PHOENIX — For Phoenix renters who have spent the past few years watching their monthly housing costs climb, the latest numbers offer a little breathing room.
Rent prices across the Phoenix metro area are falling as more apartments become available and landlords compete for tenants. The median asking rent in the Phoenix-Mesa-Chandler metropolitan area reached $1,433 in June 2026, down 4.2% from the same month last year, according to Realtor.com’s June 2026 Rent Report.
The change is especially noticeable in some Valley communities. A Zumper report found that one-bedroom rents fell by more than 14% in Glendale, just over 6% in Phoenix and more than 2% in Tempe compared with 2025…