Phoenix rentals took 25 days to lease in Q3 2026, 63.0% of listings offered a concession, and buying cost $1,044 more per month than renting.
Rents were flat to slightly higher quarter over quarter, but 3-bedroom and single-family rents remain 4.8% and 4.3% below a year ago.
Concessions eased to 63.0% from 65.8% in Q2 but remain more than 23 points above the national median, and median days on market rose to 25, six days slower than the national median.
Nearly every manager surveyed expects rents to hold steady, while 14% report more applicants, down from 21% in Q2.
Buying costs $1,044 more per month than renting, up $47 from Q2 and the widest gap since tracking began in Q4 2024.
Download the full national analysis including rent-vs-buy and sentiment data across every tracked metro: Q3 2026 National Rental Market Report
Additional reports are available for the following markets:
Rental data used in this report are sourced and catalogued directly by Rental Beast, unless otherwise noted. Rental Beast listing data covers a range of rental property types and owner types operating within the long-term rental market (generally considered to be leases with a minimum of three months). Single-family rentals are considered to be properties with 4 or fewer units. Multifamily is more than 4 doors. Unless otherwise noted, our analysis uses the Phoenix-Mesa-Chandler, AZ metropolitan statistical area (MSA) as the geographical unit.
Rents are calculated based on these listings. Days on market (DOM) and concession analysis are based on these listings, with some data sources excluded due to DOM and concession info being unavailable or deemed to be unreliable. Concessions are incentives that entice renters to sign a lease (e.g., one month free, a gift card, etc.). Our sentiment survey is based on phone conversations during Q3 2026 with rental building and community managers and property managers. Questions and answer choices:
DISCLAIMER. This report attempts to provide reliable and useful information; however, there is no guarantee that the information or other content in this document is accurate, current or suitable for any particular purpose. All content is subject to change without notice. All content is provided on an “as is” basis, with no warranties of any kind whatsoever. Rental data used in this report are sourced and catalogued directly by Rental Beast, unless otherwise noted. Our analysis uses MSA as the geographical unit and is not reflective of all-U.S. measures. Information from this document may be used with proper attribution.
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