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

“Nationally, the median household income is estimated to have increased 4% from last year, while the typical asking rent increased just 2.3%.“

“While affordability has made strides this year, affordability remains a greater challenge for renters today than before the pandemic.”

Typical Rent:  $1,763 (-0.7% change year over year)

Single Family: $2,266 (1.1% increase year over year)

Multifamily: $1,519 (-2.2% change year over year)

Observed Rent Index – Phoenix

Single Family vs. Multifamily – Phoenix

Observed Rent Index – United States