Tempe, AZ Rental Market Trends
Last updated: February 18, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Tempe is $1,800, a 2.33% decrease compared to the previous year, when the average rent was $1,843.
Studio Apartments at $1,311 offer the most budget-friendly option with 478 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 699 square feet for $1,455, balancing privacy and affordability.
Two-beedroom units at $1,790 offer 987 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,254 sq ft) for $2,504, suitable for larger households.
Average rent in Tempe, AZ
Last updated: February 18, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,800 | 877 sq. ft. |
| Studio | $1,311 | 478 sq. ft. |
| 1 Bed | $1,455 | 699 sq. ft. |
| 2 Beds | $1,790 | 987 sq. ft. |
| 3 Beds | $2,504 | 1,254 sq. ft. |
Tempe, AZ rent trends
Rental prices in Tempe, AZ have decreased by 2.33% over the past year. The average rent moved from $1,843 to $1,800.
What's the typical rent budget in Tempe, AZ?
The largest share of rentals in Tempe, AZ (39%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Tempe, AZ?
45,023 or 58% of the households in Tempe, AZ are renter-occupied while 32,030 or 42% are owner-occupied.
Most affordable neighborhoods in Tempe?
Wood Park $1,409/month
Tempe Gardens $1,488/month
Shalimar $1,506/month
All of these neighborhoods fall below the city wide average of $1,800/month.Most expensive neighborhoods in Tempe?
Peterson Park $1,630/month
Rio $1,681/month
Hughes Acres $2,017/month
These neighborhoods typically command higher rents due to location, amenities, and demand.Average Rent in Tempe, AZ By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Hughes Acres | $2,017 |
| Rio | $1,681 |
| Peterson Park | $1,630 |
| Pepperwood | $1,624 |
| Optimist Park | $1,562 |
| Shalimar | $1,506 |
| Tempe Gardens | $1,488 |
| Wood Park | $1,409 |
/
Tempe | Rent Comparison by Neighborhood
Rent in Hughes Acres is 29% higher than in Optimist Park
$2,017
Hughes Acres rent is 12% higher than Tempe average
Average Rent
$2,017
$1,562
Optimist Park rent is 13% lower than Tempe average
Average Rent
$1,562
How Tempe Compares to Other Cities
| City | Average Rent |
|---|---|
| Tempe | $1,800 |
| Phoenix | $1,474 |
| Tucson | $1,216 |
| Mesa | $1,469 |
| Glendale | $1,384 |
| Scottsdale | $2,073 |
| Chandler | $1,690 |
| Surprise | $1,716 |
| Peoria | $1,595 |
| San Tan Valley | $1,912 |
| Gilbert | $1,759 |
| Buckeye | $1,800 |
| Goodyear | $1,634 |
| Avondale | $1,565 |
| Laveen | $1,861 |
| Queen Creek | $1,905 |
| Waddell | $2,378 |
| Casa Grande, AZ | $1,463 |
| Apache Junction, AZ | $1,588 |
| Maricopa, AZ | $1,657 |
| Florence, AZ | $1,197 |
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Tempe apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.