Average Rent in Phoenix, AZ

Current Versus Historical Phoenix, AZ Rents

Phoenix rentals average $1,930 for a studio rental to $4,000 for a 4-bedroom rental. The median price of all currently available listings is $2,700, or roughly $2 per square feet.

For the apartment units and housing in May 2024, median rents have risen substantially over the last year. Studio rentals prices have increased by $751 (58.17%) year-over-year from $1,291 to $2,042. 1-bedroom rentals prices have increased by $673 (52.74%) year-over-year from $1,277 to $1,950. 2-bedroom rentals prices have increased by $595 (37.07%) year-over-year from $1,605 to $2,200. 3-bedroom rentals prices have increased by $348 (15.30%) year-over-year from $2,277 to $2,625. 4-bedroom rentals prices have increased by $302 (10.06%) year-over-year from $2,998 to $3,300. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone up by 23.16% this month. 1-bedroom rents have gone up by 26.97% this month. 2-bedroom rents have gone up by 22.22% this month. 3-bedroom rents have gone up by 9.83% this month. 4-bedroom rents have gone up by 15.12% this month.

Beds	Price / Sqft	May 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$0.21	$2,042	$1,291 (58.17%)	$1,472 (38.69%)
1 BR	$2.31	$1,950	$1,277 (52.74%)	$1,097 (77.70%)
2 BR	$1.90	$2,200	$1,605 (37.07%)	$1,342 (63.98%)
3 BR	$1.73	$2,625	$2,277 (15.30%)	$1,950 (34.64%)
4+ BR	$1.73	$3,300	$2,998 (10.06%)	$2,365 (39.55%)

Historical Rents in Phoenix, AZ

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Phoenix

There are a total of 11 cities nearby Phoenix. The average rent in Phoenix is currently $2,775 per month. A total of 4 cities nearby have an average rent lower than that. Our records show that Surprise, AZ, with an average rent of $2,295, is the most affordable city nearby. In contrast, the most expensive city near Phoenix, AZ is Scottsdale, AZ. Monthly rents here are on average $4,288 per month.

Let's compare Phoenix, AZ's rent against other top cities nearby by bedroom size. Typically, rent for studios in Phoenix, AZ is 58.54% more expensive than other cities nearby. One bedrooms are about 16.35% more expensive. Two bedrooms in Phoenix, AZ are about 23.81% more affordable. Finally, rent for three bedrooms are about 11.52% more expensive. Want more information? Check out the top 10 cities out of 11 total cities near Phoenix, AZ in the following chart.

City	Studio	1 Bed	2 Bed	All
Surprise, AZ	N/A	$1,800	$2,600	$2,295
Mesa, AZ	$4,500	$1,500	$1,748	$2,395
Glendale, AZ	$1,095	N/A	$1,800	$2,673
Chandler, AZ	$800	$2,025	$1,950	$2,763
Tempe, AZ	$2,218	$1,297	$1,700	$2,775
Goodyear, AZ	N/A	N/A	$3,000	$2,800
Gilbert, AZ	N/A	N/A	$2,300	$2,825
Peoria, AZ	N/A	N/A	$3,200	$2,990
Fountain Hills, AZ	$1,675	$2,750	$2,775	$3,000
Scottsdale, AZ	$3,200	$2,200	$3,350	$4,288

Top Neighborhoods Near Phoenix

There are a total of 3 neighborhoods in or near Phoenix. Some of these neighborhoods include Downtown Scottsdale, McCormick Ranch, and Greyhawk. We've included all of these top 3 neighborhoods in or near Phoenix, AZ in the following chart.

The average rent for these 3 neighborhoods in or near Phoenix, AZ is currently around $4,500 per month. Meaning, only three neighborhoods have a higher average rent than $4,500. Interestingly, the neighborhoods' average rent is higher than Phoenix's average rent, which is only $2,700. Out of all the neighborhoods in or near Phoenix, Downtown Scottsdale has the most affordable average rent at $3,995 per month. Whereas, at $5,498 average rent per month, Greyhawk is the most expensive neighborhood in or near Phoenix. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Downtown Scottsdale, Scottsdale, AZ	N/A	$2,950	$3,999	$3,995
McCormick Ranch, Scottsdale, AZ	$2,000	$2,350	$4,500	$4,500
Greyhawk, Scottsdale, AZ	N/A	$1,823	$4,500	$5,498

Top Counties Near Phoenix

There are a total of 3 counties located by Phoenix, AZ. The average rent for rentals in these counties is $3,000. That's roughly around $2 per sqft. The county that is the most affordable is Maricopa, AZ. It's average rent per month is $3,000. Vice versa, with an average rent of $3,000, Maricopa, AZ is the most expensive county by Phoenix, AZ.

Typically, rent for studios in Phoenix, AZ is 3.65% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Phoenix, AZ is 12.58% more affordable than other counties nearby. Finally, rent for two bedrooms in Phoenix, AZ is 28.57% more affordable than other counties nearby. We've listed the top 1 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Maricopa, AZ	$2,000	$1,745	$2,700	$3,000

Top Zipcodes Near Phoenix

There are a total of 14 zipcodes in or near Phoenix, AZ. The average rent for all of these zipcodes is $3,800.

The following chart includes the top 10 zipcodes in Phoenix, AZ. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
85258, Maricopa County, AZ	$2,000	$2,500	$3,500	$4,350
85251, Scottsdale, AZ	N/A	$1,997	$2,600	$3,000
85255, Scottsdale, AZ	N/A	$1,850	$4,200	$5,500
85260, Scottsdale, AZ	N/A	$1,575	$3,000	$3,600
85262, Maricopa County, AZ	N/A	N/A	$5,750	$9,000
85254, Phoenix, AZ	N/A	$2,700	$2,995	$4,645
85018, Phoenix, AZ	N/A	$2,200	$2,400	$4,000
85250, Scottsdale, AZ	N/A	$2,070	$2,750	$3,400
85253, Paradise Valley, AZ	N/A	$2,700	$3,800	$10,750
85032, Phoenix, AZ	N/A	$1,750	$1,873	$2,375

Frequently Asked Questions - Phoenix Average Rents

What is the average rent price in Phoenix, AZ?

The average monthly rental price for Phoenix, AZ apartments for rent is approximately $2,700. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Phoenix, AZ rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Phoenix, AZ.

How much is a studio apartment in Phoenix, AZ?

The average monthly rental price for studio apartments is $1,930 and an average price per square feet of $0.21. There are a total of 38 studio apartment listings currently available for rent in Phoenix.

How much is a one bedroom apartment in Phoenix, AZ?

The average monthly rental price for one bedroom apartments is $1,550 and an average price per square feet of $2.31. There are a total of 94 one bedroom apartment listings currently available for rent in Phoenix.

How much is a two bedroom apartment in Phoenix, AZ?

The average monthly rental price for two bedroom apartments is $2,100 and an average price per square feet of $1.90. There are a total of 232 two bedroom apartment listings currently available for rent in Phoenix.

How have rent prices in Phoenix, AZ changed this year?

Rent prices for rentals in Phoenix, AZ can fluctuate yearly. Specifically, studio rental prices have changed by 0.58%, one bedroom rental prices have changed by 0.53%, two bedroom rental prices have changed by 0.37%, and three bedroom rental prices have changed by 0.15% year-over-year.

What is a reasonable rent price in Phoenix, AZ?

A reasonable rent price in Phoenix, AZ is around $2,160/month. You can search for these reasonably priced rental listings on RentHop.