Average Rent in Phoenix, AZ

Current Versus Historical Phoenix, AZ Rents

Phoenix rentals average $1,593 for a studio rental to $3,973 for a 4-bedroom rental. The median price of all currently available listings is $2,548, or roughly $2 per square feet.

For the apartment units and housing in April 2024, median rents have fallenover the last year. Studio rentals prices have decreased by $308 (-23.21%) year-over-year from $1,328 to $1,020. 1-bedroom rentals prices have decreased by $98 (-7.37%) year-over-year from $1,323 to $1,225. 2-bedroom rentals prices have decreased by $62 (-3.72%) year-over-year from $1,657 to $1,595. 3-bedroom rentals prices have increased by $160 (7.14%) year-over-year from $2,240 to $2,400. 4-bedroom rentals prices have increased by $133 (4.65%) year-over-year from $2,867 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 down by 21.19% this month. 1-bedroom rents have gone down by 5.22% this month. 2-bedroom rents have gone down by 0.10% this month. 3-bedroom rents have gone up by 4.50% this month. 4-bedroom rents have gone up by 8.45% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$0.92	$1,020	$1,328 (-23.21%)	$1,289 (-20.87%)
1 BR	$2.16	$1,225	$1,323 (-7.37%)	$1,076 (13.88%)
2 BR	$1.86	$1,595	$1,657 (-3.72%)	$1,325 (20.41%)
3 BR	$1.75	$2,400	$2,240 (7.14%)	$1,915 (25.35%)
4+ BR	$1.70	$3,000	$2,867 (4.65%)	$2,283 (31.41%)

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 $2,798 per month. A total of 4 cities nearby have an average rent lower than that. Our records show that Mesa, AZ, with an average rent of $2,248, is the most affordable city nearby. In contrast, the most expensive city near Phoenix, AZ is Scottsdale, AZ. Monthly rents here are on average $4,500 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 7.50% more affordable than other cities nearby. One bedrooms are about 5.52% more expensive. Two bedrooms in Phoenix, AZ are about 42.86% more affordable. Finally, rent for three bedrooms are about 9.32% 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	$2,865	$1,292	$1,695	$2,248
Surprise, AZ	N/A	$1,800	$2,860	$2,350
Glendale, AZ	$950	$1,160	$1,700	$2,475
Goodyear, AZ	N/A	N/A	$3,000	$2,695
Peoria, AZ	$3,450	N/A	$3,200	$2,798
Chandler, AZ	$775	$1,680	$1,800	$2,800
Gilbert, AZ	$6,031	N/A	$2,800	$2,800
Fountain Hills, AZ	$1,713	$2,750	$2,850	$2,900
Tempe, AZ	$1,719	$1,375	$1,598	$2,950
Scottsdale, AZ	$2,100	$2,300	$3,500	$4,500

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 $5,000 per month. Meaning, only two neighborhoods have a higher average rent than $5,000. Interestingly, the neighborhoods' average rent is higher than Phoenix's average rent, which is only $2,548. Out of all the neighborhoods in or near Phoenix, McCormick Ranch has the most affordable average rent at $4,500 per month. Whereas, at $5,500 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	$2,350	$4,500	$4,500
Greyhawk, Scottsdale, AZ	N/A	$1,850	$4,500	$5,500

Top Counties Near Phoenix

There are a total of 2 counties located by Phoenix, AZ. The average rent for rentals in these counties is $3,000. 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 6.84% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Phoenix, AZ is 17.00% more affordable than other counties nearby. Finally, rent for two bedrooms in Phoenix, AZ is 33.96% 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	$2,673	$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 $3,946.

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	$2,050	$2,350	$3,500	$4,350
85251, Scottsdale, AZ	N/A	$2,450	$2,750	$3,000
85255, Scottsdale, AZ	N/A	$2,075	$4,500	$5,950
85260, Scottsdale, AZ	N/A	$1,600	$3,500	$3,900
85262, Maricopa County, AZ	N/A	N/A	$5,750	$9,000
85254, Phoenix, AZ	N/A	$2,925	$3,023	$5,000
85018, Phoenix, AZ	N/A	$1,600	$3,000	$3,993
85250, Scottsdale, AZ	N/A	$3,050	$2,825	$3,500
85016, Phoenix, AZ	N/A	$1,250	$3,200	$3,000
85253, Paradise Valley, AZ	N/A	$2,700	$3,500	$10,950

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 $2,548. 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 $1,593 and an average price per square feet of $0.92. There are a total of 49 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 $1,368 and an average price per square feet of $2.16. There are a total of 120 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 $1,995 and an average price per square feet of $1.86. There are a total of 250 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 -0.23%, one bedroom rental prices have changed by -0.07%, two bedroom rental prices have changed by -0.04%, and three bedroom rental prices have changed by 0.07% year-over-year.

What is a reasonable rent price in Phoenix, AZ?

A reasonable rent price in Phoenix, AZ is around $2,038/month. You can search for these reasonably priced rental listings on RentHop.