How much does it cost to rent in Prescott, AZ?

As of July 2026, the median monthly rent in Prescott, AZ is $1,841. This figure is based on aggregated data from public sources and community-submitted rents.

Is Prescott cheaper than other Arizona cities?

Prescott falls in the middle range for Arizona, ranking #24 out of 51 cities at $1,841/mo.

When was Prescott rent data last updated?

Prescott rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

City Report · AZ

Prescott

Name: Average Rent Prices in Prescott, AZ
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 47,400·24th most expensive in Arizona·Rental market data updated monthly for Prescott, AZ

Median rent (all units)

$1,841/mo

Year-over-Year

-4.4%

Month-over-Month

-2.8%

vs US Median

-$124

Falling (Monthly)

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Most AffordableMost Expensive

Prescott · $1,841

More affordable than 51% of US cities · National median $1,965/mo

Rent Reality Score

62/100

Good value

OverheatedFairGreat value

Rents are 6% below what Prescott's 10-year trend predicts — a better deal than its own history suggests.

Actual rent

$1,841/mo

Expected by trend

$1,963/mo

The Rent Reality Score compares today's median rent to where Prescott's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$1,073

1 BR

$1,260

2 BR

$1,563

3 BR

$2,157

4 BR+

$2,480

Research median

$1,563/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

$22,092/yr

At $1,841/mo median

Rent Market Meter

Strong Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are down 4.4% year-over-year. Push hard on price, concessions, and lease terms.

Based on rent-price momentum (-4.4% YoY, -2.8% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Prescott, AZ is majority owner-occupied, has a large retiree population, 39.9% of residents hold a bachelor's degree or higher.

Population

47,400

Median income

$70,874

Median age

59.7

Renters

32%

Age distribution

17.2%

14.9%

15.3%

40.6%

Under 1812%

18–3417.2%

35–5414.9%

55–6415.3%

65+40.6%

Gender

50.3%

49.7%

Male50.3%

Female49.7%

Race & ethnicity

85.5%

White85.5%

Black0.5%

Hispanic10%

Asian2.3%

Other1.7%

Education (25+)

19.5%

36.3%

39.9%

No HS diploma4.3%

HS diploma19.5%

Some college36.3%

Bachelor's+39.9%

Housing tenure

68%

32%

Owner68%

Renter32%

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

2022 vs 2026

How Prescott, AZ has changed in 5 years

Rent

$1,727 → $1,841

up 6.6%

Income

$61,090 → $70,874

up 16.0%

Population

45,063 → 47,400

up 5.2%

Renter share

30.5% → 32%

+1.5 pts

Bachelor's+

38.4% → 39.9%

+1.5 pts

Median age

60.5 → 59.7

-0.8 yrs

Across the past five years, the going rent in Prescott, AZ has shifted from $1,727 to $1,841, up 6.6% since 2022. On the earnings side, the typical household in Prescott, AZ now reports about $70,874, up from $61,090 in 2021. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. Census counts show Prescott, AZ adding about 2,337 residents over the five-year window, up 5.2% on net. The renter share has risen from 30.5% to 32%, with owner-occupied housing accounting for the remainder. For context, the 2022 to 2026 window covers an unusually volatile run for US rents nationally, and Prescott, AZ reflects that arc in its own way.

Community

Discussions about Prescott

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View Prescott rent history (2015–2026) →

Salary vs rent

Can you afford rent in Prescott on your salary?

At $1,841/mo, how Prescott rent compares to typical pay (30% rule).

Registered Nurse

Avg $91,646/yr · Rent = 24.1% income

affordable

Elementary School Teacher

Avg $65,068/yr · Rent = 34% income

stretched

Police Officer

Avg $74,952/yr · Rent = 29.5% income

affordable

Software Developer

Avg $133,967/yr · Rent = 16.5% income

very comfortable

Lawyer

Avg $171,176/yr · Rent = 12.9% income

very comfortable

Firefighter

Avg $60,926/yr · Rent = 36.3% income

stretched

Truck Driver

Avg $55,009/yr · Rent = 40.2% income

rent-burdened

Electrician

Avg $67,803/yr · Rent = 32.6% income

stretched

By apartment size

Prescott rent by bedroom count

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

Local insights

Tips for renters in Prescott

About renting in Prescott, AZ

Last updated: July 20, 2026

The median rent in Prescott is $1,841/mo as of July 2026. A studio apartment averages $1,073/mo while a 2-bedroom runs $1,563/mo. One-bedroom apartments average $1,260/mo and 3-bedroom units go for $2,157/mo.

At 31% of local median household income ($70,874/yr), Prescott ranks as moderate compared to the national benchmark of 30%. Rents have decreased 4.4% over the past year.

FAQ

Frequently asked questions

Is Prescott an affordable city for renters?

Prescott is considered moderate for renters. At $1,841/mo, rent takes approximately 31% of the local median household income ($70,874/yr). The standard benchmark is 30%. Prescott slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in Prescott?

To keep rent at or below 30% of gross income, you would need to earn at least $74,000/year (~$36/hour full-time) to afford the median rent of $1,841/mo in Prescott. The local median household income is $70,874/yr, meaning the typical Prescott household falls short of that threshold.

Is rent going up or down in Prescott?

Rent in Prescott has decreased 4.4% over the past year as of July 2026, offering some relief compared to 12 months ago.

Which Prescott neighborhoods have the lowest rent?

The most affordable ZIP codes in Prescott are 86305 ($1,632/mo), 86303 ($1,744/mo), and 86301 ($1,948/mo). Citywide, the median rent in Prescott is $1,841/mo.

How does Prescott rent compare to other cities in Arizona?

Prescott is middle-of-the-pack for Arizona for rent, ranking #24 out of 51 tracked cities at $1,841/mo.

Which nearby cities are cheaper to rent in than Prescott?

Several nearby cities have lower median rents than Prescott ($1,841/mo): Wickenburg ($1,800/mo), Prescott Valley ($1,804/mo).

What percentage of Prescott residents rent vs. own?

According to Census data, approximately 32% of Prescott households are renters, while 68% are owner-occupied. Prescott leans toward homeownership, which can mean a smaller rental inventory.

How does Prescott rent compare to the national average?

Prescott's median rent of $1,841/mo is $124 (6%) below the US national median of $1,965/mo. Within Arizona, it ranks #24 out of 51 tracked cities.

Income Affordability

31%

MODERATE

At $1,841/mo, rent takes ~31% of Prescott's median household income ($70,874/yr). The standard benchmark is 30%.

Prescott 31%Benchmark 30%

State income tax2.5%

Run the Prescott affordability calculator →

Nearby cities