Luxury Apartments for Rent in 85040
114 rentals
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NEW - 11 HRS AGOAPPLY INSTANTLY
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SPECIAL OFFERPET FRIENDLYTotal price$1,995 - $2,250/mo
4 Beds
3 BathsRaymond Place Townhomes | 3850 S 18th St,
Phoenix, AZ 85040
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SPECIAL OFFERPET FRIENDLYTotal price$1,895 - $2,195/mo3 Beds3 BathsSouth Mountain Shadows | 1672 E Chipman Rd,
Phoenix, AZ 85040
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Average Rent Trends in 85040
Rent in 85040 varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent decreased in Aug 2026 compared to the previous month. Rent previously peaked in Feb 2025.
| Month | Average rent |
|---|---|
| Sep 2025 | $1,685 |
| Oct 2025 | $1,600 |
| Nov 2025 | $1,559 |
| Dec 2025 | $1,550 |
| Jan 2026 | $1,700 |
| Feb 2026 | $1,795 |
| Mar 2026 | $1,895 |
| Apr 2026 | $1,800 |
| May 2026 | $1,750 |
| Jun 2026 | $1,799 |
| Jul 2026 | $1,688 |
| Aug 2026 | $1,654 |
Average Rent By Bedroom and Home Type
In August 2026, Apartments and Condos were the most affordable home type to rent compared with Townhomes and Houses.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $1,161 | $1,295 | $2,018 | $2,145 | $1,695 |
| Townhomes | — | $1,295 | $1,695 | — | $1,400 |
| Apartments and Condos | $1,100 | $1,095 | $1,800 | $1,799 | $1,228 |
| Houses | $650 | $1,750 | $2,195 | $2,299 | $2,145 |
Frequently Asked Questions about Rentals in 85040
- What is the average rent of an apartment in 85040?The average rent of an apartment in 85040 is $1,388 per month. This is about 29% lower than the national average.
- When is the average rent cheapest in 85040?In the last year, the average rent in 85040 was lowest in Dec 2025 when it was $1,550 per month.
- When is the average rent most expensive in 85040?In the last year, the average rent in 85040 was highest in Feb 2025 when it was $1,935 per month.
- How does the rent of a 1 bedroom apartment compare to a studio apartment in 85040?The average rent of a 1 bedroom apartment in 85040 is $1,161 per month. That is about $211 more than the cost of a studio apartment.
- How many available rental listings are in 85040?There are 120 available rental listings in 85040.
- What are some cities near 85040?Some nearby cities include: Guadalupe, Tempe, Paradise Valley, Komatke, Saint Johns, Phoenix. These cities may have more rental options to explore.
View this page in Spanish: Apartamentos de lujo en renta en 85040 - 199 Rentas | Trulia