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Tempe, AZ—85283

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$445,000
3.8% YoY Growth
Household Income
$81,100
29.4% YoY Growth
Days on Market
61
13.0% Longer YoY
Home Price Forecast
0.4%
Median Rent
$2,200
10.9% YoY Growth
1-Bed Rent
$1,240
9.9% YoY Growth
2-Bed Rent
$1,800
9.3% YoY Growth
3-Bed Rent
$2,500
6.5% YoY Growth

Other Zip Codes in Tempe, AZ

852828528185284
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Tempe, AZ

As of Dec '25, the median home price in Tempe, AZ is $445,000, with a year-over-year change of -3.8%. This indicates that home prices in Tempe, AZ are decreasing. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$445,000-3.8%
Single Family $459,000-4.0%
Condos $284,000-3.4%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$300,000-4.8%
    3 Bed
    		$454,000-3.8%
    4 Bed
    		$571,000-3.2%
    5 Bed $686,526-2.3%
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    % of Housing Stock

    Studio
    4.5%
    1 Bedroom
    12.2%
    2 Bedrooms
    28.2%
    3 Bedrooms
    35.5%
    4 Bedrooms
    16.7%
    5+ Bedrooms
    2.8%

    Rental Trends — Tempe, AZ

    As of July '25, Rentcast reports the average rent in Tempe, AZ is $2,240, with a year-over-year rent change of 10.9%. Per bedroom, the median rent as of July '25 in Tempe, AZ is studios: $1,150, 1-bedrooms: $1,270, 2-bedrooms: $2,000, 3-bedrooms: $2,610, 4-bedrooms: $2,930. The most common rental property sizes in Tempe, AZ are 2-bedroom and 1-bedroom, accounting for 42.0% and 22.8% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,200$2,240
    Studio Rent $1,100$1,150
    1 Bed Rent $1,240$1,270
    2 Bed Rent $1,800$2,000
    3 Bed Rent $2,500$2,610
    4 Bed Rent $2,850$2,930
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    % of Rental Stock

    Studio
    8.0%
    1 Bedroom
    22.8%
    2 Bedrooms
    42.0%
    3 Bedrooms
    22.2%
    4 Bedrooms
    4.7%
    5+ Bedrooms
    0.2%

    Property Listings — Tempe, AZ

    As of Dec '25, Realtor.com reports that the median days on market for a home in Tempe, AZ is 52. This is a increase of 26.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$510,000-3.0%
    Listing Count
    		87-4.0%
    Listings as % of Homes0.3%-4.0%
    Days on Market
    		6113.0%
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    Demographics — Tempe, AZ

    As of the latest ACS Survey released in 2023, Tempe, AZ has a population of 46,800, which has decreased by -8.5% over the past 5 years. Tempe, AZ is a moderately popular place for families, as children make up 20.2% of the population. The area has a moderately educated workforce, with 44.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.7% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		46,800-8.5%
    % Under 18
    		20.2%1.5%
    % Seniors
    		12.4%14.8%
    % WFH
    		18.7%450.0%
    % w/ College Degree
    		44.4%12.7%
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    As of the latest ACS Survey released in 2023, Tempe, AZ is a predominantly white area, with 45.9% of the population identifying as white. The white population has shrunk by 0.6% in the last 5 years. The second most common race or ethnicity in Tempe, AZ is hispanic, making up 30.2% of the population. Foreign-born residents account for 11.7% of the population in Tempe, AZ, and this percentage has decreased by 13.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		45.9%-0.6%
    % Black
    		7.5%-13.8%
    % Hispanic
    		30.2%2.4%
    % Asian
    		7.8%2.6%
    % Foreign Born
    		11.7%-13.3%
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    Mortgage and Risk — Tempe, AZ

    According to HUD data as of 2023, there were 487 mortgage originations in Tempe, AZ, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Tempe, AZ. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		487
    % Conventional Loans
    		86.0%
    % Government Loans
    		14.0%
    % Investor Loans
    		2.0%
    % Second Loans
    		2.0%
    % Cash Out Refinance
    		14.0%
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    Rentals and Section 8 — Tempe, AZ

    As of 2024, the percent of homes in Tempe, AZ under the Section 8 program is 3.2%. 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 Tempe, 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
    		353
    Total Units Section 8
    		332
    % Rentals under Section 8
    		3.2%
    % Occupied Section 8
    		88.4%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$620$1,240$1,860
    2 Bedroom$360$1,800$2,160
    3 Bedroom$410$2,500$2,910
    4 Bedroom$400$2,850$3,250

    Affordability — Tempe, AZ

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio5.5
    Median Home Price$445,000
    Median Household Income$81,100

    Tempe, AZ — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Tempe, AZ

    85284

    Tempe, AZ

    85282

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    85224

    Frequently Asked Questions