Arizona Residential Rent and Rental Statistics
The median monthly gross residential rent in Arizona was $1,101 in 2019 according to the Census ACS survey.1 Average gross rent was $1,098 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Arizona median and average rent data will be released in September of 2021.
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.
Real Gross Rent in Arizona (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Arizona Median Gross Rent | $1,101 | +4.36% | +7.73% |
Arizona Real Gross Rent Trends
At $1,101, real median gross rent in Arizona was at its highest level in 2019 since the series began in 2005. At $1,098, real average gross rent in Arizona was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Arizona: Median, Average, US Median
Real Gross Rent History for Arizona
| Date | US Median | Arizona Median | Arizona Average |
|---|---|---|---|
| 2019 | $1,097 | $1,101 | $1,098 |
| 2018 | $1,077 | $1,055 | $1,071 |
| 2017 | $1,043 | $1,052 | $1,060 |
| 2016 | $1,027 | $1,022 | $1,038 |
| 2015 | $1,017 | $990 | $1,006 |
| 2014 | $986 | $967 | $991 |
| 2013 | $953 | $937 | $969 |
| 2012 | $940 | $945 | $981 |
| 2011 | $941 | $918 | $948 |
| 2010 | $955 | $943 | $984 |
| 2009 | $960 | $979 | $1,012 |
| 2007 | $927 | $962 | $996 |
| 2005 | $910 | $896 | $914 |
Arizona Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Arizona was 5.32% according to Census ACS data.
Rental Vacancy Rate in Arizona
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Arizona | 5.32% | -0.39% | -1.09% |
Trends in Arizona Rental Vacancy Rate
The rental vacancy rate in Arizona peaked in 2009 at 12.62%. Since then it has fallen by 7.30% to 5.32%. Data records for this series originated in 2005.
Rental Vacancy Rate: Arizona, US
Historical Rental Vacancy Rate data for Arizona
| Date | US | Arizona |
|---|---|---|
| 2019 | 5.97% | 5.32% |
| 2018 | 6.15% | 5.71% |
| 2017 | 6.18% | 5.99% |
| 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% |
| 2007 | 7.87% | 9.22% |
| 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 21.29% in 2019 according to the ACS.
Arizona Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Arizona | 21.29% | +0.31% | -0.58% |
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 0.99% to 21.29%.
Fraction of Income towards Rent: Arizona, US
Historical Data for Annual Rent as a Fraction of Income in Arizona
| Date | US | Arizona |
|---|---|---|
| 2019 | 20.03% | 21.29% |
| 2018 | 20.50% | 20.98% |
| 2017 | 20.13% | 21.63% |
| 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% |
| 2007 | 18.66% | 19.70% |
| 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 2019 34.74% of households were renters according to Census ACS data.
Arizona Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Arizona | 34.74% | -0.45% | -2.02% |
Trends in the Arizona Renter Fraction
The Arizona household renter fraction peaked in in 2014 at 38.86% and is now 4.12% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Arizona, US
History of Arizona Renter Fraction
| Date | US | Arizona |
|---|---|---|
| 2019 | 35.89% | 34.74% |
| 2018 | 36.05% | 35.19% |
| 2017 | 36.13% | 35.28% |
| 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% |
| 2007 | 32.80% | 31.91% |
| 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. ↩
