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Urban renaissance defines Downtown Phoenix, where historic buildings and new construction create a dynamic mix in Arizona's growing urban core. Rental options include industrial-chic lofts and luxury high-rises with resort-style amenities targeting urban professionals. The neighborhood offers exceptional walkability to sports venues, restaurants, and the developing Roosevelt Row arts district, though summer heat creates challenging conditions for pedestrians during daylight hours when temperatures regularly exceed 110 degrees.
Historic charm thrives under citrus groves near Camelback Mountain, offering renters walkable access to Biltmore Fashion Park's upscale shops. Converted 1950s ranch homes feature original terrazzo floors but lack modern insulation. Summer AC bills spike due to 110°F heatwaves, while monsoon floods test drainage systems.
Navigate apartment hunting and city life like a local with our curated articles about Phoenix, Arizona.
Welcome to the Apartment List February 2026 Rent Report for Phoenix, AZ. Currently, the overall median rent in the city stands at $1,248, after falling 0.7% last month. Prices are now down 4.7% year-over-year. Read on to learn more about what’s been happening in the Phoenix rental market and how it compares to trends throughout the broader Phoenix metro area and the nation as a whole.
National study of renter’s satisfaction with their cities and states
Apartment List has released Phoenix’s results from the third annual Apartment List Renter Satisfaction Survey. This survey, which drew on responses from over 45,000 renters nationwide, provides insight on what states and cities must do to meet the needs of the country’s 111 million renters.
"Phoenix renters expressed general satisfaction with the city overall," according to Apartment List. "However, there seems to be a discrepancy between millennial renters in Phoenix, who are unsatisfied (D), and renters who are parents (B-)."
Key Findings in Phoenix include the following:
Renters say:
For more information on the survey methodology and findings or to speak to one of our researchers, please contact our team at rentonomics@apartmentlist.com.
Entertainment central thrives near Desert Ridge Marketplace's 100+ stores. Renters enjoy resort-style pools but face 2AM noise from Topgolf's weekend parties. Mandatory valet parking adds $200+/month.
