Phoenix, AZ Rental Market Trends

Last updated: March 30, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau

Average rent in Phoenix, AZ

Last updated: March 30, 2026

Phoenix, AZ rent trends

Rental prices in Phoenix, AZ have decreased by 2.25% over the past year. The average rent moved from $1,510 to $1,476.

What's the typical rent budget in Phoenix, AZ?

The largest share of rentals in Phoenix, AZ (47%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.

Do most people rent or own in Phoenix, AZ?

Access comprehensive real estate data and information on Yardi® Matrix

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Average Rent in Phoenix, AZ By Neighborhood

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Phoenix | Rent Comparison by Neighborhood

Neighborhood
vs.

Rent in Ahwatukee Foothills is 32% higher than in Alhambra

$1,585

Ahwatukee Foothills rent is 7% higher than Phoenix average

Average Rent $1,585
$1,202

Alhambra rent is 19% lower than Phoenix average

Average Rent $1,202

How Phoenix Compares to Other Cities

Where this data comes from

The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.

Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Phoenix apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.

Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.