Six months into the year, average rental prices in Downtown Phoenix are down just slightly at 1.1%. Due to high demand with young employees in the area, 1 Bedroom apartment prices are up over 12% in the past month. The Downtown area continues to experience a construction boom of luxury apartment units hitting the market which is leading to higher than normal vacancies. Renters should expect to see prices declining between 2% and 4% over the next year. The median rental price in Downtown Phoenix is $1,978 which leads the state and is 2% higher than the national median.

Chandler

With strong demand in the first 6 months of 2024, Chandler rent is up 1% year over year and .6 in the past month. Numerous modern, high rise apartment communities have opened in Downtown Chandler this year leading to 11% higher rental rates in this area. Chandler has a median apartment rent of $1,674 which is 15.4% higher than the metro Phoenix median.

Apartment Options

Downtown Phoenix

Circa Central Ave

• Studio/1ba
• Sq Ft: 530
• Rent: $1,434

Sky on 6th

• 1bed/1ba
• Sq Ft: 704
• Rent: $1,919

The Battery

• 2bed/2ba
• Sq Ft: 900
• Rent: $2,183

Joy on 4th

• 3bed/3ba
• Sq Ft: 1,078
• Rent: $3,272

Chandler

Encore Nova

• Studio/1ba
• Sq Ft: 629
• Rent: $1,472

Town Chandler

• 1br/1ba
• Sq Ft: 668
• Rent: $1,720

Morrison Chandler

• 2br/2ba
• Sq Ft: 1,144
• Rent: $2,009

The Plaza Taos

• 3br/3ba
• Sq Ft: 1,381
• Rent: $2,361