Tempe, AZ is a vibrant and diverse city located in the East Valley region of the Greater Phoenix metropolitan area. It is known for its excellent schools, vibrant culture, and ample rental opportunities. The rental market in Tempe is thriving, with an abundance of apartments and homes available to meet the needs of both students and professionals alike.
The city’s top-rated schools are highly sought after, making Tempe a great place to rent for families looking for the best education for their children. The Tempe Union High School District includes four of the top high schools in the state, including Corona del Sol High School, Desert Vista High School, Mountain Pointe High School, and Tempe High School. The Kyrene School District, which serves the southwestern portion of Tempe, is also highly regarded and features several top-rated elementary and middle schools.
When it comes to finding the perfect rental in Tempe, there are plenty of neighborhoods to choose from. The city’s downtown area offers an array of apartments and condos with easy access to the city’s major employers, while the historic neighborhoods of Old Town and Big Surf provide a laid-back lifestyle with plenty of restaurants and shops. Mill Avenue and the neighborhoods surrounding Arizona State
The average rental prices of an apartment, townhouse, condo, loft, and single family home in Tempe, AZ are as follows:
Apartments: $1,467/month
Townhouses: $1,744/month
Condos: $1,401/month
Lofts: $1,817/month
Single Family Homes: $1,853/month
Rental prices in Tempe, AZ have increased steadily over the last 5 years. According to Zillow, the median rent price in Tempe was $1,200 in 2015 and has increased to $1,467 in 2020, a 22.25% increase. Rent prices in Tempe have seen a steady upwards trend over the past five years which is indicative of a healthy rental market.
The median rental price for 1-bedroom, 2-bedroom, and 3-bedroom apartments in Tempe, AZ are $1,200, $1,550, and $2,010, respectively.
Tempe, AZ is part of the Tempe Elementary School District, which is consistently ranked among the top school districts in the country. The district has consistently earned the highest rankings from U.S. News & World Report, earning an overall grade of A+ in 2019. In comparison to the rest of the United States, Tempe's schools are above average, with a lower student dropout rate and higher test scores. The district also boasts a diverse student body, as over half of its students come from minority backgrounds.
1. Downtown Tempe
2. College Park
3. Kyrene
4. South Tempe
5. Warner Ranch
1. North Tempe
2. Warner Ranch
3. Warner Estates
4. The Lakes
5. Broadmor