Tempe Park Place
4540 S Rural Rd,
Tempe, AZ 85282
$1,020 - $1,630 | 1-2 Beds
The Lakes neighborhood is in a convenient location near freeways, major employers, and a ton of great shops and dining establishments. And speaking of places to grab a bite to eat, the diverse menus at the Watershed and Pier 54 restaurants are perfection – and you can enjoy your meal lakeside!
Shopping in the area includes Whole Foods Market, Trader Joes, and Target. Be sure to grab a pastry at the popular Butch Bros or Steve’s Espresso coffee houses. The neighborhood frequently hosts events like potlucks, cookouts, tennis tournaments, and a lighted boat parade. Outdoor recreation is plentiful at Gaicki and Sudder Park.
As of March 2025, the average apartment rent in The Lakes is $1,189 for a studio, $1,481 for one bedroom, $1,708 for two bedrooms, and $2,108 for three bedrooms. Apartment rent in The Lakes has decreased by -3.3% in the past year.
Studio
447 sq ft
Average Sq Ft
$1,189/month
Average Rent
1 BR
738 sq ft
Average Sq Ft
$1,481/month
Average Rent
2 BR
992 sq ft
Average Sq Ft
$1,708/month
Average Rent
3 BR
1,311 sq ft
Average Sq Ft
$2,108/month
Average Rent
Somewhat Walkable
out of 100 WalkScore® Rating
You might be able to get out and walk when living in this area. Some errands can be accomplished on foot, but for others you’ll need a car.
Some Transit
out of 100 TransitScore® Rating
You'll likely want a car when living in this area since it has few transit options.
Very Bikeable
out of 100 BikeScore® Rating
This area is very bikeable. You’ll find a variety of bike paths and lanes.
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† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2025.