Phoenix Suburbs Rank as Nation’s Best Rental Markets

The Phoenix area is the nation’s hotspot for renters looking for the most bang for their buck.

Of the top 10 rental markets in the nation, four — including the top three — are in Greater Phoenix, Realtor.com reported, citing WalletHub. Scottsdale took the top spot, followed by Gilbert and Chandler in second and third, and Peoria in sixth.

WalletHub scored cities based on 21 measures of rental attractiveness and quality of life. Those factors include legal protections for tenants, traffic, job market, recreation, weather and public schools. The Phoenix area scored well for its rental submarkets, quality of life and affordability compared to buying a home.

Scottsdale ranked at the top of the heap for quality of life and affordability. Most renters there spend less than 22 percent of their annual income on rent, and the city has one of the largest average home square footages in the country at 2,179 square feet. Peoria ranked second overall for quality of life.

Gilbert’s average square footage ranked high at 2,100 square feet. The average Gilbert resident spends 21 percent of their annual income on rent, while just 19 percent of households pay more than half of their income on housing, representing the 11th-lowest share in the country for that metric. Gilbert has high public school rankings and the third-lowest crime rate among cities studied.

In Chandler, most people spend about 21 percent of their annual income on rent and about 20 percent of households spend more than half their income on housing. It has tenant protection laws that cap security deposits at two months’ rent and prevent landlords from signing tenants to bedbug-ridden properties. There’s no shortage of newer housing stock, either, as more than 17 percent of homes in the city were built between 2010 and 2024.

Renters in the Phoenix area benefit from rent concessions to get them in the door. About 54 percent of rentals in the Phoenix metro are giving tenants at least one month off their rent — the highest percentage of rent concessions across the country, according to Apartment List.

— Chris Malone Méndez