How many apartments are available in 85040 on Rentable.co?

Rentable.co has 33 apartments available for rent in 85040.

What is the average rent for an apartment in 85040?

The average rent for an apartment in 85040 is around $1,450 per month.

What is the average rent for a two-bedroom apartment in 85040?

The average rent for a two-bedroom apartment in 85040 is around $1,350 per month.

What is the average rent for a one-bedroom apartment in 85040?

The average rent for a one-bedroom apartment in 85040 is around $1,145 per month.

What is the average rent for a studio apartment in 85040?

The average rent for a studio apartment in 85040 is around $1,077 per month.

Apartments in 85040

Phoenix:
November Rent Report

Welcome to the November 2024 Phoenix Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the November 2024 key findings and figures for the Phoenix rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Phoenix and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Phoenix average rent prices in the chart below.

Monthly Rent Report

$1,700

$1,280

$850

$430

Dec. 2023

Jan. 2024

Feb. 2024

Mar. 2024

Apr. 2024

May. 2024

Jun. 2024

Jul. 2024

Aug. 2024

Sep. 2024

Oct. 2024

Nov. 2024

1 BR 2 BR

Phoenix Rent Prices Decrease From October to November

Phoenix rent prices decreased over the last month. From October to November, the city experienced a -0.3% decrease for the price of a one-bedroom apartment. The rent price for a Phoenix one-bedroom apartments currently stands at $1,347.0.

When we take a look at the two-bedroom comparison from October to November, Phoenix experienced a -0.62% decrease for the price of a two-bedroom apartment. The rent price for a Phoenix two-bedroom apartments currently stands at $1,596.0.

November Prices: Phoenix vs. Surrounding Areas

Scottsdale, AZ

Gilbert, AZ

Chandler, AZ

Peoria, AZ

Tempe, AZ

Mesa, AZ

Phoenix, AZ

Glendale, AZ

$1,905

$1,655

$1,643

$1,538

$1,500

$1,459

$1,351

$1,306

$650

$1,300

$1,950

$2,600

Median 1 BR Rent

Rent Prices in Phoenix and Surrounding Areas

Rent prices have decreased in Phoenix over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 2 of the Phoenix suburbs increased last month. On the other hand, 5 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

Rent increased in Glendale, AZ, Peoria, AZ .
Rent decreased in Mesa, AZ, Scottsdale, AZ, Tempe, AZ, Chandler, AZ, Gilbert, AZ.
6 suburbs are currently priced higher than the city of Phoenix.
1 suburb is currently priced lower than the city of Phoenix.

November 2024 Pricing Trends: Phoenix vs. National Comparisons

New York, NY

San Francisco, CA

Los Angeles, CA

Washington, DC

Chicago, IL

Phoenix, AZ

Columbus, OH

Minneapolis, MN

Pittsburgh, PA

$4,211

$3,115

$2,373

$2,354

$1,903

$1,351

$1,338

$1,246

$1,202

$1,400

$2,800

$4,200

$5,600

Median Rent

Phoenix Rent Prices More Affordable Than Major Cities

Rent growth in Phoenix over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Phoenix average rent prices appear to be relatively affordable for local residents.

The price for a Phoenix one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Phoenix and surrounding area rent prices, take a look at the complete data set below.

Data set for Phoenix and suburbs

	1 BR November	1 BR M/M % Change	2 BR November	2 BR M/M % Change
Phoenix, AZ	$1,351.0	1.27%	$1,606.0	0.19%
Mesa, AZ	$1,459.0	-0.14%	$1,743.0	-0.74%
Scottsdale, AZ	$1,905.0	-0.37%	$2,239.0	-2.06%
Tempe, AZ	$1,500.0	-1.51%	$1,825.0	-2.04%
Chandler, AZ	$1,643.0	-0.06%	$1,820.0	-1.78%
Glendale, AZ	$1,306.0	0.54%	$1,624.0	0.93%
Gilbert, AZ	$1,655.0	-2.25%	$2,061.0	-0.53%
Peoria, AZ	$1,538.0	0.19%	$1,814.0	1.23%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.