RentDataNowRentDataNow
City Report · AZ

Paradise Valley

Pop. 12,611·1st most expensive in Arizona·Paradise Valley rents are up 79.9% over the past year
Median rent (all units)
$2,905/mo
Year-over-Year
+79.9%
Month-over-Month
-67.5%
vs US Median
+$940
Falling (Monthly)
Be the first to discuss Paradise Valley rents ↓
Most AffordableMost Expensive
Paradise Valley · $2,905
More expensive than 89% of US cities · National median $1,965/mo
Affordability
14% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $2,905/mo, rent takes about 14% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$116,000/yr
Local median income
$247,159/yr
Based on the 30%-of-income rule using Paradise Valley's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$2,170
1 BR
$2,380
2 BR
$2,770
3 BR
$3,730
4 BR+
$4,170
Research median
$2,770/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost
$34,860/yr
At $2,905/mo median
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 79.9% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (+79.9% YoY, -67.5% MoM), not inventory.
Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Paradise Valley, AZ is majority owner-occupied, has a large retiree population, has a median income above the national average, 74.3% of residents hold a bachelor's degree or higher.

Population
12,611
Median income
$247,159
Median age
55.8
Renters
5%
Age distribution
18.2%
21.9%
18.4%
32.7%
Under 1818.2%
18–348.8%
35–5421.9%
55–6418.4%
65+32.7%
Gender
51.5%
48.5%
Male51.5%
Female48.5%
Race & ethnicity
80.7%
White80.7%
Black0.5%
Hispanic7.8%
Asian4.8%
Other6.2%
Education (25+)
17.8%
74.3%
No HS diploma0.9%
HS diploma7%
Some college17.8%
Bachelor's+74.3%
Housing tenure
95%
Owner95%
Renter5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Paradise Valley, AZ has changed in 5 years

Income
$203,659 → $247,159
up 21.4%
Population
12,666 → 12,611
down 0.4%
Renter share
6.1% → 5%
-1.1 pts
Bachelor's+
71.7% → 74.3%
+2.6 pts
Median age
54.4 → 55.8
+1.4 yrs

Household income in the area moved from $203,659 to $247,159 across the same window, up 21.4% versus 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 71.7% to 74.3%.

Community

Discussions about Paradise Valley

No discussions yet. Start the conversation.

View Paradise Valley rent history (2015–2026) →
Salary vs rent

Can you afford rent in Paradise Valley on your salary?

At $2,905/mo, how Paradise Valley rent compares to typical pay (30% rule).

By apartment size

Paradise Valley rent by bedroom count

Median rent for each apartment size in Paradise Valley. Click any size for full breakdown.

Local insights

Tips for renters in Paradise Valley

About renting in Paradise Valley, AZ

Last updated: July 20, 2026

The median rent in Paradise Valley is $2,905/mo as of July 2026. A studio apartment averages $2,170/mo while a 2-bedroom runs $2,770/mo. One-bedroom apartments average $2,380/mo and 3-bedroom units go for $3,730/mo.

At 14% of local median household income ($247,159/yr), Paradise Valley ranks as affordable compared to the national benchmark of 30%. Rents have increased 79.9% over the past year.

FAQ

Frequently asked questions

Is Paradise Valley an affordable city for renters?

Paradise Valley is considered very affordable for renters. At $2,905/mo, rent takes approximately 14% of the local median household income ($247,159/yr). The standard benchmark is 30%. Paradise Valley falls comfortably within that range.

How much income do you need to rent in Paradise Valley?

To keep rent at or below 30% of gross income, you would need to earn at least $116,000/year (~$56/hour full-time) to afford the median rent of $2,905/mo in Paradise Valley. The local median household income is $247,159/yr, meaning the typical Paradise Valley household meets that threshold.

Is rent going up or down in Paradise Valley?

Rent in Paradise Valley has increased 79.9% over the past year as of July 2026, putting upward pressure on renter budgets.

How does Paradise Valley rent compare to other cities in Arizona?

Paradise Valley is one of the pricier cities in Arizona for rent, ranking #1 out of 51 tracked cities at $2,905/mo.

Which nearby cities are cheaper to rent in than Paradise Valley?

Several nearby cities have lower median rents than Paradise Valley ($2,905/mo): Glendale ($1,524/mo), Phoenix ($1,569/mo), Tempe ($1,667/mo).

What percentage of Paradise Valley residents rent vs. own?

According to Census data, approximately 5% of Paradise Valley households are renters, while 95% are owner-occupied. Paradise Valley leans toward homeownership, which can mean a smaller rental inventory.

How does Paradise Valley rent compare to the national average?

Paradise Valley's median rent of $2,905/mo is $940 (48%) above the US national median of $1,965/mo. Within Arizona, it ranks #1 out of 51 tracked cities.
Income Affordability
14%
VERY AFFORDABLE

At $2,905/mo, rent takes ~14% of Paradise Valley's median household income ($247,159/yr). The standard benchmark is 30%.

Paradise Valley 14%Benchmark 30%
State income tax2.5%
Run the Paradise Valley affordability calculator →
Lowest-rent ZIP codes in Paradise Valley
Compare

How does this area stack up?

Pick another city or ZIP to compare.

Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Paradise Valley, AZ

Recent submissions

Be the first to submit your rent for Paradise Valley.

Recent discussions

No discussions yet.