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City Report · AZ

Phoenix

Pop. 1,642,323·39th most expensive in Arizona·Rental market data updated monthly for Phoenix, AZ
Median rent (all units)
$1,569/mo
Year-over-Year
-0.3%
Month-over-Month
-0.5%
vs US Median
-$396
Falling (Monthly)
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Most AffordableMost Expensive
Phoenix · $1,569
More affordable than 71% of US cities · National median $1,965/mo
Rent Reality Score
89/100
Great value
OverheatedFairGreat value

Rents are 19% below what Phoenix's 10-year trend predicts — a better deal than its own history suggests.

Actual rent
$1,569/mo
Expected by trend
$1,946/mo
The Rent Reality Score compares today's median rent to where Phoenix's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$1,130
1 BR
$1,238
2 BR
$1,441
3 BR
$1,943
4 BR+
$2,183
Research median
$1,441/mo

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

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$18,828/yr
At $1,569/mo median
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (-0.3% YoY, -0.5% MoM), not inventory.
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Demographics

Who lives here

Phoenix, AZ is majority owner-occupied, 33.6% of residents hold a bachelor's degree or higher.

Population
1,642,323
Median income
$81,332
Median age
34.9
Renters
42.7%
Age distribution
23.6%
26.5%
26.6%
12.2%
Under 1823.6%
18–3426.5%
35–5426.6%
55–6411%
65+12.2%
Gender
50.2%
49.8%
Male50.2%
Female49.8%
Race & ethnicity
47.9%
42%
White47.9%
Black7.8%
Hispanic42%
Asian4.1%
Education (25+)
15.2%
22.9%
28.4%
33.6%
No HS diploma15.2%
HS diploma22.9%
Some college28.4%
Bachelor's+33.6%
Housing tenure
57.3%
42.7%
Owner57.3%
Renter42.7%

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

2021 vs 2026

How Phoenix, AZ has changed in 5 years

Rent
$1,321 → $1,569
up 18.8%
Income
$64,927 → $81,332
up 25.3%
Population
1,591,119 → 1,642,323
up 3.2%
Renter share
43.9% → 42.7%
-1.2 pts
Bachelor's+
30.6% → 33.6%
+3.0 pts
Median age
34.1 → 34.9
+0.8 yrs

Compared with 2021, rent in Phoenix, AZ has increased by $248 per month, settling near $1,569 after starting the period at $1,321. 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 6.5 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.

Community

Discussions about Phoenix

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View Phoenix rent history (2015–2026) →
Salary vs rent

Can you afford rent in Phoenix on your salary?

At $1,569/mo, how Phoenix rent compares to typical pay (30% rule).

By apartment size

Phoenix rent by bedroom count

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

Local insights

Tips for renters in Phoenix

About renting in Phoenix, AZ

Last updated: July 20, 2026

The median rent in Phoenix is $1,569/mo as of July 2026. A studio apartment averages $1,130/mo while a 2-bedroom runs $1,441/mo. One-bedroom apartments average $1,238/mo and 3-bedroom units go for $1,943/mo.

At 23% of local median household income ($81,332/yr), Phoenix ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.3% over the past year.

FAQ

Frequently asked questions

Is Phoenix an affordable city for renters?

Phoenix is considered very affordable for renters. At $1,569/mo, rent takes approximately 23% of the local median household income ($81,332/yr). The standard benchmark is 30%. Phoenix falls comfortably within that range.

How much income do you need to rent in Phoenix?

To keep rent at or below 30% of gross income, you would need to earn at least $63,000/year (~$30/hour full-time) to afford the median rent of $1,569/mo in Phoenix. The local median household income is $81,332/yr, meaning the typical Phoenix household meets that threshold.

Is rent going up or down in Phoenix?

Rent in Phoenix has been relatively stable over the past year, with a 0.3% change year over year as of July 2026.

Which Phoenix neighborhoods have the lowest rent?

The most affordable ZIP codes in Phoenix are 85031 ($1,025/mo), 85009 ($1,182/mo), and 85017 ($1,215/mo). Citywide, the median rent in Phoenix is $1,569/mo.

How does Phoenix rent compare to other cities in Arizona?

Phoenix is one of the more affordable cities in Arizona for rent, ranking #39 out of 51 tracked cities at $1,569/mo.

Which nearby cities are cheaper to rent in than Phoenix?

Glendale is nearby and more affordable at $1,524/mo, which is $45 less than Phoenix.

What percentage of Phoenix residents rent vs. own?

According to Census data, approximately 42.7% of Phoenix households are renters, while 57.3% are owner-occupied. Phoenix leans toward homeownership, which can mean a smaller rental inventory.

How does Phoenix rent compare to the national average?

Phoenix's median rent of $1,569/mo is $396 (20%) below the US national median of $1,965/mo. Within Arizona, it ranks #39 out of 51 tracked cities.
Income Affordability
23%
VERY AFFORDABLE

At $1,569/mo, rent takes ~23% of Phoenix's median household income ($81,332/yr). The standard benchmark is 30%.

Phoenix 23%Benchmark 30%
State income tax2.5%
Run the Phoenix affordability calculator →
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How does this area stack up?

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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Phoenix, AZ

Recent submissions

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