Rents are 18% below what Phoenix's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
Bedroom figures are derived from HUD Fair Market Rents and scaled to match Phoenix'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
January. Asking rents in Phoenix usually run 0.9% below trend in January and 0.7% above it in July, about $25 a month apart at today's median. Based on 11 years of data.
Rent in Phoenix is 1.1% below its high of $1,589 in May 2023, at $1,571 as of September 2026.
Rent in Phoenix changed +1.1% over the year to September 2026. Across the 45 Arizona cities Zillow tracks, the typical change was +1.6%.
From 2019 to 2024, rent in Phoenix rose 41.6% while median household income rose 41.5% ($57,459 to $81,332). Rent outpaced income.
Rent in Phoenix is 33.4% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 6 months in a row, and rose in 7 of the last 12 months.
30% of the median household income ($81,332) is $2,033 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,023); a 3-bedroom is $2,727.
The priciest of 43 ZIP codes in Phoenix, 85028 ($3,174/mo), costs 2.9 times the cheapest, 85031 ($1,107/mo).
From Zillow's monthly rent index (ZORI) for Phoenix. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. 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
Phoenix, AZ is majority owner-occupied, 33.6% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Phoenix, AZ has changed in 5 years
Compared with 2021, rent in Phoenix, AZ has increased by $255 per month, settling near $1,571 after starting the period at $1,316. Household income in the area moved from $64,927 to $81,332 across the same window, up 25.3% versus 2021. Income growth outran rent by about 5.9 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 1,591,119 to 1,642,323 between 2021 and 2024, a 3.2% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 30.6% to 33.6%. Reading these numbers side by side helps frame whether current listings in Phoenix, AZ look reasonable against where the market sat half a decade ago.
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Can you afford rent in Phoenix on your salary?
At $1,571/mo, how Phoenix rent compares to typical pay (30% rule).
Phoenix rent by bedroom count
Median rent for each apartment size in Phoenix. Click any size for full breakdown.
Tips for renters in Phoenix
Last updated: October 17, 2026
The median rent in Phoenix is $1,571/mo as of October 2026. A studio apartment averages $1,131/mo while a 2-bedroom runs $1,443/mo. One-bedroom apartments average $1,240/mo and 3-bedroom units go for $1,945/mo.
At 23% of local median household income ($81,332/yr), Phoenix ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.1% over the past year.
Frequently asked questions
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Which nearby cities are cheaper to rent in than Phoenix?
At $1,571/mo, rent takes ~23% of Phoenix's median household income ($81,332/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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