$1,900
Average Rent
$1,750
Median Rent
+5.2%
Year-over-Year Growth
6.1%
Vacancy Rate
About Phoenix, AZ
Phoenix is known for its sunny weather and rapidly growing tech sector, offering a blend of desert beauty and urban growth.
Popular Neighborhoods in Phoenix
Downtown Phoenix
$2,100/moGrowing urban center with new high-rises and direct light rail access.
Arcadia
$2,400/moHighly desirable residential area with lush landscaping and great views of Camelback Mountain.
Chandler
$1,800/moTech-heavy suburb with major employers like Intel.
Phoenix Rental Market Insights
Phoenix saw some of the highest rent growth in the nation over the last 5 years.
The "Silicon Desert" trend is bringing high-income tech workers to the East Valley.
Increased supply of new luxury apartments is starting to stabilize monthly rents.
Frequently Asked Questions
Why has Phoenix rent increased so much?
Strong population growth and a booming tech sector have significantly increased demand.