Tempe, AZ Rental Market Trends
Highlights
The average rent for an apartment in Tempe is $1,419, a 6% increase compared to the previous year.
Average Rent in Tempe, AZ
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,419 | 6% | 873 sq. ft. |
The average size for a Tempe, AZ apartment is 873 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Tempe, AZ Apartment Rent Ranges
- $701-$1,00015%
- $1,001-$1,50056%
- $1,501-$2,00020%
- > $2,0009%
Tempe, AZ Occupied Housing Units
- Renter-occupied Households53%
- Owner-occupied Households46%
37,641 or 53% of the households in Tempe, AZ are renter-occupied while 33,340 or 46% are owner-occupied.
Tempe, AZ Rent Trends
| Average Rent | Nov / 2016 | Mar / 2017 | Jul / 2017 | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Feb / 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Tempe, AZ | $1,191 | $1,199 | $1,223 | $1,233 | $1,260 | $1,293 | $1,306 | $1,339 | $1,378 | $1,433 | $1,419 |
| National | $1,340 | $1,337 | $1,368 | $1,371 | $1,374 | $1,408 | $1,417 | $1,422 | $1,458 | $1,466 | $1,468 |
Average Rent in Tempe, AZ By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Shalimar | $1,213 |
| Wood Park | $1,236 |
| Tempe Gardens | $1,236 |
| Pepperwood | $1,260 |
| Optimist Park | $1,260 |
| Camelot Village | $1,260 |
| Peterson Park | $1,456 |
| Hughes Acres | $1,456 |
| Rio | $1,558 |
| Warner Ranch | $1,603 |
| Sandahl | $1,603 |
The most affordable neighborhoods in Tempe are Shalimar, where the average rent goes for $1,213/month, Tempe Gardens, where renters pay $1,236/mo on average, and Wood Park, where the average rent goes for $1,236/mo. If you’re looking for other great deals, check out the listings from Camelot Village ($1,260), Optimist Park ($1,260), and Pepperwood ($1,260), where the asking prices are below the average Tempe rent of $1,419/mo.
The most expensive neighborhoods in Tempe are Rio ($1,558), Sandahl ($1,603) and Warner Ranch ($1,603).
The most popular neighborhood in Tempe is Hughes Acres, where there are 18 verified RENTCafé listings with an average rent of $1,456. Next up is Pepperwood, where apartments go for $1,260/month, followed by Peterson Park with $1,456 If you’re looking to rent in Tempe’s most popular neighborhoods, make sure to also check out Wood Park, where renters pay $1,236 on average, and Optimist Park, where the average monthly rent is $1,260.
Tempe | Rent Comparison by Neighborhood
Rent in Camelot Village is 13% lower than in Hughes Acres
Camelot Village rent is 11% lower than Tempe average
| Average Rent | $1,260 |
|---|
Hughes Acres rent is 3% higher than Tempe average
| Average Rent | $1,456 |
|---|
How Tempe Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Phoenix | $1,141 | 10% |
| Tucson | $921 | 6% |
| Mesa | $1,098 | 9% |
| Tempe | $1,419 | 6% |
| Scottsdale | $1,598 | 8% |
| Glendale | $1,045 | 9% |
| Chandler | $1,390 | 8% |
| Peoria | $1,241 | 7% |
| Gilbert | $1,338 | 8% |
| Goodyear | $1,276 | 7% |
| Avondale | $1,222 | 12% |
For more information about the Tempe rental trends, check out our monthly rent report
Check out Arizona Cities, Arizona Neighborhoods and Arizona Zip Codes for more details on verified listings, including the Arizona Average Rent.
Curious about listings in your area? Check out our apartments near you for more details!