Rentometer, Inc. | Data as of 10/22/2025
Tempe, Arizona, blends a lively college atmosphere with a thriving urban core, making it a top destination for renters seeking both convenience and culture. Home to Arizona State University, the city buzzes with youthful energy, while its well‑connected transit system, walkable neighborhoods, and proximity to Phoenix provide easy access to work, entertainment, and outdoor recreation. Iconic spots such as Mill Avenue, Tempe Town Lake, and the Arizona State Sun Devil Stadium contribute to a vibrant lifestyle that appeals to students, professionals, and families alike.
The local rental market offers a diverse mix of apartments and single‑family homes to match a range of preferences. Apartment studios generally fall in the $1400s, with one‑bedroom units moving into the $1500s and two‑bedroom options reaching the $1900s. Larger three‑bedroom apartments trend toward the $2300–$2600 range, while upscale four‑plus‑bedroom units sit within the $2200s. For those who favor houses, studio‑style rentals start in the $1100s, one‑bedroom homes hover around $1100–$1150, and two‑bedroom houses typically rent in the $1800s. Three‑bedroom homes often command mid‑$2400s, and larger four‑plus‑bedroom houses can exceed $3100, reflecting the premium for spacious living in sought‑after neighborhoods.
Renters often gravitate toward distinct areas that match their lifestyle needs. Downtown Tempe and the Mill Avenue district provide walkable access to cafés, nightlife, and public transportation, while the Tempe Town Lake corridor offers scenic views and recreational trails. Families may prefer quiet streets in the historic Tempe Ranch or the growing neighborhoods near the ASU campus. With a blend of modern apartments, charming homes, and a dynamic community, Tempe’s rental market presents ample opportunities for anyone looking to call this West‑side gem home.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | Studio | $1,311 | $1,347 | $599 - $2,072 | $1,109 - $1,534 |
| Apartment | 1 Bedroom | $1,647 | $1,563 | $1,020 - $3,400 | $1,321 - $1,909 |
| Apartment | 2 Bedroom | $1,947 | $1,832 | $950 - $3,633 | $1,486 - $2,322 |
| Apartment | 3 Bedroom | $2,625 | $2,309 | $1,250 - $4,849 | $1,984 - $3,513 |
| House | 1 Bedroom | $1,124 | $1,175 | $799 - $1,400 | $799 - $1,400 |
| House | 2 Bedroom | $2,183 | $2,070 | $1,200 - $4,000 | $1,850 - $2,300 |
| House | 3 Bedroom | $2,624 | $2,467 | $1,000 - $7,000 | $2,175 - $2,800 |
| House | 4+ Bedroom | $3,470 | $3,200 | $895 - $6,250 | $2,650 - $4,250 |
In the current period, the average rent in Tempe was $1,311 for Studio, $1,626 for 1 Bedroom, $1,998 for 2 Bedroom, $2,625 for 3 Bedroom, and $3,100 for 4+ Bedroom.
Data provided by Rentometer, Inc.