Average Rent in Phoenix, AZ

Phoenix rentals average $0 for a 1-bedroom rental to $2,923 for a 4-bedroom rental. The median price of all currently available listings is $2,648, or roughly $2 per square feet.

For the apartment units and housing in July 2024, median rents have risen substantially over the last year. Studio rentals prices have increased by $634 (46.88%) year-over-year from $1,353 to $1,987. 1-bedroom rentals prices have increased by $661 (51.42%) year-over-year from $1,286 to $1,947. 2-bedroom rentals prices have increased by $603 (37.76%) year-over-year from $1,597 to $2,200. 3-bedroom rentals prices have increased by $33 (1.44%) year-over-year from $2,317 to $2,350. 4-bedroom rentals prices have increased by $70 (2.39%) year-over-year from $2,930 to $3,000. 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 9.82% this month. 1-bedroom rents have gone up by 17.23% this month. 2-bedroom rents have gone up by 10.89% this month. 3-bedroom rents have gone down by 4.02% this month. 4-bedroom rents have gone down by 5.25% this month.