Arizona’s highest rent prices can be found here in the Valley. It’s not that surprising, right?
After all, the state capital and the surrounding areas are home to Arizona sports teams, renowned restaurants, bustling nightlife and music venues.
Additionally, big national companies like Intel, Insight and JPMorgan Chase operate out of the Valley and tech companies are migrating to join them. To accommodate that, more homes are being built in the Valley now that in the last ten years.
What is surprising, however, is just how much rent costs. According to Yardi Matrix, a commercial real estate intelligence source, the average rent in more than half of the ZIP codes on the list is more than the national average rent, which is $1,316. All ten ZIP codes are well over the state average rent of $947.
The top two ZIP codes cover the heart of downtown Phoenix. Yardi Matrix’s numbers show ZIP code 85003 has the highest rent costing $1,576 on average. Cross Central Avenue and the average rent will cost about $50 less.
Scottsdale neighborhoods appear the list the most. Those rent averages range from $1,403 to $1,287. One Tempe ZIP code ranked in the middle of the list with rent costing $1,345 on average. And coming in at number 10, rent in 85286 in Chandler averages around $1,250, according to Yardi Matrix.
So whether your current lease is ending or you’re new to the Valley, you may want to check out this list before settling in a new place.
Top ten most expensive ZIP codes for renters in the Valley:
1. 85003, Phoenix, $1,576
2. 85004, Phoenix, $1,525
3. 85054, Phoenix, $1,423
4. 85255, Scottsdale, $1,403
5. 85254, Scottsdale, $1,386
6. 85281, Tempe, $1,345
7. 85258, Scottsdale, $1,313
8. 85251, Scottsdale, $1,294
9. 85253, Scottsdale, $1,287
10. 85286, Chandler, $1,249
Do you live in one of these ZIPs?