Average Rent in Phoenix, AZ

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Current Versus Historical Phoenix, AZ Rents

Phoenix rentals average $1,531 for a studio rental to $3,800 for a 4-bedroom rental. The median price of all currently available listings is $2,600, or roughly $2 per square feet.
For the apartment units and housing in February 2024, median rents have fallenover the last year. Studio rentals prices have decreased by $260 (-21.13%) year-over-year from $1,229 to $969. 1-bedroom rentals prices have decreased by $116 (-8.79%) year-over-year from $1,316 to $1,200. 2-bedroom rentals prices have decreased by $22 (-1.34%) year-over-year from $1,617 to $1,595. 3-bedroom rentals prices have increased by $125 (5.75%) year-over-year from $2,175 to $2,300. 4-bedroom rentals prices have increased by $192 (6.94%) year-over-year from $2,758 to $2,950. 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 26.50% this month. 1-bedroom rents have gone down by 8.86% this month. 2-bedroom rents have gone up by 0.96% this month. 3-bedroom rents have gone up by 2.31% this month. 4-bedroom rents have gone up by 2.90% this month.
Beds
Price / Sqft
Feb 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $1.37 $969 $1,229 (-21.13%) $1,271 (-23.78%)
1 BR $2.34 $1,200 $1,316 (-8.79%) $1,050 (14.25%)
2 BR $1.85 $1,595 $1,617 (-1.34%) $1,333 (19.65%)
3 BR $1.69 $2,300 $2,175 (5.75%) $1,813 (26.84%)
4+ BR $1.70 $2,950 $2,758 (6.94%) $2,167 (36.13%)

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 $2,575 per month. A total of 7 cities nearby have an average rent lower than that. Our records show that Maricopa, AZ, with an average rent of $1,963, is the most affordable city nearby. In contrast, the most expensive city near Phoenix, AZ is Scottsdale, AZ. Monthly rents here are on average $4,650 per month.

Let's compare Phoenix, AZ's rent against other top cities nearby by bedroom size. One bedrooms are about 14.68% more expensive. Two bedrooms in Phoenix, AZ are about 17.50% more affordable. Finally, rent for three bedrooms are about 10.71% 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
Mesa, AZ $1,776 $1,330 $1,649 $2,200
Surprise, AZ N/A $1,550 $3,000 $2,325
Buckeye, AZ N/A N/A $3,500 $2,395
Glendale, AZ $1,095 $1,050 $1,550 $2,500
Goodyear, AZ N/A N/A $3,000 $2,575
Chandler, AZ $750 $1,540 $2,250 $2,600
Tempe, AZ N/A $1,250 $1,650 $2,700
Gilbert, AZ N/A N/A $2,250 $2,725
Peoria, AZ $3,450 $1,723 $3,100 $3,000
Scottsdale, AZ $2,300 $2,400 $3,775 $4,650

Top Neighborhoods Near Phoenix

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

The average rent for these 2 neighborhoods in or near Phoenix, AZ is currently around $5,375 per month. Meaning, only two neighborhoods have a higher average rent than $5,375. Interestingly, the neighborhoods' average rent is higher than Phoenix's average rent, which is only $2,600. Out of all the neighborhoods in or near Phoenix, McCormick Ranch has the most affordable average rent at $4,750 per month. Whereas, at $6,000 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
McCormick Ranch, Scottsdale, AZ $2,050 $2,450 $4,500 $4,750
Greyhawk, Scottsdale, AZ N/A $2,475 $4,880 $6,000

Top Counties Near Phoenix

There are a total of 2 counties located by Phoenix, AZ. The average rent for rentals in these counties is $3,100. That's roughly around $2 per sqft. The county that is the most affordable is Maricopa, AZ. It's average rent per month is $3,100. Vice versa, with an average rent of $3,100, Maricopa, AZ is the most expensive county by Phoenix, AZ.

Typically, rent for studios in Phoenix, AZ is 3.69% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Phoenix, AZ is 12.63% more affordable than other counties nearby. Finally, rent for two bedrooms in Phoenix, AZ is 42.50% 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 $1,588 $1,650 $2,850 $3,100

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 $4,150.

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 $2,400 $3,900 $4,500
85251, Scottsdale, AZ N/A $2,473 $3,225 $3,500
85255, Scottsdale, AZ N/A $2,475 $4,880 $6,500
85260, Scottsdale, AZ $6,500 $1,750 $3,500 $3,925
85262, Maricopa County, AZ N/A N/A $5,500 $9,500
85254, Phoenix, AZ N/A $3,325 $3,200 $5,000
85018, Phoenix, AZ N/A $1,700 $3,200 $4,375
85250, Scottsdale, AZ N/A $1,675 $2,850 $3,600
85016, Phoenix, AZ N/A $1,550 $3,500 $3,300
85253, Paradise Valley, AZ N/A $2,700 $5,500 $14,500

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 $2,600. 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 $1,531 and an average price per square feet of $1.37. There are a total of 32 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 $1,465 and an average price per square feet of $2.34. There are a total of 100 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 $2,000 and an average price per square feet of $1.85. There are a total of 229 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 -0.21%, one bedroom rental prices have changed by -0.09%, two bedroom rental prices have changed by -0.01%, and three bedroom rental prices have changed by 0.06% year-over-year.
What is a reasonable rent price in Phoenix, AZ?
A reasonable rent price in Phoenix, AZ is around $2,080/month. You can search for these reasonably priced rental listings on RentHop.
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