Department of Numbers

Arizona Residential Rent and Rental Statistics

The median monthly gross residential rent in Arizona was $976 in 2016 according to the Census ACS survey.1 Average gross rent was $991 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Arizona median and average rent data will be released in September of 2018.

Data is also available below for Arizona rental vacancy rates, Arizona rent as a percent of median income and the fraction of renters in Arizona.

Show dollars as: Nominal Real

Real Gross Rent in Arizona (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Arizona Median Gross Rent $976 +3.28% +9.05%

Arizona Real Gross Rent Trends

Median gross rent for Arizona peaked in real terms in 2008 at $980 and is now $4 (0.41%) lower. Average gross rent for Arizona peaked in real terms in 2008 at $995 and is now $4 (0.40%) lower.

Real Gross Rent in Arizona: Median, Average, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Arizona

Date US Median Arizona Median Arizona Average
2016 $981 $976 $991
2015 $972 $945 $960
2014 $942 $924 $947
2013 $910 $895 $925
2012 $898 $902 $937
2011 $898 $877 $906
2010 $912 $901 $940
2009 $916 $935 $967
2008 $932 $980 $995
2007 $885 $919 $951
2006 $895 $894 $928
2005 $869 $856 $873

Arizona Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Arizona was 6.41% according to Census ACS data.

Rental Vacancy Rate in Arizona

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Arizona 6.41% -1.31% -2.48%

Trends in Arizona Rental Vacancy Rate

The rental vacancy rate in Arizona peaked in 2009 at 12.62%. Since then it has fallen by 6.21% to 6.41%. Data records for this series originated in 2005.

Rental Vacancy Rate: Arizona, US

Rental vacancy rate in Arizona

Historical Rental Vacancy Rate data for Arizona

Date US Arizona
2016 5.89% 6.41%
2015 5.85% 7.72%
2014 6.32% 8.11%
2013 6.49% 8.89%
2012 6.77% 9.01%
2011 7.40% 10.21%
2010 8.17% 11.07%
2009 8.43% 12.62%
2008 7.86% 11.33%
2007 7.87% 9.22%
2006 7.70% 8.18%
2005 7.74% 8.57%

Arizona Rent as a Fraction of Income

Using median household income data for Arizona, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Arizona, median monthly gross rent as a fraction of median household income was 21.87% in 2016 according to the ACS.

Arizona Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Arizona 21.87% +0.12% -0.15%

Trends in Arizona Rent as a Fraction of Income

The fraction of median Arizona household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 22.28%. Since then it has fallen by 0.41% to 21.87%.

Fraction of Income towards Rent: Arizona, US

Percent of median household income going towards median monthly gross rent in Arizona

Historical Data for Annual Rent as a Fraction of Income in Arizona

Date US Arizona
2016 20.43% 21.87%
2015 20.63% 21.74%
2014 20.89% 21.95%
2013 20.78% 22.02%
2012 20.65% 22.28%
2011 20.70% 21.84%
2010 20.50% 21.65%
2009 20.12% 21.15%
2008 19.00% 20.39%
2007 18.66% 19.70%
2006 18.90% 19.35%
2005 18.89% 19.43%

Renter Fraction in Arizona

You can calculate the renter fraction in Arizona in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Arizona as a fraction of total Arizona households. In 2016 36.76% of households were renters according to Census ACS data.

Arizona Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Arizona 36.76% -1.33% -1.18%

Trends in the Arizona Renter Fraction

The Arizona household renter fraction peaked in in 2014 at 38.86% and is now 2.10% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Arizona, US

Fraction of renters in Arizona

History of Arizona Renter Fraction

Date US Arizona
2016 36.88% 36.76%
2015 36.97% 38.09%
2014 36.90% 38.86%
2013 36.50% 37.94%
2012 36.09% 37.44%
2011 35.42% 36.27%
2010 34.65% 34.75%
2009 34.13% 32.94%
2008 33.36% 31.88%
2007 32.80% 31.91%
2006 32.73% 31.55%
2005 33.10% 31.83%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.