--- title: What Is Fair Market Rent in Scottsdale, Phoenix, Chandler, and Tempe? description: Discover how understanding fair market rent in Phoenix, Scottsdale, Chandler, and Tempe can help you negotiate better lease terms and align your real estate strategy with market realities. image: https://blog.keyser.com/hubfs/AdobeStock_1513180335.jpeg --- [Strategy](https://blog.keyser.com/topic/strategy) , [Commercial Real Estate](https://blog.keyser.com/topic/commercial-real-estate) , [Dual Agency](https://blog.keyser.com/topic/dual-agency) # What Is Fair Market Rent in Scottsdale, Phoenix, Chandler, and Tempe? [By Jonathan Keyser](https://blog.keyser.com/author/jonathan-keyser) November 17, 2025 - [** ](https://twitter.com/intent/tweet?url={url}&text={title}) - [** ](https://www.linkedin.com/shareArticle?mini=true&url={url}&title={title}) - [** ](https://www.facebook.com/sharer.php?u={url}) # **What Is Fair Market Rent in Scottsdale, Phoenix, Chandler, and Tempe?** When companies evaluate new leases or renewals across Arizona, a key benchmark is **fair market rent Phoenix** and its neighboring markets—such as Scottsdale, Chandler, and Tempe. Understanding what constitutes fair market rent helps occupiers negotiate with confidence, benchmark alternatives, and avoid overpaying. For occupiers of **office**, **warehouse**, **manufacturing**, **medical**, or **retail** space, it’s essential to align rental commitments with market reality. **Defining Fair Market Rent**   **Fair market rent Phoenix** refers to the rate a willing tenant would pay and a willing landlord would accept for comparable space in the open market, given current market conditions, without undue pressure on either side. It takes into account lease term, asset class, location quality, tenant improvements, and property type. It’s not simply the quoted “asking rent”—it also reflects concessions, build-out allowances, escalation terms, and other lease economics.   ## Recent Market Benchmarks in the Phoenix Region For example, recent data in the Phoenix/Scottsdale region provides useful reference points: - In the broader Phoenix office market, the average asking rent for Class A space was approximately **$32.91 per square foot** in 2024. - Further, a 2025 Q2 report for Greater Phoenix showed asking office lease rates around **$29.78 per square foot** in one data set. - Vacancy levels remain elevated in some segments: for example, the office vacancy rate in Phoenix was about 23.6% in Q3 2025. - While these numbers are office-specific, they set a baseline for fair market rent discussions and trends across other property types. For **warehouse** and **manufacturing** space in the region, vacancy and base rent conditions vary more widely. The region’s strong industrial growth gives a different context to fair market rent for logistics. Similarly, for **medical** and **retail** space in Scottsdale or Tempe, fair market rents must reflect specialized build-out needs, tenant-improvement allowances, and shorter lease terms. ## **How Occupiers Use Fair Market Rent in Negotiation** Occupiers analyzing **fair market rent Phoenix** should:   - Benchmark their current or proposed rate against recent comparable deals in Scottsdale, Chandler, Tempe, and Phoenix proper. - Factor in asset class differences: a medical office near a hospital campus will command a premium above standard office space. - Adjust for concessions: high tenant improvement allowances or free-rent periods effectively lower the net rent. - Consider broader portfolio implications: for a company with multi-market exposure or warehouse/manufacturing footprint, alignment with regional wage growth, power infrastructure, and logistics must inform the fair market rent calculation. ## **How Keyser Helps** As a global, [AI-enabled ](https://keyser.com/ai/)advisery firm, Keyser has the tools and reach to assess **fair market rent Phoenix** and its adjacent markets in depth. With over 600 professionals and international partners, Keyser applies proprietary market analytics and artificial intelligence to evaluate lease economics across all property types—office, warehouse, manufacturing, medical, and retail.   Keyser’s conflict-free occupier-only model ensures that benchmarking and advice are fully aligned with tenant interests—no landlord side conflicts. The firm helps tenants quantify fair market rent, negotiate better terms, identify hidden costs, and structure leases that reflect business strategy, not simply market averages.   #### **In Summary** Whether you’re renewing in Tempe, relocating to Chandler, expanding into Scottsdale, or optimizing your Phoenix footprint, understanding **fair market rent Phoenix**—and how it differs by asset class—is essential. With insights into local benchmarks, concessions, and lease terms across office, warehouse, manufacturing, medical, and retail, you can negotiate smarter.   Let [Keyser](https://keyser.com/keysers-team/) guide you through the data, the strategy, and the decision-making process—so your next lease reflects true market value and aligns with your business goals.   ### Frequently Asked Questions:  ###### **Q: What does “fair market rent” mean in Phoenix, Scottsdale, Chandler, and Tempe?** ###### **A:** Fair market rent is the rate a tenant would reasonably expect to pay for comparable commercial space in the same submarket, based on current supply, demand, concessions, asset quality, and recent lease transactions. ###### **Q: How can I determine if the rent I’m being offered is truly “fair market” in these Arizona submarkets?** **A:** Compare the proposed rate to recent comps in your specific submarket, evaluate Class A vs. Class B differences, analyze concessions such as TI allowances or free rent, and work with a tenant-only advisor who can interpret real-time market data without landlord conflicts.   ###### **Q: What current market trends impact fair market rent across the Phoenix metro area?** **A:** High vacancy rates, shifts in office demand, landlord competition, and evolving incentives (like increased TI packages) all influence fair market rent in Scottsdale, Phoenix, Chandler, and Tempe, often giving tenants more leverage in negotiations. [All posts](https://blog.keyser.com) [Jonathan Keyser](https://blog.keyser.com/author/jonathan-keyser) Jonathan Keyser is the Founder and Managing Partner of Keyser Commercial Real Estate, which has become the largest commercial real estate firm of its kind in Arizona. Jonathan is also a Founding Partner of Exis Global, which today has over 580 people worldwide exclusively representing occupiers of commercial real estate. He is also the founder of a small investment fund that invests in emerging technology companies within Arizona, supporting and helping to grow the state's startup ecosystem. Jonathan was named “The Commercial Real Estate Disruptor” by USA Today. He is a #1 Wall Street Journal Best Selling Author, for his book, “You Don’t Have to be Ruthless to Win”. Jonathan is a highly sought-after keynote speaker, is widely recognized as a thought leader, has been featured in hundreds of articles, publications, and podcasts, and has been named a “Top 20 Virtual Keynote Speaker” nationally. As an entrepreneur, Jonathan has built Keyser into an eight-figure firm, which was named one of the Top 50 Most Trustworthy Companies in America by The Silicon Review. Jonathan is also one of the most connected business leaders in Arizona. He is an active member of Greater Phoenix Leadership, Young Presidents Organization (YPO), Chief Executive Organization (ceo), and the Million Dollar Speaking Group (MDSG) within the National Speakers Association (NSA). With almost 30 years of experience in the Commercial Real Estate Industry, Jonathan’s firm represents occupiers of space exclusively, both domestically and internationally across a broad range of industries. Jonathan is sought out by companies worldwide for his expertise in real estate and business acumen. He is particularly skilled at identifying creative strategies to align real estate with business requirements, designing and implementing unique solutions to complex real estate challenges, and resolving landlord-tenant conflicts where negotiations have deteriorated due to rising hostilities. Jonathan is happily married to his wife, Susanna, and has six children. His mission is to change the business community through selfless service, and his entire firm is built upon this philosophy. Jonathan is known throughout the business community as someone who loves to help others and who goes out of his way to be of service to people across the community. [** ](https://jonathankeyser.com/) [** ](https://www.linkedin.com/in/jonathankeyser/) ##### You might also like ![How California Closets Found the Right Space for Growth](https://blog.keyser.com/hubfs/AdobeStock_1322531871.jpeg) [How California Closets Found the Right Space for Growth](https://blog.keyser.com/how-california-closets-found-the-right-space-for-growth) November 17, 2025 ![Four Phrases That Can Limit Your Leverage During a Lease Renewal](https://blog.keyser.com/hubfs/Four%20Phrases%20That%20Can%20Limit%20Your%20Leverage%20During%20a%20Lease%20Renewal.png) [Four Phrases That Can Limit Your Leverage During a Lease Renewal](https://blog.keyser.com/four-phrases-that-can-limit-your-leverage-during-a-lease-renewal) November 17, 2025 ![How Executives Should Use AI in CRE](https://blog.keyser.com/hubfs/AI%20in%20CRE_3.png) [How Executives Should Use AI in CRE](https://blog.keyser.com/how-executives-should-use-ai-in-cre) November 17, 2025 [![](https://keyser.com/wp-content/uploads/2023/01/cropped-LogoBug-RGB.png)](https://keyser.com/) **Designated Broker **Jonathan Keyser **License Number **KEYSER, LLC LC646225000 [**Privacy Policy**](https://keyser.com/commercial-real-estate/privacy-policy/) SERVICES [**Commercial Real Estate**](https://keyser.com/commercial-real-estate/) [**Business Advisory Services**](https://keyser.com/business-advisory-services/) ABOUT US [**Our Team**](https://keyser.com/our-team/) [**Our Culture**](https://keyser.com/selfless-service-culture/) [**Join The Team**](https://keyser.com/join-the-movement/) RESOURCE CENTER [**Blog**](https://blog.keyser.com/) [**Featured In**](https://keyser.com/featured-in/) LOCATIONS **Keyser World Headquarters **6400 E. 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