Phoenix market rental trends report

Over the past 3–6 months, rent prices in the Phoenix rental market have shown a modest softening or plateauing trend, with some segments experiencing slight decreases or flat pricing after prior rapid increases. Data indicates rents across many unit types have drifted downward or stabilized compared with earlier in the year. This shift has been driven largely by a surge in new multifamily housing supply across the metro area and cooling renter demand, giving tenants more options and prompting landlords to adopt concessions to fill vacancies. Currently, the median rent in the Phoenix region sits around $1,458 per month.

Chandler

Over the past 3–6 months, rental prices in Chandler have been relatively stable with little month-to-month movement after experiencing slight declines compared with last year’s levels, showing a softer or flat trend rather than sharp increases. This modest shift reflects cooling after earlier rapid growth and aligns with a slight downward pressure in average rents reported by multiple real estate data sources. The change is largely being driven by an expanding rental inventory, slower demand growth, and broader market normalization as more multifamily units come online, giving renters more choices and easing upward pressure on pricing. Currently, the median rent for all property types in Chandler sits around $1,620 per month.

Apartment listings

Below are some recent listing examples.

Bask Deer Valley

• Studio/1 Bath
• 579 Sq. Ft.
• $1,214

Spire Deer Valley 

• 1 Bed/1 Bath
• 647 Sq. Ft.
• $1,380

San Norterra

• 2 Beds/2 Baths
• 1,168 Sq. Ft.
• $1,556

Aerie Happy Valley

• 3 Beds/2 Baths
• 1,391 Sq. Ft.
• $2,100

(Data sourced from Apartments.com)