Last updated
Average Rent in Tempe, AZ & Rent Trends
Rent prices and market trends across 20 apartment communities in Tempe, AZ. Updated daily.
Market Average
$2,120/mo
▼ 10.2% from last month
Lowest Available
$1,096/mo
cheapest unit on market
Communities
20
tracked daily
Units Listed
199
available now
Price Cuts This Week in Tempe, AZ
47 listed units across 12 buildings in Tempe, AZ dropped their asking rent in the past 7 days, an average cut of $73/mo. These are the largest cuts, tracked unit by unit with daily price checks.
| Apartment | Unit | Last Week | Now | Cut |
|---|---|---|---|---|
| Parq on 5th Apartments | Unit 4 | $1,469 | $1,019 | $450 |
| Vero | Unit 4025, A2 | $2,088 | $1,788 | $300 |
| Vela at Tempe Town Lake | Unit 4062, B1 | $2,614 | $2,392 | $222 |
| Vela at Tempe Town Lake | Unit 2024, B1 | $2,574 | $2,355 | $219 |
| Vero | Unit 2011, A1 | $1,906 | $1,706 | $200 |
| Vero | Unit 3016, A2 | $1,974 | $1,774 | $200 |
| Vero | Unit 7007, A1 | $1,867 | $1,667 | $200 |
| Trovita Rio | Unit 1, 1x1 B2 | $1,773 | $1,658 | $115 |
Rent by Neighborhood in Tempe, AZ
Compare average rent across Tempe, AZ neighborhoods. Click any area to see detailed trends.
| Neighborhood | Avg Rent | From | Properties | Units |
|---|---|---|---|---|
| Brentwood-Cavalier | $2,131 | $1,552 | 3 | 29 |
| Tempe 85281 | $2,118 | $1,096 | 17 | 170 |
Is Rent Going Up or Down in Tempe, AZ?
As of July 2026, the average rent in Tempe, AZ is $2,120 per month across 20 apartment communities and 199 available units. Rents have decreased $214 (10.2%) over the past month.
The most affordable option is Parq on 5th Apartments starting at $1,096/mo. By unit type, a studio averages $2,050/mo, a 1-bedroom averages $1,876/mo, a 2-bedroom averages $2,295/mo, a 3-bedroom averages $2,884/mo, a 4-bedroom averages $1,272/mo.
Prices range from $1,096 to $15,000 per month. The most common price point is the $1,600 range, where 44 units are currently listed.
Tempe, AZ Rent Price History
Average Rent by Bedroom
Rent Price Distribution
Rent by Bedroom Type in Tempe, AZ
Rent Prices by Apartment in Tempe, AZ
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| Parq on 5th Apartments | $1,096/mo | $1,350/mo | 13 | 3.6 |
| VERVE Tempe | $1,124/mo | $1,308/mo | 6 | 5 |
| Encore On Farmer Apartments | $1,168/mo | $1,168/mo | 1 | 4.2 |
| Emerson Mill Avenue | $1,369/mo | $1,369/mo | 1 | 4.5 |
| Norte Town Lake Apartments | $1,455/mo | $2,202/mo | 12 | 4.6 |
| Trovita Rio | $1,475/mo | $1,963/mo | 16 | 4.2 |
| Residences on Farmer | $1,499/mo | $1,876/mo | 6 | 3.1 |
Google Search Trends for Tempe, AZ Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Frequently Asked Questions About Rent in Tempe, AZ
What is the average rent in Tempe, AZ?
Is rent going up or down in Tempe, AZ?
What is the cheapest apartment in Tempe, AZ?
How much is a 1-bedroom apartment in Tempe, AZ?
How many apartments are available in Tempe, AZ?
What salary do I need to live comfortably in Tempe, AZ?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$85,000/year
Based on the 30 percent rule, using our tracked average rent of $2,120/mo.
Comfortable income
$102,000/year
Based on the 25 percent rule, leaving more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($1,096/mo), you need to earn at least $44,000/year.
Median household income in Tempe, AZ is $77,643 , about 24% below the comfortable-living threshold.
Cost of living in Tempe, AZ
Overall prices in Tempe, AZ runs above the national average by about 5% (BEA Regional Price Parity index 104.7, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Tempe, AZ's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $2,120 |
| Utilities | $534 |
| Groceries | $531 |
| Transportation | $1,274 |
| Healthcare | $621 |
| Other goods and services | $994 |
| Estimated total | $6,076/mo |
Population
186,419
Median household income
$77,643
Census median rent
$1,623/mo
Rent as % of income
30.9%
Median age
29.9
Mean commute
21 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Explore Tempe, AZ Apartments
Browse all 20 communities with daily-updated pricing and availability.