Tempe / Town Lake (trophy, ~$44/sqft/yr) is one of 5 Phoenix Class A submarkets we track.

  • Tempe / Town Lake sits at trophy tier.
  • Average rent $44/sqft/yr vs city average 34.
  • Compared submarkets: Camelback Corridor (trophy), Downtown Phoenix (prime), Chandler / Gilbert (prime).

Tempe / Town Lake vs other Phoenix submarkets

Tempe / Town Lake (trophy, ~$44/sqft/yr) is one of 5 Phoenix Class A submarkets we track.

TL;DR

  • Tempe / Town Lake sits at trophy tier.
  • Average rent $44/sqft/yr vs city average 34.
  • Compared submarkets: Camelback Corridor (trophy), Downtown Phoenix (prime), Chandler / Gilbert (prime).

Side-by-side with peers

**Camelback Corridor** (trophy, $42/sqft/yr) — Phoenix's premier suburban trophy spine. **Downtown Phoenix** (prime, $32/sqft/yr) — Repositioned legacy CBD. **Chandler / Gilbert** (prime, $30/sqft/yr) — Suburban tech and semiconductor corridor. **Scottsdale** (prime, $40/sqft/yr) — Premium suburban Class A market.

Key facts

cityPhoenix
submarketTempe / Town Lake
tiertrophy
averageRentLocal$44/sqft/yr
cityClassARentUsd$34/sqft/yr
cityVacancyPct23.4%

Frequently asked questions

What other submarkets compete with Tempe / Town Lake in Phoenix?
Camelback Corridor, Downtown Phoenix, Chandler / Gilbert

Related

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

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