Average Rent in Paradise Valley, Phoenix, AZ

Current Versus Historical Paradise Valley, Phoenix, AZ Rents

Paradise Valley rentals average $2,300 for a studio rental to $6,973 for a 4-bedroom rental. The median price of all currently available listings is $3,500, or roughly $2 per square feet.

For the apartment units and housing in April 2024, median rents have risen substantially over the last year. Studio rentals prices have increased by $265 (23.35%) year-over-year from $1,135 to $1,400. 1-bedroom rentals prices have increased by $158 (12.69%) year-over-year from $1,242 to $1,400. 2-bedroom rentals prices have decreased by $166 (-9.12%) year-over-year from $1,816 to $1,650. 3-bedroom rentals prices have increased by $235 (9.32%) year-over-year from $2,516 to $2,750. 4-bedroom rentals prices have increased by $589 (15.06%) year-over-year from $3,911 to $4,500. 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 20.02% this month. 1-bedroom rents have gone down by 9.09% this month. 2-bedroom rents have gone up by 0.10% this month. 3-bedroom rents have gone up by 4.90% this month. 4-bedroom rents have gone up by 14.72% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$0.18	$1,400	$1,135 (23.35%)	$2,977 (-52.98%)
1 BR	$2.97	$1,400	$1,242 (12.69%)	$952 (47.11%)
2 BR	$1.95	$1,650	$1,816 (-9.12%)	$1,383 (19.28%)
3 BR	$1.98	$2,750	$2,516 (9.32%)	$2,165 (27.02%)
4+ BR	$2.48	$4,500	$3,911 (15.06%)	$2,842 (58.36%)

Historical Rents in Paradise Valley, Phoenix, AZ

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Paradise Valley

There are a total of 12 cities nearby Paradise Valley. The average rent in Paradise Valley is currently $2,734 per month. A total of 11 cities nearby have an average rent lower than that. Our records show that Mesa, AZ, with an average rent of $2,250, is the most affordable city nearby. In contrast, the most expensive city near Paradise Valley, Phoenix, AZ is Scottsdale, AZ. Monthly rents here are on average $4,500 per month.

Let's compare Paradise Valley, Phoenix, AZ's rent against other top cities nearby by bedroom size. Typically, rent for studios in Paradise Valley, Phoenix, AZ is 28.65% more expensive than other cities nearby. One bedrooms are about 45.83% more expensive. Two bedrooms in Paradise Valley, Phoenix, AZ are about 24.13% more affordable. Finally, rent for three bedrooms are about 24.76% more expensive. Want more information? Check out the top 10 cities out of 12 total cities near Paradise Valley, Phoenix, AZ in the following chart.

City	Studio	1 Bed	2 Bed	All
Mesa, AZ	$2,865	$1,285	$1,695	$2,250
Surprise, AZ	N/A	$1,800	$2,860	$2,350
Glendale, AZ	$950	$1,075	$1,700	$2,495
Phoenix, AZ	$1,570	$1,368	$1,925	$2,500
Chandler, AZ	N/A	$1,680	$1,900	$2,795
Gilbert, AZ	$6,031	N/A	$2,950	$2,795
Peoria, AZ	$3,450	N/A	$3,200	$2,798
Tempe, AZ	$1,719	$1,313	$1,598	$2,800
Fountain Hills, AZ	$1,713	$2,275	$2,850	$2,900
Scottsdale, AZ	$2,450	$2,273	$3,500	$4,500

Top Neighborhoods Near Paradise Valley

There are a total of 2 neighborhoods in or near Paradise Valley. We've included all of these top 2 neighborhoods in or near Paradise Valley, Phoenix, AZ in the following chart.

The average rent for these 2 neighborhoods in or near Paradise Valley, Phoenix, AZ is currently around $5,038 per month. Meaning, only two neighborhoods have a higher average rent than $5,038. Interestingly, the neighborhoods' average rent is higher than Paradise Valley's average rent, which is only $3,500. Out of all the neighborhoods in or near Paradise Valley, McCormick Ranch has the most affordable average rent at $4,575 per month. Whereas, at $5,500 average rent per month, Greyhawk is the most expensive neighborhood in or near Paradise Valley. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
McCormick Ranch, Scottsdale, AZ	$2,050	$2,350	$4,500	$4,575
Greyhawk, Scottsdale, AZ	N/A	$1,850	$4,500	$5,500

Top Counties Near Paradise Valley

There are a total of 2 counties located by Paradise Valley, Phoenix, AZ. The average rent for rentals in these counties is $3,000. That's roughly around $2 per sqft. A total of 1 counties have a lower average rent. 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 Paradise Valley, Phoenix, AZ.

Typically, rent for studios in Paradise Valley, Phoenix, AZ is 26.00% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Paradise Valley, Phoenix, AZ is 33.26% more expensive than other counties nearby. Finally, rent for two bedrooms in Paradise Valley, Phoenix, AZ is 12.91% 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	$1,702	$1,600	$2,597	$3,000

Top Zipcodes Near Paradise Valley

There are a total of 15 zipcodes in or near Paradise Valley, Phoenix, AZ. The average rent for all of these zipcodes is $3,750. A total of 7 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 85281, Tempe, AZ at $2,200 per month. In comparison, the zipcode with the most expensive average rent of $10,950 per month is 85253, Paradise Valley, AZ.

Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Paradise Valley, Phoenix, AZ is $1,875 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $3,200 per month. Which comes out to $3 per sqft. The following chart includes the top 10 zipcodes in Paradise Valley, Phoenix, AZ. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
85032, Phoenix, AZ	N/A	$1,875	$1,650	$2,450
85254, Phoenix, AZ	N/A	$2,925	$2,995	$5,000
85253, Paradise Valley, AZ	N/A	$2,700	$3,795	$10,950
85260, Scottsdale, AZ	$15,750	$1,600	$3,500	$3,900
85258, Maricopa County, AZ	$2,050	$2,295	$3,500	$4,498
85016, Phoenix, AZ	N/A	$1,325	$3,200	$3,000
85018, Phoenix, AZ	N/A	$1,200	$2,700	$3,750
85250, Scottsdale, AZ	N/A	$3,050	$2,850	$3,500
85251, Scottsdale, AZ	N/A	$2,400	$2,725	$3,000
85255, Scottsdale, AZ	N/A	$2,175	$4,500	$5,900

Frequently Asked Questions - Paradise Valley Average Rents

What is the average rent price in Paradise Valley, Phoenix, AZ?

The average monthly rental price for Paradise Valley, Phoenix, AZ apartments for rent is approximately $3,500. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Paradise Valley, 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 Paradise Valley, Phoenix, AZ.

How much is a studio apartment in Paradise Valley, Phoenix, AZ?

The average monthly rental price for studio apartments is $2,300 and an average price per square feet of $0.18. There are a total of 2 studio apartment listings currently available for rent in Paradise Valley.

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

The average monthly rental price for one bedroom apartments is $2,398 and an average price per square feet of $2.97. There are a total of 26 one bedroom apartment listings currently available for rent in Paradise Valley.

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

The average monthly rental price for two bedroom apartments is $2,300 and an average price per square feet of $1.95. There are a total of 50 two bedroom apartment listings currently available for rent in Paradise Valley.

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

Rent prices for rentals in Paradise Valley, Phoenix, AZ can fluctuate yearly. Specifically, studio rental prices have changed by 0.23%, one bedroom rental prices have changed by 0.13%, two bedroom rental prices have changed by -0.09%, and three bedroom rental prices have changed by 0.09% year-over-year.

What is a reasonable rent price in Paradise Valley, Phoenix, AZ?

A reasonable rent price in Paradise Valley, Phoenix, AZ is around $2,800/month. You can search for these reasonably priced rental listings on RentHop.