Average Rent in Tempe, AZ

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Current Versus Historical Tempe, AZ Rents

Tempe rentals average $1,719 for a studio rental to $4,000 for a 4-bedroom rental. The median price of all currently available listings is $2,800, or roughly $2 per square feet.

For the apartment units and housing in April 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $249 (26.21%) year-over-year from $950 to $1,199. 1-bedroom rentals prices have decreased by $53 (-4.26%) year-over-year from $1,252 to $1,199. 2-bedroom rentals prices have decreased by $117 (-7.24%) year-over-year from $1,612 to $1,495. 3-bedroom rentals prices have decreased by $25 (-1.10%) year-over-year from $2,275 to $2,250. 4-bedroom rentals prices have increased by $700 (21.21%) year-over-year from $3,300 to $4,000. 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 18.09% this month. 1-bedroom rents have gone down by 2.08% this month. 2-bedroom rents have gone down by 6.94% this month. 3-bedroom rents have gone down by 2.10% this month. 4-bedroom rents have gone up by 7.87% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$1.23	$1,199	$950 (26.21%)	$1,367 (-12.31%)
1 BR	$2.19	$1,199	$1,252 (-4.26%)	$1,095 (9.46%)
2 BR	$1.72	$1,495	$1,612 (-7.24%)	$1,383 (8.07%)
3 BR	$1.72	$2,250	$2,275 (-1.10%)	$2,125 (5.88%)
4+ BR	$2.18	$4,000	$3,300 (21.21%)	$2,850 (40.35%)

Historical Rents in Tempe, AZ

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Tempe

There are a total of 1 cities nearby Tempe. The average rent in Tempe is currently $2,797 per month. Only one city nearby has an average rent lower than that. Our records show that Chandler, AZ, with an average rent of $2,797, is the most affordable city nearby. In contrast, the most expensive city near Tempe, AZ is Chandler, AZ. Monthly rents here are on average $2,797 per month.

Let's compare Tempe, AZ's rent against other top cities nearby by bedroom size. Typically, rent for studios in Tempe, AZ is 54.92% more expensive than other cities nearby. One bedrooms are about 22.15% more affordable. Two bedrooms in Tempe, AZ are about 18.75% more affordable. Finally, rent for three bedrooms are about 2.68% more expensive. Want more information? Check out the top 1 cities near Tempe, AZ in the following chart.

City	Studio	1 Bed	2 Bed	All
Chandler, AZ	$775	$1,680	$1,900	$2,797

Top Neighborhoods Near Tempe

There are a total of 1 neighborhoods in or near Tempe. We've included all of these top 1 neighborhoods in or near Tempe, AZ in the following chart.

The average rent for these 1 neighborhoods in or near Tempe, AZ is currently around $4,500 per month. Meaning, only a single neighborhood out of these neighborhoods has a higher average rent. Interestingly, the neighborhoods' average rent is higher than Tempe's average rent, which is only $2,800. Out of all the neighborhoods in or near Tempe, McCormick Ranch has the most affordable average rent at $4,500 per month. Whereas, at $4,500 average rent per month, McCormick Ranch is the most expensive neighborhood in or near Tempe. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
McCormick Ranch, Scottsdale, AZ	$1,750	$2,350	$4,500	$4,500

Top Counties Near Tempe

There are a total of 1 counties located by Tempe, AZ.

We've listed the top 0 counties in the chart below.

County	Studio	1 Bed	2 Bed	All

Top Zipcodes Near Tempe

There are a total of 6 zipcodes in or near Tempe, AZ. The average rent for all of these zipcodes is $3,743.

The following chart includes the top 6 zipcodes in Tempe, 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	$1,750	$2,350	$3,500	$4,300
85251, Scottsdale, AZ	N/A	$2,499	$2,700	$3,000
85018, Phoenix, AZ	N/A	$1,600	$3,000	$3,985
85250, Scottsdale, AZ	N/A	$3,050	$2,800	$3,500
85281, Tempe, AZ	N/A	$1,395	$1,595	$2,400
85253, Paradise Valley, AZ	N/A	$2,700	$3,500	$10,725

Frequently Asked Questions - Tempe Average Rents

What is the average rent price in Tempe, AZ?

The average monthly rental price for Tempe, AZ apartments for rent is approximately $2,800. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Tempe, 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 Tempe, AZ.

How much is a studio apartment in Tempe, AZ?

The average monthly rental price for studio apartments is $1,719 and an average price per square feet of $1.23. There are a total of 4 studio apartment listings currently available for rent in Tempe.

How much is a one bedroom apartment in Tempe, AZ?

The average monthly rental price for one bedroom apartments is $1,375 and an average price per square feet of $2.19. There are a total of 7 one bedroom apartment listings currently available for rent in Tempe.

How much is a two bedroom apartment in Tempe, AZ?

The average monthly rental price for two bedroom apartments is $1,600 and an average price per square feet of $1.72. There are a total of 31 two bedroom apartment listings currently available for rent in Tempe.

How have rent prices in Tempe, AZ changed this year?

Rent prices for rentals in Tempe, AZ can fluctuate yearly. Specifically, studio rental prices have changed by 0.26%, one bedroom rental prices have changed by -0.04%, two bedroom rental prices have changed by -0.07%, and three bedroom rental prices have changed by -0.01% year-over-year.

What is a reasonable rent price in Tempe, AZ?

A reasonable rent price in Tempe, AZ is around $2,240/month. You can search for these reasonably priced rental listings on RentHop.