Mesa, AZ—85208
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mesa, AZ
As of Oct '25, the median home price in Mesa, AZ is $378,000, with a year-over-year change of -3.6%. This indicates that home prices in Mesa, 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 Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $378,000 | -3.6% |
| Single Family | $383,000 | -3.8% |
| Condos | $270,000 | -3.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $322,000 | -3.9% |
3 Bed | $386,000 | -3.5% |
4 Bed | $437,000 | -3.7% |
| 5 Bed | $534,000 | -3.6% |
% of Housing Stock
Rental Trends — Mesa, AZ
As of July '25, Rentcast reports the average rent in Mesa, AZ is $2,030, with a year-over-year rent change of -3.8%. Per bedroom, the median rent as of July '25 in Mesa, AZ is studios: $999, 1-bedrooms: $1,460, 2-bedrooms: $2,060, 3-bedrooms: $2,010, 4-bedrooms: $2,280. The most common rental property sizes in Mesa, AZ are 3-bedroom and 2-bedroom, accounting for 39.7% and 27.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,960 | $2,030 |
| Studio Rent | $999 | $999 |
| 1 Bed Rent | $1,260 | $1,460 |
| 2 Bed Rent | $1,900 | $2,060 |
| 3 Bed Rent | $2,000 | $2,010 |
| 4 Bed Rent | $2,200 | $2,280 |
% of Rental Stock
Property Listings — Mesa, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Mesa, AZ is 46. This is a increase of 13.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $397,000 | -4.0% |
Listing Count | 127 | 62.0% |
| Listings as % of Homes | 0.6% | 62.0% |
Days on Market | 46 | 13.0% |
Demographics — Mesa, AZ
As of the latest ACS Survey released in 2023, Mesa, AZ has a population of 37,800, which has remained stable by -0.3% over the past 5 years. Mesa, AZ is a moderately popular place for families, as children make up 21.2% of the population. The area has a poorly educated workforce, with 21.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 37,800 | -0.3% |
% Under 18 | 21.2% | 15.8% |
% Seniors | 24.5% | -11.2% |
% WFH | 11.9% | 91.9% |
% w/ College Degree | 21.0% | 1.4% |
As of the latest ACS Survey released in 2023, Mesa, AZ is a predominantly white area, with 65.8% of the population identifying as white. The white population has shrunk by 8.6% in the last 5 years. The second most common race or ethnicity in Mesa, AZ is hispanic, making up 22.4% of the population. Foreign-born residents account for 9.4% of the population in Mesa, AZ, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 65.8% | -8.6% |
% Black | 3.0% | 57.9% |
% Hispanic | 22.4% | -1.3% |
% Asian | 2.5% | 47.1% |
% Foreign Born | 9.4% | 0.0% |
Mortgage and Risk — Mesa, AZ
According to HUD data as of 2023, there were 322 mortgage originations in Mesa, AZ, of which 75.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Mesa, AZ. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 322 |
% Conventional Loans | 75.0% |
% Government Loans | 25.0% |
% Investor Loans | 1.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Mesa, AZ
As of 2024, the percent of homes in Mesa, AZ under the Section 8 program is 4.0%. 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 Mesa, 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 | 206 |
Total Units Section 8 | 129 |
% Rentals under Section 8 | 4.0% |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $400 | $1,260 | $1,660 |
| 2 Bedroom | $30 | $1,900 | $1,930 |
| 3 Bedroom | $600 | $2,000 | $2,600 |
| 4 Bedroom | $700 | $2,200 | $2,900 |
Affordability — Mesa, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.6 |
| Median Home Price | $378,000 |
| Median Household Income | $68,500 |