Phoenix Rent Report: May 2026

Welcome to the Apartment List May 2026 Rent Report for Phoenix, AZ. Currently, the overall median rent in the city stands at $1,250, roughly the same as last month. Prices remain down 5.9% 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.

The median rent in Phoenix rose by 0.3% over the course of April, and has now decreased by a total of 5.9% over the past 12 months. Phoenix’s rent growth over the past year has has fallen behind both the state (-4.3%) and national averages (-1.7%).

Four months into the year, rents in Phoenix have fallen 0.0%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to April 2025 rents had increased 1.5%.

Phoenix rents went up 0.3% in the past month, compared to the national rate of 0.4%. Among the nation's 100 largest cities, this ranks #64. Similar monthly rent growth took place in Fort Worth, TX (0.3%) and Plano, TX (0.3%).

Citywide, the median rent currently stands at $1,071 for a 1-bedroom apartment and $1,277 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,250. That ranks #72 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,204 for a 1-bedroom, $1,356 for a 2-bedroom, and $1,370 overall. The median rent in Phoenix is 8.8% lower than the national, and is similar to the prices you would find in Houston, TX ($1,255) and Arlington, TX ($1,247).

If we expand our view to the wider Phoenix metro area, the median rent is $1,348 meaning that the median price in Phoenix proper ($1,250) is 7.3% lower than the price across the metro as a whole. Metro-wide annual rent growth stands at -4.4%, above the rate of rent growth within just the city.

The table below shows the latest rent stats for 12 cities in the Phoenix metro area that are included in our database. Among them, Scottsdale is currently the most expensive, with a median rent of $1,713. Glendale is the metro’s most affordable city, with a median rent of $1,208. The metro's fastest annual rent growth is occurring in Peoria (-1.3%) while the slowest is in Phoenix (-5.9%).

Apartment List is committed to the accuracy and transparency of our rent estimates. We begin 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, capturing apartment transactions over time 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. For more details, please see the Apartment List Rent Estimate Methodology.

Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.