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Rental market trends in Phoenix, AZ

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Average Rent in Phoenix, AZ

Avg. Rent	Annual Change
Studio - $1,107	-3%
1 Bed - $1,309	-4%
2 Beds - $1,613	+2%

Last updated 3/22/2023

Average Apartment Cost in Phoenix, AZ

The average rent for apartments in Phoenix, AZ, is between $1,107 and $1,613 in 2023. For a studio apartment in Phoenix, AZ, the average rent is $1,107. When it comes to 1-bedroom apartments, the average rent in Phoenix, AZ, is $1,309. For a 2-bedroom apartment, the average rent is $1,613.

Apartment Rent Ranges in Phoenix, AZ

	Apartment Prices Proportion

		1%			6%			25%			28%			41%

Neighborhood Apartment Rent Trends in Phoenix, AZ

Neighborhood	Studio Avg Rent	Annual Change
Ahwatukee Foothills	$2,430	+25%
South Phoenix	$2,372	+22%
Arcadia Lite	$1,939	--
Desert View	$1,719	+6%
Central Avenue Corridor	$1,625	+30%
Pierson Place	$1,577	-28%
Downtown	$1,539	+1%
Central City	$1,539	+40%
Medlock Place	$1,295	+62%
North Central Corridor	$1,205	+2%
North Phoenix	$1,190	-6%
Arcadia	$1,150	-3%
Paradise Valley Oasis	$1,100	--
Alhambra	$1,092	+10%
Encanto	$1,087	-5%
Park Central	$1,075	-14%
West Phoenix	$1,070	+9%
Camelback East	$1,062	-6%
North Mountain	$1,050	+10%
Maryvale	$1,014	0%
Deer Valley	$975	-13%
Coronado	$950	--
Melrose Woodlea	$950	+32%
Maryland Sands	$950	--
Citrus Acres	$945	+9%
Lake Biltmore Village	$920	0%
Estrella	$899	-3%
South Mountain	$862	+6%
Roosevelt	$850	-55%

Neighborhood	1 Bed Avg Rent	Annual Change
Paradise Valley	$2,137	+11%
North Gateway	$2,067	-4%
Evans-Churchill	$2,036	+63%
Toscana at Desert Ridge Condominiums	$1,950	--
Desert View	$1,884	+2%
Desert Ridge	$1,870	-16%
Warehouse District	$1,849	--
Arcadia Lite	$1,845	-3%
Downtown	$1,650	-7%
Ahwatukee Foothills	$1,606	-12%
Deer Valley	$1,541	+2%
North Phoenix	$1,500	+1%
Villa de Paz	$1,500	0%
Central Avenue Corridor	$1,475	+2%
Estrella	$1,475	+5%
South Phoenix	$1,450	-17%
Central City	$1,439	-14%
Coronado	$1,425	--
Coronado Historic District	$1,425	--
Encanto	$1,387	-2%
North Central Corridor	$1,350	-5%
Camelback East	$1,325	-2%
Greenfield Acres	$1,300	--
Park Central	$1,299	-10%
Pierson Place	$1,299	-47%
South Mountain	$1,291	+32%
Lake Biltmore Village	$1,250	+15%
Maryvale	$1,227	-6%
Sunnyslope	$1,225	--
Alhambra	$1,195	+4%
West Phoenix	$1,195	-2%
North Mountain	$1,192	0%
Paradise Valley Oasis	$1,175	-16%
Arcadia	$1,145	-18%
Papago Gardens	$1,100	+7%
Citrus Acres	$1,055	+9%
Melrose Woodlea	$1,050	+8%
Maryland Sands	$1,050	--
Fruitland Acres	$1,045	--
Roosevelt	$997	-58%
Garfield	$995	--
Central City South	$949	--
Medlock Place	$925	-14%

Neighborhood	2 Beds Avg Rent	Annual Change
Arcadia	$3,800	+109%
Biltmore	$3,750	-62%
Toscana at Desert Ridge Condominiums	$3,100	-18%
Central City	$2,825	+41%
Evans-Churchill	$2,647	+32%
Paradise Valley	$2,552	+19%
Desert Ridge	$2,521	-18%
Desert View	$2,434	-6%
North Gateway	$2,427	+3%
North Central Corridor	$2,390	+20%
Garfield	$2,275	--
Warehouse District	$2,271	--
Arcadia Lite	$2,177	-2%
Central Avenue Corridor	$2,065	+9%
Medlock Place	$1,995	+6%
Pierson Place	$1,920	-44%
Coronado	$1,900	0%
Coronado Historic District	$1,900	0%
North Phoenix	$1,891	+11%
Estrella	$1,800	+13%
Encanto	$1,775	+22%
Deer Valley	$1,739	+6%
Greenfield Acres	$1,700	+17%
Villa de Paz	$1,700	0%
Ahwatukee Foothills	$1,692	-14%
Camelback East	$1,647	+1%
Park Central	$1,599	--
Paradise Valley Oasis	$1,550	-13%
Maryvale	$1,531	+8%
Fruitland Acres	$1,495	--
South Phoenix	$1,454	-12%
North Mountain	$1,450	0%
West Phoenix	$1,414	+3%
South Mountain	$1,404	-12%
Alhambra	$1,389	+1%
Lake Biltmore Village	$1,359	+14%
Papago Gardens	$1,325	0%
Sunnyslope	$1,315	--
Citrus Acres	$1,250	+14%
Melrose Woodlea	$1,200	-11%
Maryland Sands	$1,170	--

How Other Cities Compare to Phoenix, AZ

City	Studio Avg Rent	Annual Change
Scottsdale	$2,416	+25%
Peoria	$2,150	-25%
Paradise Valley	$1,803	--
Gilbert	$1,580	-31%
Goodyear	$1,425	+34%
Chandler	$1,345	+4%
Tempe	$1,210	0%
Mesa	$1,135	+2%
Glendale	$1,017	+7%
Avondale	$1,000	--
Casa Grande	$1,000	+35%

City	1 Bed Avg Rent	Annual Change
Paradise Valley	$2,600	--
Scottsdale	$2,325	+11%
Tolleson	$1,874	+34%
Gilbert	$1,754	-4%
Goodyear	$1,664	+1%
Chandler	$1,651	-2%
Surprise	$1,650	+2%
Queen Creek	$1,582	+12%
Avondale	$1,545	+1%
Peoria	$1,522	+7%
Sun City	$1,500	-25%
Glendale	$1,372	+6%
Tempe	$1,314	-10%
Mesa	$1,312	-3%
Casa Grande	$1,110	+1%
Apache Junction	$1,100	--
Coolidge	$1,095	+27%
Florence	$1,000	--
Maricopa	$994	-24%
Buckeye	$900	--

City	2 Beds Avg Rent	Annual Change
Paradise Valley	$2,600	+37%
Surprise	$2,222	+20%
Tolleson	$2,196	+114%
Queen Creek	$2,045	0%
Gilbert	$2,039	-1%
Chandler	$1,881	-8%
Anthem	$1,850	--
Avondale	$1,792	0%
Peoria	$1,781	+9%
Goodyear	$1,765	-12%
Glendale	$1,662	-10%
Sun City	$1,650	+10%
Tempe	$1,612	-4%
Mesa	$1,578	-8%
Apache Junction	$1,550	+29%
Buckeye	$1,350	--
Casa Grande	$1,350	+8%
Florence	$1,300	--
Coolidge	$1,195	0%
Maricopa	$1,192	-18%

Phoenix, AZ Rent Trends

Studio	1 Bed	2 Beds
Mar 2022	Apr 2022	May 2022	Jun 2022	Jul 2022	Aug 2022	Sep 2022	Oct 2022	Nov 2022	Dec 2022	Jan 2023	Feb 2023	Mar 2023
$1145	$1100	$1075	$1183	$1157	$1172	$1137	$1124	$1100	$1092	$1113	$1105	$1112
$1357	$1402	$1400	$1427	$1445	$1427	$1362	$1308	$1307	$1287	$1326	$1312	$1312
$1585	$1597	$1650	$1652	$1637	$1662	$1612	$1522	$1557	$1578	$1612	$1624	$1615
$2430	$2699	$2579	$2779	$2653	$2441	$2511	$2327	$2180	$2074	$2181	$2242	$2244

Neighborhood Information for Phoenix, AZ

What are the most affordable neighborhoods in Phoenix, AZ?

The most affordable neighborhoods in Phoenix are Medlock Place, where the average 1-bedroom apartment rent goes for $925, Central City South, where renters pay $949 on average for a 1-bedroom apartment, and Garfield, where the average 1-bedroom apartment rent goes for $995. If you're looking for other great deals, check out the listings in Roosevelt ($997 for a 1-bedroom apartment) or Fruitland Acres ($1,045 for a 1-bedroom apartment), compared to the $1,309 average for a Phoenix 1-bedroom apartment.