Average Rent in 85040, Phoenix, AZ

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Current Versus Historical 85040, Phoenix, AZ Rents

85040 rentals average $1,357 for a 1-bedroom rental to $2,395 for a 4-bedroom rental. The median price of all currently available listings is $1,700, or roughly $17 per square feet.

For the apartment units and housing in August 2026, median rents have risen substantially over the last year. Studio rentals prices have decreased by $388 (-37.44%) year-over-year from $1,037 to $649. 1-bedroom rentals prices have increased by $292 (27.37%) year-over-year from $1,065 to $1,357. 2-bedroom rentals prices have increased by $257 (21.29%) year-over-year from $1,206 to $1,463. 3-bedroom rentals prices have increased by $133 (7.51%) year-over-year from $1,765 to $1,898. 4-bedroom rentals prices have increased by $286 (14.94%) year-over-year from $1,914 to $2,200. 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 down by 0.00% this month. 1-bedroom rents have gone up by 4.03% this month. 2-bedroom rents have gone up by 10.89% this month. 3-bedroom rents have gone up by 5.12% this month. 4-bedroom rents have gone down by 9.59% this month.

Beds	Price / Sqft	Aug 2026 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
1 BR	$18.25	$1,357	$1,065 (27.37%)	$1,082 (25.33%)
2 BR	$18.05	$1,463	$1,206 (21.29%)	$1,367 (7.01%)
3 BR	$18.37	$1,898	$1,765 (7.51%)	$1,925 (-1.43%)
4+ BR	$14.04	$2,200	$1,914 (14.94%)	$2,349 (-6.35%)

Historical Rents in 85040, Phoenix, AZ

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near 85040

There are a total of 21 cities nearby 85040. The average rent in 85040 is currently $2,200 per month. Our records show that Maricopa, AZ, with an average rent of $1,829, is the most affordable city nearby. In contrast, the most expensive city near 85040, Phoenix, AZ is Paradise Valley, AZ. Monthly rents here are on average $20,000 per month.

Let's compare 85040, Phoenix, AZ's rent against other top cities nearby by bedroom size. One bedrooms are about 5.79% more affordable. Two bedrooms in 85040, Phoenix, AZ are about 39.26% more affordable. Finally, rent for three bedrooms are about 21.21% more affordable. Want more information? Check out the top 10 cities out of 21 total cities near 85040, Phoenix, AZ in the following table.

City	Studio	1 Bed	2 Bed	All
Sun City, AZ	N/A	$1,748	$1,850	$1,900
Mesa, AZ	$1,088	$1,195	$1,511	$1,995
Phoenix, AZ	$811	$1,300	$1,700	$2,050
Glendale, AZ	$1,370	$995	$1,500	$2,095
Avondale, AZ	$1,099	$1,250	$1,447	$2,095
Tempe, AZ	$1,515	$1,368	$1,700	$2,200
Gilbert, AZ	$1,280	$1,825	$2,197	$2,495
Chandler, AZ	$1,360	$1,503	$1,900	$2,497
Scottsdale, AZ	$1,207	$1,895	$3,250	$4,000
Paradise Valley, AZ	N/A	$11,500	$17,000	$20,000

Top Neighborhoods Near 85040

There are a total of 10 neighborhoods in or near 85040. Some of these neighborhoods include Sun City, Downtown Phoenix, and Vistancia. We've included all of these top 10 neighborhoods in or near 85040, Phoenix, AZ in the following table.

The average rent for these 10 neighborhoods in or near 85040, Phoenix, AZ is currently around $2,800 per month. Interestingly, the neighborhoods' average rent is higher than 85040's average rent, which is only $1,700. Out of all the neighborhoods in or near 85040, Sun City has the most affordable average rent at $1,900 per month. Whereas, at $4,490 average rent per month, McCormick Ranch is the most expensive neighborhood in or near 85040. View the following table for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Sun City, AZ	N/A	$1,748	$1,850	$1,900
Downtown Phoenix, Phoenix, AZ	$1,099	$1,914	$2,695	$2,147
Vistancia, Peoria, AZ	N/A	N/A	$2,650	$2,375
Arrowhead Ranch, Glendale, AZ	N/A	$1,830	$2,000	$2,400
Sun City West, AZ	N/A	$1,488	$2,600	$2,600
Sun City Anthem, Anthem, AZ	N/A	$1,435	$3,500	$3,000
Downtown Scottsdale, Scottsdale, AZ	$1,295	$2,750	$3,250	$3,599
Scottsdale Ranch, Scottsdale, AZ	N/A	$3,400	$3,800	$3,750
Greyhawk, Scottsdale, AZ	N/A	$1,850	$3,375	$4,200
McCormick Ranch, Scottsdale, AZ	$2,025	$2,250	$3,995	$4,490

Top Counties Near 85040

There are a total of 2 counties located by 85040, Phoenix, AZ. Some of these counties include Pinal, AZ and Maricopa, AZ. The average rent for rentals in these counties is $2,125. That's roughly around $17 per sqft. The county that is the most affordable is Pinal, AZ. Its average rent per month is $1,899. Vice versa, with an average rent of $2,350, Maricopa, AZ is the most expensive county by 85040, Phoenix, AZ.

In comparison, rent for one bedroom listings in 85040, Phoenix, AZ is 6.93% more expensive than other counties nearby. Finally, rent for two bedrooms in 85040, Phoenix, AZ is 29.07% more affordable than other counties nearby. We've listed all of these counties in the table below.

County	Studio	1 Bed	2 Bed	All
Pinal, AZ	$1,749	$1,100	$1,720	$1,899
Maricopa, AZ	$970	$1,425	$1,999	$2,350

Top Zipcodes Near 85040

There are a total of 44 zipcodes in or near 85040, Phoenix, AZ. The average rent for all of these zipcodes is $2,273. A total of 9 zipcodes have an average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 85021, Phoenix, AZ at $1,299 per month. In comparison, the zipcode with the most expensive average rent of $14,995 per month is 85253, Paradise Valley, AZ.

Studios in these zipcodes have an average rent of $314. That's at least $5 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near 85040, Phoenix, AZ is $1,400 per month. Or in other words, $25 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,898 per month. Which comes out to $20 per sqft. The following table includes the top 10 zipcodes in 85040, Phoenix, AZ. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
85251, Scottsdale, AZ	$799	$1,991	$2,497	$3,000
85281, Tempe, AZ	$1,624	$1,425	$1,712	$2,000
85018, Phoenix, AZ	$699	$1,520	$2,000	$2,695
85016, Phoenix, AZ	$875	$1,400	$1,995	$1,995
85258, Maricopa County, AZ	$2,025	$2,184	$3,948	$4,200
85008, Phoenix, AZ	$823	$1,199	$1,539	$1,350
85282, Tempe, AZ	$1,024	$1,238	$1,595	$2,500
85254, Phoenix, AZ	$1,556	$1,875	$3,200	$4,000
85257, Scottsdale, AZ	N/A	$1,399	$1,773	$3,400
85255, Scottsdale, AZ	N/A	$1,890	$3,898	$5,000

Frequently Asked Questions - 85040 Average Rents

What is the average rent price in 85040, Phoenix, AZ?

The average monthly rental price for 85040, Phoenix, AZ apartments for rent is approximately $1,700. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do 85040, 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 85040, Phoenix, AZ.

How much is a one bedroom apartment in 85040, Phoenix, AZ?

The average monthly rental price for one bedroom apartments is $1,357 and an average price per square feet of $18.25. There are a total of 4 one bedroom apartment listings currently available for rent in 85040.

How much is a two bedroom apartment in 85040, Phoenix, AZ?

The average monthly rental price for two bedroom apartments is $1,441 and an average price per square feet of $18.05. There are a total of 24 two bedroom apartment listings currently available for rent in 85040.

How have rent prices in 85040, Phoenix, AZ changed this year?

Rent prices for rentals in 85040, Phoenix, AZ can fluctuate yearly. Specifically, studio rental prices have changed by -0.37%, one bedroom rental prices have changed by 0.27%, two bedroom rental prices have changed by 0.21%, three bedroom rental prices have changed by 0.08% year-over-year.

What is a reasonable rent price in 85040, Phoenix, AZ?

A reasonable rent price in 85040, Phoenix, AZ is around $1,360/month. You can search for these reasonably priced rental listings on RentHop.