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

“Over the past year, the rental market has moved firmly in favor of renters.“

“Deals remain common: Nearly two in every five listings included a concession, illustrating the bargaining power that renters have in today’s market.”

Typical Rent:  $1,745 (-0.6% change year over year)

Single Family: $2,241 (1.0% increase year over year)

Multifamily: $1,503 (-2.1% change year over year)

Observed Rent Index – Phoenix

Single Family vs. Multifamily – Phoenix

Observed Rent Index – United States