IMT Desert Palm Village
1215 E Vista Del Cerro Dr,
Tempe, AZ 85281
$1,240 - $1,705
1-3 Beds
Formerly known as the Mill Avenue District, Downtown Tempe serves as the central hub for Tempe shopping, dining, nightlife, and recreation. Built around Arizona State University, the area thrives by embracing the college culture and building a city ideal for home, work and play. Several large businesses offer jobs in Downtown Tempe and housing ranges from quaint historical homes to modern waterfront condos and apartments for rent that overlook Tempe Town Lake.
Located 19 miles from Downtown Phoenix and close to other large suburbs, Downtown Tempe provides an accessible location for community events for residents across the Phoenix metropolitan area. Events such as the Tempe Festival of the Arts draw in nearly 225,000 visitors over a three-day weekend.
As of March 2026, the average apartment rent in Downtown Tempe is $1,397 for a studio, $1,544 for one bedroom, $1,943 for two bedrooms, and $3,969 for three bedrooms. Apartment rent in Downtown Tempe has decreased by -3.5% in the past year.
Studio
470 sq ft
Average Sq Ft
$1,397/month
Average Rent
1 BR
674 sq ft
Average Sq Ft
$1,544/month
Average Rent
2 BR
970 sq ft
Average Sq Ft
$1,943/month
Average Rent
3 BR
1,641 sq ft
Average Sq Ft
$3,969/month
Average Rent
Explore how walkable, bikeable, drivable, and transit-friendly Downtown Tempe - Tempe, AZ is for everyday living.
Very Walkable
If you enjoy walking, you’ll enjoy renting in this area! It’s a very walkable neighborhood.
Good Transit
The area around this property has good transit with many nearby transportation options.
Biker's Paradise
Do you prefer to get around on two wheels? You’ll love living in this neighborhood, which is considered a biker’s paradise.
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† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.