Sage Apartments
28425 N Black Canyon Hwy,
Phoenix, AZ 85085
1-3 Beds | $1,545 - $2,275
Rental Market Trends in Phoenix, AZ
What is the average rent in Phoenix, AZ?
$1,322/month
Average Rent
675 Sq Ft
Average Apartment Size
-1.5%
Decrease in the Last Year
As of December 2024, the average rent in Phoenix, AZ is $1,322 per month. This is 15% lower than the national average rent of $1,560/month, making renting in Phoenix more affordable than most cities in the US. When you rent an apartment in Phoenix, you can expect to pay about $1,110 per month for a studio, $1,322 for a one-bedroom apartment, and around $1,566 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,074 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Phoenix, AZ?
In the past year, rent has decreased by 1.5%, which averages out to $20 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2024
Legend
2023
2024
Rent Ranges in Phoenix, AZ
Last Updated December 2024
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
16%
Below $700/month
20%
$700 - $1,000/month
40%
$1,001 - $1,500/month
18%
$1,501 - $2,000/month
7%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Phoenix?
Based on current rent prices, Metrocenter, North Mountain and Maryvale are the most affordable neighborhoods in Phoenix.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Phoenix?
Based on current rent prices, Warehouse District, Roosevelt Row and Desert View are the most expensive neighborhoods in Phoenix.
Neighborhood
Average Rent
Average Sq Ft
Which Phoenix neighborhoods have the most rentals available?
The neighborhoods in Phoenix with the most apartments available are South West Valley, Downtown Phoenix and North Phoenix .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Phoenix, AZ?
Because the average rent in Phoenix is $1,322, you’ll want to make about $4,406 per month or $52,872 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Phoenix, AZ compare to other nearby cities and neighborhoods?
Use the tool below to compare Phoenix, AZ to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$907/month
$1,590/month
One Bedroom
$1,095/month
$1,797/month
Two Bedroom
$1,328/month
$2,725/month
Three Bedroom
$1,731/month
$4,016/month
Nearby City Rent Trends
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Methodology
† 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.
* Percentages may not total 100 due to rounding.