Phoenix, AZ Rental Market Trends
Last updated: October 31, 2025 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Phoenix is $1,514, a 1.37% decrease compared to the previous year, when the average rent was $1,535.
Studio Apartments at $1,082 offer the most budget-friendly option with 430 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 684 square feet for $1,375, balancing privacy and affordability.
Two-beedroom units at $1,663 offer 979 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,296 sq ft) for $2,153, suitable for larger households.
Average rent in Phoenix, AZ
Last updated: October 31, 2025
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,514 | 819 sq. ft. |
| Studio | $1,082 | 430 sq. ft. |
| 1 Bed | $1,375 | 684 sq. ft. |
| 2 Beds | $1,663 | 979 sq. ft. |
| 3 Beds | $2,153 | 1,296 sq. ft. |
Phoenix, AZ rent trends
Rental prices in Phoenix, AZ have decreased by 1.37% over the past year. The average rent moved from $1,535 to $1,514.
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?
258,028 or 43% of the households in Phoenix, AZ are renter-occupied while 343,369 or 57% are owner-occupied.
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.