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Average Rent in Phoenix & Rent Price Trends

May 4, 2022

Considering moving to Phoenix? Before you start apartment hunting, learn about the local rental market. Make sure you know the average rent in Phoenix to get your budget started!

Average Rent in Phoenix

Note: The data provided reflects our available units on Apartment List. For data that reflects the entire market, we recommend you visit our Rent Report, which is created based on our holistic methodology. You can also download the raw data containing rent estimates for hundreds of cities across the country.

Phoenix rents have increased by 0.68% compared to last month, and are up by 23.32% compared to last year.

  • 1% of apartments in Phoenix cost less than $1,000 per month.
  • 63% of apartments in Phoenix cost between $1,000-$1,999 per month.
  • 30% of apartments in Phoenix cost between $2,000-$2,999 per month.
  • 5% of apartments in Phoenix cost over $3,000 per month.

  • 7% of apartments in Phoenix are studio apartments.
  • 41% of apartments in Phoenix are 1-bedroom apartments.
  • 34% of apartments in Phoenix are 2-bedroom apartments.
  • 19% of apartments in Phoenix are 3-bedroom apartments.

What Salary Do You Need to Live in Phoenix?

Using the 30% rule, we can give a rough estimate of the salary needed to rent an apartment in Phoenix. If these numbers look high, remember that a roommate or two can drastically cut down your monthly rent!

  • If you are renting an average priced studio apartment in Phoenix, your annual salary should be around $55,040 or higher.
  • If you are renting an average priced 1-bedroom apartment in Phoenix, your annual salary should be around $66,560 or higher.
  • If you are renting an average priced 2-bedroom apartment in Phoenix, your annual salary should be around $83,440 or higher.
  • If you are renting an average priced 3-bedroom apartment in Phoenix, your annual salary should be around $103,280 or higher.

If you're considering renting in Phoenix, be sure to learn more about the cost of living in Phoenix. If you're not sure where to live, check out the best neighborhoods in Phoenix.

Having trouble deciding how much rent you can afford? Try using a rent calculator.

Ready to make the move to Phoenix? Start apartment hunting in Phoenix with our quiz!

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AUTHOR
Kimi is a Content Associate and contributing author at Apartment List, helping renters find a new place to call home. Kimi earned her BA in Organizational Studies, Economics from Scripps College. Read More
SENIOR RESEARCH ASSOCIATE
Rob is a senior research associate at Apartment List, where he examines trends in the housing and rental markets. Previously he worked in public health policy, and before that, graduated from UCLA with a degree in Globalization. Read More
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