187 Furnished Apartments for rent in Tempe, AZ

Last updated September 23 at 5:43PM
Ravenwood Heights
647 W Baseline Rd
Tempe, AZ
Updated September 23 at 5:43PM
2 Bedrooms
$1,375
3 Bedrooms
$1,415
1971 E SUNBURST Lane
Tempe
Tempe, AZ
Updated August 15 at 3:52AM
3 Bedrooms
$3,000
312 S WILSON Street
Riverside
Tempe, AZ
Updated September 21 at 10:21AM
2 Bedrooms
$1,300
1911 E Velvet Drive
Tempe Royal Palms
Tempe, AZ
Updated August 14 at 9:53AM
3 Bedrooms
$3,500
200 E SOUTHERN AVE #225
MACH 8
Tempe, AZ
Updated September 23 at 11:05AM
2 Bedrooms
$1,200
1613 E VAUGHN Street
Tempe
Tempe, AZ
Updated September 16 at 9:38AM
2 Bedrooms
$2,800
Results within 1 miles of Tempe, AZ
2044 S DON CARLOS --
Dobson Ranch
Mesa, AZ
Updated September 20 at 10:04AM
2 Bedrooms
$1,200
1211 N MILLER Road
Scottsdale
Scottsdale, AZ
Updated August 29 at 2:23AM
2 Bedrooms
$3,800
13029 S 46th Way
Ahwatukee
Phoenix, AZ
Updated September 1 at 9:19AM
2 Bedrooms
$1,500
8642 S 51ST Street
Phoenix
Phoenix, AZ
Updated September 21 at 10:46AM
2 Bedrooms
$3,500
3911 S SHANNON Drive
Tempe Palms
Tempe, AZ
Updated September 21 at 11:45AM
4 Bedrooms
$4,500
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Rent Report
Tempe

September 2017 Tempe Rent Report

Welcome to the September 2017 Tempe Rent Report. In this report, we'll evaluate trends in the Tempe rental market, including comparisons to cities throughout the metro and nation.

Tempe rents increased marginally over the past month

Tempe rents have increased 0.1% over the past month, and are up significantly by 5.6% in comparison to the same time last year. Currently, median rents in Tempe stand at $910 for a one-bedroom apartment and $1,130 for a two-bedroom. The city's rents have been increasing for 17 straight months - the last time rents declined was in March of last year. Tempe's year-over-year rent growth leads the state average of 4.7%, as well as the national average of 3.0%.

Rents rising across the Phoenix Metro

Throughout the past year, rent increases have been occurring not just in the city of Tempe, but across the entire metro. Of the largest 10 cities that we have data for in the Phoenix metro, all of them have seen prices rise. Here's a look at how rents compare across some of the largest cities in the metro.

  • Mesa has seen the fastest rent growth in the metro, with a year-over-year increase of 6.3%. The median two-bedroom there costs $1,050, while one-bedrooms go for $840.
  • Over the past month, Avondale has seen the biggest rent drop in the metro, with a decline of 0.5%. Median two-bedrooms there cost $1,200, while one-bedrooms go for $970.
  • Phoenix proper has the least expensive rents in the Phoenix metro, with a two-bedroom median of $1,020; rents were up 0.2% over the past month and 4.9% over the past year.
  • Gilbert has the most expensive rents of the largest cities in the Phoenix metro, with a two-bedroom median of $1,370; rents increased 0.6% over the past month and 4.1% over the past year.

Tempe rents more affordable than many large cities nationwide

As rents have increased in Tempe, a few large cities nationwide have seen also rents grow more modestly. Tempe is still more affordable than most large cities across the country.

  • Rents also increased in other cities across the state, with Arizona as a whole logging rent growth of 4.7% over the past year.
  • Tempe's median two-bedroom rent of $1,130 is slightly below the national average of $1,160. Nationwide, rents have grown by 3.0% over the past year compared to the 5.6% rise in Tempe.
  • While Tempe's rents rose over the past year, many cities nationwide also saw increases, including Seattle (+5.4%), Las Vegas (+5.2%), and Los Angeles (+5.0%).
  • Renters will find more reasonable prices in Tempe than most large cities. For example, San Francisco has a median 2BR rent of $3,070, which is more than two-and-a-half times the price in Tempe.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
City Median 1BR price Median 2BR price M/M price change Y/Y price change
Phoenix $820 $1,020 0.2% 4.9%
Mesa $840 $1,050 0.4% 6.3%
Chandler $1,040 $1,300 1.3% 5.8%
Glendale $870 $1,090 0.1% 5.2%
Scottsdale $1,020 $1,270 0.5% 4.0%
Gilbert $1,100 $1,370 0.6% 4.1%
Tempe $910 $1,130 0.1% 5.6%
Peoria $1,080 $1,340 -0.2% 4.8%
Surprise $1,070 $1,330 -0.0% 3.5%
Avondale $970 $1,200 -0.5% 2.8%
See more

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.