Rental activity and trends for the Phoenix Metro area as reported by Zillow Research – January 2025

While most metros are seeing rent growth, landlords are increasingly offering concessions to attract renters, with more than 41% of Zillow rental listings featuring incentives in January — a record high in Zillow data.

Typical Rent:  $1,794  (.08% increase year over year)

Single Family: $2,276 (2.4% increase year over year)

Multifamily: $1,539 (-0.5% change year over year)

Observed Rent Index – Phoenix

Single Family vs. Multifamily – Phoenix

Observed Rent Index – United States