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What to Know About
Living in Phoenix, AZ
Phoenix, the vibrant "Valley of the Sun," basks in an endless summer, serving up an irresistible fusion of awe-inspiring deserts, thrilling outdoor escapades, and a pulsing culinary scene. Savor a delightful mix of culinary delights ranging from the sublime flavors of southwestern cuisine to delectable international fare. Culture seekers will love Phoenix's world-class cultural venues, including the magnificent Phoenix Art Museum, the captivating Heard Museum, and the legendary Phoenix Symphony Orchestra. Finally, embark on outdoor adventures and experience the magic of South Mountain Park and the enchanting Desert Botanical Garden, where nature lovers can stroll through the endless hiking trails or tee off on the immaculate golf courses.
Sports enthusiasts will be thrilled to cheer on Phoenix's professional teams, including the Arizona Cardinals (NFL), Arizona Coyotes (NHL), Arizona Diamondbacks (MLB), and the Phoenix Suns (NBA). And for a truly unforgettable experience, mark your calendars for must-attend events such as the electrifying Arizona State Fair, the world-famous Barrett-Jackson Auto Show, and the exhilarating Cactus League Spring Training.
Phoenix is a dynamic city that caters to those seeking a superior quality of life and many exciting experiences, which is why it's such a great place to live.
Rental Market Trends
Phoenix, AZ
As of July 2025, Phoenix's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Phoenix's average rent is 17.3% ($288) lower than the Arizona average of $1,666 and 22.4% ($397) lower than the U.S. average of $1,775.
Average Rent
$1,378
Monthly ChangeMonth Over Month Change
0.9% ($13)
Yearly ChangeYear Over Year Change
14.4% ($231)
Avg. Days on MarketAverage Days on Market
27
| Unit Type | Average Rent | Monthly ChangeMonth Over Month Change | Yearly ChangeYear Over Year Change |
|---|---|---|---|
| 1 Bed | $1,207 | 0.2% ($3) | 11.1% ($150) |
| 2 Beds | $1,423 | 0.4% ($5) | 12.2% ($198) |
| 3 Beds | $2,166 | 1.3% ($28) | 3.5% ($79) |
| Nearby Cities | Average Rent | Avg. Rent vs. PhoenixAverage Rent vs. Phoenix | Avg. Days on MarketAverage Days on Market |
|---|---|---|---|
| Paradise Valley | $1,703 | 23.6% ($325) | 24 days |
| Glendale | $1,402 | 1.7% ($24) | 28 days |
| Tempe | $1,553 | 12.7% ($175) | 21 days |
| Tolleson | $1,779 | 29.1% ($401) | 25 days |
| Laveen | $2,074 | 50.5% ($696) | 26 days |
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Phoenix Rental Market FAQs
Explore rental prices, market trends, and availability in Phoenix, AZ.
The average rent in Phoenix, AZ is $1,378 per month.
Homes in Phoenix typically rent for between $845 and $2,816 per month, with an average of $1,378 per month.
In Phoenix, the average rent for a 1-bedroom home is $1,207 per month, for a 2-bedroom home, $1,423 per month, and a 3-bedroom home is $2,166 per month.
The average rent in Phoenix is 22.4% ($397) lower than the national average of $1,775 per month.
The average rent in Phoenix has decreased by 0.9% ($13) in the last month and decreased by 14.4% ($231) over the past year.
The rental market in Phoenix, AZ, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In Phoenix, AZ, the average rental stays on the market for approximately 27 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There is currently 1,634 rental property available in Phoenix, AZ.
Based on the current averages, a household would need an annual income of $56,920 to comfortably afford a 2-bedroom home in Phoenix.
