Tempe Park Place
4540 S Rural Rd,
Tempe, AZ 85282
$1,175 - $1,630
1-2 Beds
The Lakes neighborhood is in a convenient location near freeways, major employers, and a ton of great shops and dining establishments. And speaking of places to grab a bite to eat, the diverse menus at the Watershed and Pier 54 restaurants are perfection – and you can enjoy your meal lakeside!
Shopping in the area includes Whole Foods Market, Trader Joes, and Target. Be sure to grab a pastry at the popular Butch Bros or Steve’s Espresso coffee houses. The neighborhood frequently hosts events like potlucks, cookouts, tennis tournaments, and a lighted boat parade. Outdoor recreation is plentiful at Gaicki and Sudder Park.
As of December 2025, the average apartment rent in The Lakes is $997 for a studio, $1,447 for one bedroom, $1,634 for two bedrooms, and $2,077 for three bedrooms. Apartment rent in The Lakes has decreased by -1.9% in the past year.
Studio
447 sq ft
Average Sq Ft
$997/month
Average Rent
1 BR
736 sq ft
Average Sq Ft
$1,447/month
Average Rent
2 BR
993 sq ft
Average Sq Ft
$1,634/month
Average Rent
3 BR
1,311 sq ft
Average Sq Ft
$2,077/month
Average Rent
Somewhat Walkable
out of 100 WalkScore® Rating
You might be able to get out and walk when living in this area. Some errands can be accomplished on foot, but for others you’ll need a car.
Some Transit
out of 100 TransitScore® Rating
You'll likely want a car when living in this area since it has few transit options.
Very Bikeable
out of 100 BikeScore® Rating
This area is very bikeable. You’ll find a variety of bike paths and lanes.
3,446
Communities
949,760
Units
878
Cities
714
Communities
197,731
Units
340
Cities
654
Communities
128,618
Units
254
Cities
622
Communities
169,099
Units
243
Cities
540
Communities
119,844
Units
215
Cities
502
Communities
115,831
Units
254
Cities
† 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 November 2025.