News Summary
The Phoenix metro area is witnessing notable changes in apartment rental trends, with variations in living space available for a rent budget of $1,500. Cities like Mesa and Tempe provide less space, while Scottsdale offers the smallest average size. The housing market is also experiencing mixed trends with falling home values but rising inventory. Despite job losses, Phoenix’s strong job market continues to attract new residents, leading to a construction boom in housing options.
Phoenix
The Phoenix metro area is experiencing notable variations in apartment rental trends as of 2025, with a rent budget of $1,500 equating to significant differences in living space. Renters can expect a variance of up to 180 square feet depending on the city they choose within the metro area.
Among the smaller cities surrounding Phoenix, residents typically find more spacious options; however, Mesa and Tempe stand out by offering less space than other cities in the area. Notably, Scottsdale has been identified as the only city within the Phoenix metro region that provides an average of less than 900 square feet for a $1,500 budget, a figure that highlights its high rent in comparison to room size.
Across the United States, cities in the Midwest and the Sunbelt generally offer more apartment space for a comparable rent of $1,500. However, in Arizona, average rent currently sits at $1,587 with an average apartment size of 859 square feet. Mesa leads the Phoenix metro area with the most affordable average rent, while Scottsdale is noted for its higher pricing.
Current Trends in the Phoenix Housing Market
In June 2025, the average home value in the Phoenix-Mesa-Scottsdale area fell to approximately $456,017, marking a 3.2% decline over the year. The local housing market is witnessing mixed trends, with slight decreases in list prices, rising inventory, and properties taking longer to sell.
Current active listings in Phoenix reached 25,245, providing more choices for homebuyers. Despite this increased inventory, there were 8,351 new listings in June 2025, which showed a decrease of 16.65% from the month prior. On average, homes are spending about 79 days on the market, with a median of 57 days before an offer is made.
The sales market has also seen shifts, with homes under contract decreasing to 7,183, down 7.78% from the previous month. The average sales price has dropped by 1.19%, while the median sales price saw a 0.67% decrease, with new listing prices averaging $614,917 and a median price of $469,000.
Influencing Factors
One of the significant factors affecting housing affordability is the current interest rates, which have decreased buyer demand in the area. Despite a reported loss of 7,500 jobs over the past year, experts believe this figure is statistically insignificant due to Phoenix’s vibrant job market and low unemployment rates that continue to draw new residents.
Phoenix has seen a population surge of 11.2% from 2010 to 2020, with estimates suggesting it will exceed 4.7 million by 2024. Amid this population growth, the demand for housing has led to a construction boom, with more than 20,000 apartment units completed last year and projections rising to 28,000 in 2025.
Rent prices in Phoenix have also undergone changes, indicating a decrease of 3%, with current average unit pricing resting around the $1,500 mark. This evolving real estate landscape illustrates the dynamic interactions between supply, demand, and external economic influences within the Phoenix metro region.
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Additional Resources
- AZ Big Media: Apartment Space for $1,500
- Wikipedia: Phoenix, Arizona
- Norada Real Estate: Phoenix Real Estate Market
- Google Search: Phoenix real estate 2025
- AZ Central: Metro Phoenix Rents
- Google Scholar: Phoenix housing market
- KTAR: Millionaire Renters in Phoenix
- Encyclopedia Britannica: Phoenix real estate
- AZ Family: Phoenix Area Rent Prices
- Google News: Phoenix rent prices
Author: STAFF HERE PHOENIX WRITER
PHOENIX STAFF WRITER The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.
