At $2,069/mo, rent takes about 10% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
Bedroom figures are derived from HUD Fair Market Rents and scaled to match Paradise Valley's market median, because the published HUD values all ran above it. They are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Paradise Valley changed +2.1% over the year to September 2026. Across the 45 Arizona cities Zillow tracks, the typical change was +1.6%.
Rent has fallen 2 months in a row, and rose in 7 of the last 12 months.
30% of the median household income ($247,159) is $6,179 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($4,170).
Phoenix, 8 miles away, rents for 24% less ($1,571/mo), about $6,000 a year in savings.
From Zillow's monthly rent index (ZORI) for Paradise Valley. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Paradise Valley, AZ has changed in 5 years
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%.
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Can you afford rent in Paradise Valley on your salary?
At $2,069/mo, how Paradise Valley rent compares to typical pay (30% rule).
Paradise Valley rent by bedroom count
Median rent for each apartment size in Paradise Valley. Click any size for full breakdown.
Tips for renters in Paradise Valley
Last updated: October 17, 2026
The median rent in Paradise Valley is $2,069/mo as of October 2026. A studio apartment averages $1,491/mo while a 2-bedroom runs $1,903/mo. One-bedroom apartments average $1,635/mo and 3-bedroom units go for $2,562/mo.
At 10% of local median household income ($247,159/yr), Paradise Valley ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.1% over the past year.
Frequently asked questions
How much income do you need to rent in Paradise Valley?
Is rent going up or down in Paradise Valley?
How does Paradise Valley rent compare to other cities in Arizona?
At $2,069/mo, rent takes ~10% of Paradise Valley's median household income ($247,159/yr). The standard benchmark is 30%.
How does this area stack up?
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Estimated from ZIP-level data
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