Bungalows on Market Street
5805 Market St,
Prescott Valley, AZ 86314
$1,725 - $2,400
1-3 Beds
Rental Market Trends in Prescott, AZ
What is the average rent in Prescott, AZ?
$1,425/month
Average Rent
626 Sq Ft
Average Apartment Size
-2.2%
Decrease in the Last Year
As of January 2026, the average rent in Prescott, AZ is $1,425 per month. For comparison, the national average rent price in the US is currently $1,624/month, which means Prescott rent prices are 12% lower than the national average. When you rent an apartment in Prescott, you can expect to pay about $1,348 per month for a studio, $1,425 for a one-bedroom apartment, and around $1,717 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,710 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Prescott, AZ?
In the past year, rent has decreased by 2.2%, which averages out to $31 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated January 2026
Legend
2025
2026
Rent Ranges in Prescott, AZ
Last Updated January 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
23%
$700 - $1,000/month
35%
$1,001 - $1,500/month
29%
$1,501 - $2,000/month
13%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Prescott?
Based on current rent prices, Astoria at Prescott Lakes, Downtown Prescott and Montana Estates are the most affordable neighborhoods in Prescott.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Prescott?
Based on current rent prices, Montana Estates, Downtown Prescott and Astoria at Prescott Lakes are the most expensive neighborhoods in Prescott.
Neighborhood
Average Rent
Average Sq Ft
Which Prescott neighborhoods have the most rentals available?
The neighborhoods in Prescott with the most apartments available are Astoria at Prescott Lakes, Downtown Prescott and Montana Estates .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Prescott, AZ?
Because the average rent in Prescott is $1,425, you’ll want to make about $4,750 per month or $57,000 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Prescott, AZ is 22.9% higher than the national average. Generally, housing in Prescott is 69.5% more expensive than the national average, with rent falling between $1,348 - $1,717. You can expect to pay 2.4% more for groceries, 9.0% less for utilities, and 4.2% more for transportation.
How does Prescott, AZ compare to other nearby cities and neighborhoods?
Use the tool below to compare Prescott, AZ to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
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One Bedroom
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Two Bedroom
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Three Bedroom
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Nearby City Rent Trends
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Methodology
† 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.
* Percentages may not total 100 due to rounding.