Average Rent in Phoenix, AZ

Current Versus Historical Phoenix, AZ Rents

Phoenix rentals average $1,050 for a studio rental to $4,800 for a 4-bedroom rental. The median price of all currently available listings is $1,950, or roughly $23 per square feet.

For the apartment units and housing in March 2023, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $640 (-36.77%) year-over-year from $1,739 to $1,100. 1-bedroom rentals prices have increased by $30 (2.35%) year-over-year from $1,290 to $1,320. 2-bedroom rentals prices have increased by $56 (3.44%) year-over-year from $1,631 to $1,688. 3-bedroom rentals prices have increased by $30 (1.32%) year-over-year from $2,270 to $2,300. 4-bedroom rentals prices have increased by $573 (21.83%) year-over-year from $2,627 to $3,200. 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 9.62% this month. 1-bedroom rents have gone up by 1.15% this month. 2-bedroom rents have gone up by 4.65% this month. 3-bedroom rents have gone up by 4.15% this month. 4-bedroom rents have gone up by 9.41% this month.

Beds	Price / Sqft	Mar 2023 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$30	$1,100	$1,739 (-36.77%)	$892 (23.31%)
1 BR	$25	$1,320	$1,290 (2.35%)	$899 (46.80%)
2 BR	$21	$1,688	$1,631 (3.44%)	$1,172 (43.98%)
3 BR	$21	$2,300	$2,270 (1.32%)	$1,583 (45.26%)
4+ BR	$21	$3,200	$2,627 (21.83%)	$1,950 (64.10%)

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 $2,300 per month. Only one city nearby has an average rent lower than that. Our records show that Glendale, AZ, with an average rent of $1,823, is the most affordable city nearby. In contrast, the most expensive city near Phoenix, AZ is Scottsdale, AZ. Monthly rents here are on average $4,795 per month.

Let's compare Phoenix, AZ's rent against other top cities nearby by bedroom size. One bedrooms are about 2.00% more affordable. Two bedrooms in Phoenix, AZ are about 20.91% more affordable. Finally, rent for three bedrooms are about 4.82% 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
Glendale, AZ	$975	$1,105	$1,535	$1,823
Tempe, AZ	$1,060	$1,275	$1,570	$2,000
Mesa, AZ	$1,150	$1,210	$1,600	$2,200
Surprise, AZ	N/A	$1,675	$2,825	$2,295
Chandler, AZ	$1,125	$1,397	$1,735	$2,300
Buckeye, AZ	N/A	$1,048	$2,750	$2,323
Gilbert, AZ	N/A	$1,300	$1,725	$2,600
Goodyear, AZ	N/A	$1,195	$1,995	$2,670
Peoria, AZ	N/A	$1,395	$2,850	$2,873
Scottsdale, AZ	$1,175	$2,100	$3,600	$4,795

Top Neighborhoods Near Phoenix

There are a total of 3 neighborhoods in or near Phoenix. Some of these neighborhoods include Downtown Scottsdale, McCormick Ranch, and Greyhawk. We've included all of these top 3 neighborhoods in or near Phoenix, AZ in the following chart.

The average rent for these 3 neighborhoods in or near Phoenix, AZ is currently around $4,800 per month. Meaning, only three neighborhoods have a higher average rent than $4,800. Interestingly, the neighborhoods' average rent is higher than Phoenix's average rent, which is only $1,950. Out of all the neighborhoods in or near Phoenix, Downtown Scottsdale has the most affordable average rent at $4,000 per month. Whereas, at $5,200 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
Downtown Scottsdale, Scottsdale, AZ	N/A	$3,500	$4,500	$4,000
McCormick Ranch, Scottsdale, AZ	N/A	$2,000	$3,000	$4,800
Greyhawk, Scottsdale, AZ	N/A	$2,700	$4,600	$5,200

Top Counties Near Phoenix

There are a total of 3 counties located by Phoenix, AZ. The average rent for rentals in these counties is $2,500. That's roughly around $23 per sqft. The county that is the most affordable is Maricopa, AZ. It's average rent per month is $2,500. Vice versa, with an average rent of $2,500, Maricopa, AZ is the most expensive county by Phoenix, AZ.

Typically, rent for studios in Phoenix, AZ is 2.38% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Phoenix, AZ is 3.92% more affordable than other counties nearby. Finally, rent for two bedrooms in Phoenix, AZ is 21.21% 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	$1,075	$1,299	$2,000	$2,500

Top Zipcodes Near Phoenix

There are a total of 16 zipcodes in or near Phoenix, AZ. The average rent for all of these zipcodes is $2,888. A total of 4 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 85008, Phoenix, AZ at $1,287 per month. In comparison, the zipcode with the most expensive average rent of $9,500 per month is 85262, Maricopa County, AZ.

Studios in these zipcodes have an average rent of $488. That's at least $13 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Phoenix, AZ is $1,358 per month. Or in other words, $25 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,074 per month. Which comes out to $25 per sqft. 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
85251, Scottsdale, AZ	$1,100	$3,000	$3,245	$3,500
85258, Maricopa County, AZ	N/A	$2,200	$3,500	$4,800
85255, Scottsdale, AZ	N/A	$2,900	$5,200	$6,125
85016, Phoenix, AZ	N/A	$1,310	$2,300	$2,295
85260, Scottsdale, AZ	N/A	$1,773	$3,500	$3,695
85254, Phoenix, AZ	N/A	$2,925	$3,200	$4,923
85281, Tempe, AZ	$1,095	$1,275	$1,500	$1,673
85018, Phoenix, AZ	$1,060	$1,250	$1,800	$2,395
85262, Maricopa County, AZ	N/A	N/A	$6,000	$9,500
85014, Phoenix, AZ	$1,098	$1,315	$1,685	$1,425

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 $1,950. 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 $1,050 and an average price per square feet of $30.00. There are a total of 58 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 $1,250 and an average price per square feet of $24.92. There are a total of 273 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 $1,650 and an average price per square feet of $21.38. There are a total of 397 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 -0.37%, one bedroom rental prices have changed by 0.02%, two bedroom rental prices have changed by 0.03%, and three bedroom rental prices have changed by 0.01% year-over-year.

What is a reasonable rent price in Phoenix, AZ?

A reasonable rent price in Phoenix, AZ is around $1,560/month. You can search for these reasonably priced rental listings on RentHop.