Average Rent in Phoenix 2026
The average rent in Phoenix, AZ is $1,300 for a 1-bedroom, $1,600 for a 2-bedroom, and $2,000 for a 3-bedroom apartment in 2026. The cost of living in Phoenix is 3% above the national average. To afford a 1-bedroom apartment here using the 30% rule, you need an annual income of at least $52,000.
Phoenix Rent Prices by Bedroom
1 Bedroom
$1,300
per month
2 Bedrooms
$1,600
per month
3 Bedrooms
$2,000
per month
Cost of Living in Phoenix
103
Cost of Living Index (100 = national average)
Phoenix's cost of living index is 103, which is 3% above the national average. This index factors in housing, groceries, transportation, healthcare, and utilities. A higher number means you need more income to maintain the same standard of living compared to the national average.
Phoenix at a Glance
Population
1.6M
Median Income
$60,931
COL Index
103
Rent Control
No
How Much Income Do You Need to Rent in Phoenix?
The widely accepted guideline is to spend no more than 30% of your gross income on rent. Here is the minimum annual income you need to afford an apartment in Phoenix by bedroom count:
1-Bedroom
$1,300/mo rent
$52,000/yr
2-Bedroom
$1,600/mo rent
$64,000/yr
3-Bedroom
$2,000/mo rent
$80,000/yr
Based on the 30% rule: monthly rent should not exceed 30% of gross monthly income.
How Much You Save with a Roommate in Phoenix
Save $500/month
by splitting a 2-bedroom with a roommate
Solo 1BR
$1,300
per month
Split 2BR
$800
per person/month
Annual Savings
$6,000
per year
Instead of paying $1,300 for a 1-bedroom on your own, splitting a 2-bedroom ($1,600) with one roommate brings your share to $800. That is $6,000 per year you could put toward savings, investments, or paying down debt.
Rent Control in Phoenix
Phoenix, AZ does not currently have rent control or rent stabilization laws. Landlords can raise rent by any amount at lease renewal, though they are typically required to provide advance notice (usually 30-60 days). If you are concerned about rent increases, consider negotiating a longer lease term for price stability.
Rent Calculators for Phoenix Renters
Use these free calculators to plan your Phoenix rental budget, split rent with roommates, and check if you qualify for an apartment.
Rent Affordability Calculator
Find out how much rent you can afford based on your income.
Fair Rent Split Calculator
Split rent fairly by room size, features, and income.
Rent-to-Income Calculator
Check if you meet the 3x rent rule landlords require.
Renter Budget Calculator
Build a 50/30/20 budget around your rent payment.
Frequently Asked Questions About Renting in Phoenix
Is Phoenix expensive to rent in?
Phoenix is near the national average for rental costs. A 1-bedroom averages $1,300 per month in 2026. Rent has risen significantly since 2020 due to rapid population growth, but Phoenix remains more affordable than most West Coast cities.
How much income do you need to rent in Phoenix?
Using the 30% rule, you need about $4,333 per month ($52,000 annually) to comfortably afford a $1,300/month 1-bedroom apartment in Phoenix.
How much can you save by splitting rent with a roommate in Phoenix?
Splitting a 2-bedroom ($1,600/month) with one roommate brings your share to $800, saving $500 per month or $6,000 per year versus renting a 1-bedroom alone.
Planning to rent in Phoenix?