Average Rent in Prescott Valley, AZ↑ Rents rising 14.5% YoY🔺 3rd priciest in AZ

Prescott Valley, AZ has rental prices ranging from $1,101/month to $2,548/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $1,293/month — 8% below the national average of $1,400/month. With a median household income of $66,106/year, spending $1,293/month on a 1-bedroom represents 23% of gross income — within the recommended 30% threshold.

How Prescott Valley Compares

With an average 2-bedroom rent of $1,606/month, Prescott Valley ranks #3 most expensive of the 15 cities tracked in Arizona — pricier than 94% of all US cities in our data.

The Prescott Valley Rental Market

The Prescott Valley, AZ area has a population of about 241,656 and 27% of households renting rather than owning. That renter share runs below the US average of ~34%, a more homeowner-heavy market where rental inventory can be limited.

Rent Trends

2-bedroom rents in Prescott Valley, AZ have risen by $203/month (14.5%) over the past year, from $1,403 to $1,606. This rate of increase is significant and reflects strong rental demand and limited housing supply in the local market.

Affordability

To afford a 1-bedroom apartment in Prescott Valley, AZ without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $51,720. The local median household income of $66,106 exceeds that threshold by $14,386, making Prescott Valley relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Prescott Valley, AZ is $461,393, giving a price-to-rent ratio of 23.9. With a break-even horizon of approximately 24 years, renting is likely the more financially prudent option for most residents unless they plan to stay long-term.

Is Prescott Valley, AZ Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Prescott Valley?

Break-even analysis and mortgage estimates based on local market data.

Living in Prescott Valley

Cost of living, job market, crime rates, and moving cost estimates.