Paradise Valley / Shea, AZ
August 2026
85028,85032,85253
Long-term Rental Rates
Apartment
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,243 – $1,347 | 1.53% | 2.55% |
| 2-Bedroom | $1,439 – $1,559 | -2.14% | 1.49% |
| 3-Bedroom | $1,668 – $1,843 | -18.22% | -22.43% |
| 4-Bedroom | $3,179 – $3,369 | 1.24% | 3.77% |
Condo/Townhome
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,359 – $1,400 | -3.99% | -2.95% |
| 2-Bedroom | $1,575 – $1,706 | -2.13% | -1.03% |
| 3-Bedroom | $2,169 – $2,312 | 2.04% | -3.04% |
| 4-Bedroom | $3,150 – $3,392 | -0.34% | -3.05% |
Single-Family
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,727 – $1,841 | 1.34% | -3.95% |
| 2-Bedroom | $1,886 – $2,023 | -10.37% | -7.84% |
| 3-Bedroom | $2,365 – $2,562 | 0.14% | 1.01% |
| 4-Bedroom | $2,811 – $3,076 | 1.10% | -2.31% |
In the Paradise Valley / Shea (85028, 85032, 85253) rental market, 4-bedroom apartments reached a median rent of $3,176 in April 2026, increasing 4.3% year-over-year. This is a notable exception to the overall apartment segment, where 1BR, 2BR, and 3BR units saw annual declines within Paradise Valley / Shea (85028, 85032, 85253).
While 3-bedroom single-family homes in Paradise Valley / Shea (85028, 85032, 85253) jumped 7.3% month-over-month to $2,380, 3-bedroom condo/townhomes declined 0.6% MoM to $2,099. This creates a price difference, with single-family rents leading condo/townhomes by $281 in the same bedroom category.
Rents for 2-bedroom condo/townhomes averaged $1,689, and Paradise Valley / Shea (85028, 85032, 85253) rental trends indicate a 0.9% increase year-over-year. This outperforms 2-bedroom apartments, which dropped 4.1% YoY, showing improved demand for condos compared to apartments in this segment.