Average Rent in Phoenix, AZ

Apartments & Houses by Size

Rentometer, Inc. | Data as of 11/14/2026

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Current rent in Phoenix (all property types)

  • $1,082 Studio
  • $1,499 1 Bedroom
  • $1,659 2 Bedroom
  • $2,413 3 Bedroom
  • $3,613 4+ Bedroom

Phoenix rentals offer a dynamic blend of modern apartments and singleโ€‘family homes that cater to a wide spectrum of lifestyles. Whether youโ€™re drawn to the vibrant nightlife of downtown, the familyโ€‘friendly neighborhoods of Arcadia, or the scenic foothills near Camelback Mountain, the cityโ€™s housing inventory provides options that balance convenience with the iconic Southwest charm. Renters benefit from easy access to cultural attractions such as the Desert Botanical Garden, a thriving arts scene, and an expanding job market anchored by technology, healthcare, and aerospace industries.

The Phoenix housing market remains competitively priced across property types. Studio apartments typically fall into the $1200s, while oneโ€‘bedroom units often sit in the $1400 range. Twoโ€‘bedroom apartments generally rent in the $1800โ€‘$1900 bracket, and larger threeโ€‘ and fourโ€‘plus bedroom layouts can reach the $2400s and higher. Comparable houses follow a similar pattern, with studio homes near the $1100s and fourโ€‘plus bedroom homes approaching the $3200 range. Median rents align closely with these averages, offering a reliable benchmark for prospective tenants seeking affordable yet spacious living environments.

Beyond the numbers, Phoenix delivers a lifestyle enriched by yearโ€‘round sunshine, extensive outdoor recreation, and a robust publicโ€‘transport network that connects residents to major employment centers and educational institutions. The city's commitment to sustainable development and growing residential amenitiesโ€”such as petโ€‘friendly parks, coโ€‘working spaces, and boutique fitness centersโ€”continues to attract renters looking for both comfort and community. Whether youโ€™re a young professional, a growing family, or a retiree seeking an active urban setting, Phoenixโ€™s rental market provides a welcoming foundation for your next chapter.

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Phoenix Rent by Property Type & Bedroom Count

Averages, medians, and ranges across recent rental listings

Property Type Bedrooms Average Median Min – Max 25th – 75th
Apartment Studio $1,086 $926 $650 – $2,720 $815 – $1,115
Apartment 1 Bedroom $1,527 $1,281 $650 – $6,064 $959 – $1,550
Apartment 2 Bedroom $1,632 $1,468 $720 – $5,700 $1,265 – $1,709
Apartment 3 Bedroom $2,444 $1,963 $775 – $7,125 $1,602 – $3,200
Apartment 4+ Bedroom $6,695 $6,200 $1,830 – $13,600 $2,788 – $10,719
House 1 Bedroom $1,288 $1,175 $725 – $2,100 $1,099 – $1,500
House 2 Bedroom $1,745 $1,822 $700 – $3,000 $1,425 – $2,100
House 3 Bedroom $2,407 $2,249 $1,105 – $5,745 $1,995 – $2,550
House 4+ Bedroom $3,403 $2,800 $240 – $18,500 $2,295 – $3,900

Current rent in Phoenix (all property types)

  • $1,082 Studio
  • $1,499 1 Bedroom
  • $1,659 2 Bedroom
  • $2,413 3 Bedroom
  • $3,613 4+ Bedroom
ACS 2020โ€“2024 5-year estimates: median gross rent $1,582

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Area Profile

Demographic & economic context for this area

Demographics

$81,332
Median household income
34.9
Median age
33.6%
Bachelor’s degree or higher
13.7%
Poverty rate
1,642,323
Population
610,442
Households

Housing

$420,700
Median home value
$1,850
Median property tax
0.46%
Effective property tax rate
42.7%
Renter share
6.5%
Vacancy rate
49.1%
Cost-burdened renters
653,065
Housing units
260,441
Renter households
4.8%
Rental vacancy rate
26.4%
Units in 5+ unit buildings
1985
Median year built

Investor ratios

Derived from the ACS medians above — the typical unit in this area, not a specific property

4.51%
Gross rent yield
22.2
Price-to-rent ratio
23.3%
Rent-to-income

Race & ethnicity

  • White 47.9%
  • Black 7.8%
  • Hispanic 42.0%
  • Asian 4.1%

Commute

25.6 min average

Rent trend & yield

Derived from Rentometer listings, trailing 365 days (computed Nov 7, 2026) and ACS 2020โ€“2024 5-year estimates

โ†“ -4.5%
Median rent, year over year
5.7%
Gross rent yield
29.5%
Rent-to-income
+26.4%
Asking rent vs. Census gross rent

New construction

Residential units permitted in 2025 (Census Building Permits Survey)

10,584
Units permitted
3,154
Single-family
7,430
Multi-family (2+ units)
6,694
5+ unit buildings (rental supply)
70.2%
Multi-family share (of units permitted)
โ†‘ +17.6%
YoY vs. 2024

Economy

4.7%
Unemployment (July 2026)
โ†‘ trending up vs. 12mo ago
$1,512
Avg. weekly wage (Q4 2025)
โ†‘ 2.4% YoY
2,314,607
Avg. employment (Q4 2025)

Housing affordability

44.8%
Cost-burdened renters (paying >30% of income on housing)
21.3%
Severely cost-burdened (paying >50% of income on housing)
81.0%
Cost-burdened low-income renters (households at or below 50% of area median income)

Source: Rentometer listings (Rentometer listings, trailing 365 days (computed Nov 7, 2026)) ยท U.S. Census Bureau, ACS 2020โ€“2024 5-year estimates ยท U.S. Census Bureau Building Permits Survey, 2025 ยท U.S. Bureau of Labor Statistics, LAUS July 2026 ยท U.S. Bureau of Labor Statistics, QCEW Q4 2025 ยท HUD CHAS, CHAS 2018โ€“2022


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About this data

Rent statistics, listings analysis, and visualizations on this page are produced by Rentometer, Inc.

If you cite, share, or republish data from this report, please credit Rentometer.

About this data