Grand Canyon University, Phoenix, AZ—85017
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Grand Canyon University, Phoenix, AZ
As of Oct '25, the median home price in Grand Canyon University, Phoenix, AZ is $299,000, with a year-over-year change of -7.7%. This indicates that home prices in Grand Canyon University, Phoenix, AZ are decreasing. According to Zillow, the 1-year price projection is -0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $299,000 | -7.7% |
| Single Family | $304,000 | -7.6% |
| Condos | $160,000 | -10.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $197,000 | -10.0% |
3 Bed | $311,000 | -6.9% |
4 Bed | $341,000 | -5.8% |
| 5 Bed | $364,000 | -5.0% |
% of Housing Stock
Rental Trends — Grand Canyon University, Phoenix, AZ
As of July '25, Rentcast reports the average rent in Grand Canyon University, Phoenix, AZ is $1,380, with a year-over-year rent change of -5.5%. Per bedroom, the median rent as of July '25 in Grand Canyon University, Phoenix, AZ is studios: $893, 1-bedrooms: $1,020, 2-bedrooms: $1,320, 3-bedrooms: $1,800, 4-bedrooms: $1,990. The most common rental property sizes in Grand Canyon University, Phoenix, AZ are 2-bedroom and 1-bedroom, accounting for 43.0% and 26.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,380 |
| Studio Rent | $887 | $893 |
| 1 Bed Rent | $944 | $1,020 |
| 2 Bed Rent | $1,300 | $1,320 |
| 3 Bed Rent | $1,760 | $1,800 |
| 4 Bed Rent | $1,770 | $1,990 |
% of Rental Stock
Property Listings — Grand Canyon University, Phoenix, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Grand Canyon University, Phoenix, AZ is 73. This is a increase of 45.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $284,000 | -10.0% |
Listing Count | 60 | 35.0% |
| Listings as % of Homes | 0.4% | 35.0% |
Days on Market | 73 | 45.0% |
Demographics — Grand Canyon University, Phoenix, AZ
As of the latest ACS Survey released in 2023, Grand Canyon University, Phoenix, AZ has a population of 44,300, which has increased by 5.6% over the past 5 years. Grand Canyon University, Phoenix, AZ is a popular place for families, as children make up 29.0% of the population. The area has a poorly educated workforce, with 11.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 44,300 | 5.6% |
% Under 18 | 29.0% | -12.1% |
% Seniors | 5.8% | -3.3% |
% WFH | 7.4% | 111.4% |
% w/ College Degree | 11.1% | 52.1% |
As of the latest ACS Survey released in 2023, Grand Canyon University, Phoenix, AZ is a predominantly hispanic area, with 61.0% of the population identifying as hispanic. The hispanic population has shrunk by 7.6% in the last 5 years. The second most common race or ethnicity in Grand Canyon University, Phoenix, AZ is white, making up 20.0% of the population. Foreign-born residents account for 30.7% of the population in Grand Canyon University, Phoenix, AZ, and this percentage has decreased by 11.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 20.0% | 13.0% |
% Black | 9.7% | 47.0% |
% Hispanic | 61.0% | -7.6% |
% Asian | 3.5% | -38.6% |
% Foreign Born | 30.7% | -11.3% |
Mortgage and Risk — Grand Canyon University, Phoenix, AZ
According to HUD data as of 2023, there were 271 mortgage originations in Grand Canyon University, Phoenix, AZ, of which 65.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Grand Canyon University, Phoenix, AZ. Investor activity is low, as 4.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 271 |
% Conventional Loans | 65.0% |
% Government Loans | 35.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Grand Canyon University, Phoenix, AZ
As of 2024, the percent of homes in Grand Canyon University, Phoenix, AZ under the Section 8 program is 3.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Grand Canyon University, Phoenix, AZ, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 258 |
Total Units Section 8 | 209 |
% Rentals under Section 8 | 3.5% |
% Occupied Section 8 | 91.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $496 | $944 | $1,440 |
| 2 Bedroom | $390 | $1,300 | $1,690 |
| 3 Bedroom | $530 | $1,760 | $2,290 |
| 4 Bedroom | $840 | $1,770 | $2,610 |
Affordability — Grand Canyon University, Phoenix, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6 |
| Median Home Price | $299,000 |
| Median Household Income | $51,700 |