Phoenix city, Arizona Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Phoenix city, Arizona rental market.
Phoenix city, Arizona
Average Apartment Rent
Y-o-Y Change in Apartment Rent
Compared to a year ago, Phoenix city, Arizona apartments have recorded a 9.61% rent increase.
Phoenix city, Arizona |Median apartment rent trend
Phoenix city, Arizona| Average apartment rent by city
Phoenix city, Arizona | Apartment rent ranges
At 48.86%, apartments priced $1,000 - $1,500 represent the bulk of Phoenix city, Arizona rentals, while condos priced under $500 hold the lowest share of the market – 0.01%.
Phoenix city, Arizona | Housing tenure
Renters take up 46% of Phoenix city, Arizona real estate, occupying a total of 256,636 units, while homeowners live in 298,377 properties.
Median number of rooms of renter-occupied housing units
Renter Median household income
Average household size of renter occupied-housing units
Rental vacancy rate
Phoenix city, Arizona | Renter-occupied housing units by no. of bedrooms
There are 91,523 rentals in Phoenix city, Arizona with 2 beds making up the highest share of the market, at 36%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 3,327 units. Overall, the median number of rooms in Phoenix city, Arizona homes for rent is 4.1.
Phoenix city, Arizona |Renter-occupied units by age of householder
Most condos for rent in Phoenix city, Arizona are occupied by residents in the 25 - 34 years age group (28%), followed by those in the 35 - 44 years age group (23%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.
Phoenix city, Arizona | Renter-occupied housing units by family type
Phoenix city, Arizona | Renter-occupied housing units by the presence of own children
A total of 141,449 apartments for rent in Phoenix city, Arizona, or 55% of all rentals are family households. Additionally, 38% of rental homes include children under the age of 18 – that’s 98,377 units. All in all, the median size of a renter-occupied household in Phoenix city, Arizona is 2.8.
Phoenix city, Arizona | Renter-occupied housing units by educational attainment
In terms of education, renters holding bachelor degrees or higher make up 22% of the rental market. In contrast, residents with less than a high school degree reside in 19% of the homes for rent in Phoenix city, Arizona.
Phoenix city, Arizona | Renter-occupied units by year structure built
The highest share of Phoenix city, Arizona apartment rentals, namely 19% or 48,291 units, were built 1970 - 1979, followed by those built 1980 - 1989 (18%, 46,465 units), and the ones built 1990 - 1999 (18%, 44,944 units).
Phoenix city, Arizona | Renter-occupied units by year householder moved in
Median year renter moved into unit2014
Most Phoenix city, Arizona renters (51%) moved in 2010 to 2014, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Phoenix city, Arizona condos for rent is 2014.
Phoenix city, Arizona | Renter-occupied housing units by vehicles available
When it comes to transportation options, 47% of Phoenix city, Arizona renters have 1 vehicle available per household, 29% of them have 2 vehicles available, and 15% have no vehicle available.
Phoenix city, Arizona | Means of transportation to work of householders living in renter-occupied housing units
Phoenix city, Arizona |Geographical mobility in the past year for householders living in renter-occupies housing units
Phoenix city, Arizona | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Phoenix city, Arizona apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
Average single family rent calculated from point2homes.com data.
Exceptions: Data sourced from U.S. Census Bureau; American Community Survey, 2018 American Community Survey 5-Year Estimates