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Grand Canyon University, Phoenix, AZ—85017

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$296,000
7.8% YoY Growth
Household Income
$51,700
60.5% YoY Growth
Days on Market
82
64.0% Longer YoY
Home Price Forecast
-0.1%
Median Rent
$1,300
5.5% YoY Growth
1-Bed Rent
$944
12.1% YoY Growth
2-Bed Rent
$1,300
2.3% YoY Growth
3-Bed Rent
$1,760
5.3% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Grand Canyon University, Phoenix, AZ

As of Dec '25, the median home price in Grand Canyon University, Phoenix, AZ is $296,000, with a year-over-year change of -7.8%. This indicates that home prices in Grand Canyon University, Phoenix, AZ are decreasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$296,000-7.8%
Single Family $300,000-7.7%
Condos $154,000-11.5%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$195,000-10.1%
    3 Bed
    		$308,000-6.7%
    4 Bed
    		$337,000-5.9%
    5 Bed $361,383-4.8%
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    % of Housing Stock

    Studio
    5.3%
    1 Bedroom
    17.7%
    2 Bedrooms
    32.4%
    3 Bedrooms
    29.9%
    4 Bedrooms
    12.8%
    5+ Bedrooms
    1.9%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    8.8%
    1 Bedroom
    26.8%
    2 Bedrooms
    43.0%
    3 Bedrooms
    15.8%
    4 Bedrooms
    4.4%
    5+ Bedrooms
    1.2%

    Property Listings — Grand Canyon University, Phoenix, AZ

    As of Dec '25, Realtor.com reports that the median days on market for a home in Grand Canyon University, Phoenix, AZ is 72. 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$267,000-23.0%
    Listing Count
    		6016.0%
    Listings as % of Homes0.4%16.0%
    Days on Market
    		8264.0%
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    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.

    MetricLatest CensusYoY % Change
    Population
    		44,3005.6%
    % Under 18
    		29.0%-12.1%
    % Seniors
    		5.8%-3.3%
    % WFH
    		7.4%111.4%
    % w/ College Degree
    		11.1%52.1%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio5.9
    Median Home Price$296,000
    Median Household Income$51,700

    Grand Canyon University, Phoenix, AZ — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Westwood, Phoenix, AZ

    85019

    Alhambra, Phoenix, AZ

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    Metrocenter, Phoenix, AZ

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    Frequently Asked Questions