University Park renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in the purple and dark green areas.

Tempe, AZ map (which includes University Park) of rent costs by neighborhood

Rental Price Key

Luxury
High-end
Mid-tier
Most affordable

 


On average, the cost of rent in University Park is about $1,339 per month. This puts it in the 63rd percentile compared to the city average cost of rent, which is $1,482. Households in University Park have a median income of $1,626 per month so the average renter in University Park is spending roughly 82% of their earnings on housing.

Nationally, and in University Park, home values are the data point most closely correlated with the cost of rent. The median price of a home in University Park is $825,906 right now, which is higher than neighborhoods nearby, meaning that rents in University Park also tend to be higher versus these nearby neighborhoods.

Higher rent prices are common in the central parts of University Park while lower rent rates are often available in western areas.

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