Cave Creek, AZ—85331
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cave Creek, AZ
As of Oct '25, the median home price in Cave Creek, AZ is $816,000, with a year-over-year change of -0.8%. This indicates that home prices in Cave Creek, AZ are flat. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $816,000 | -0.8% |
| Single Family | $838,000 | -0.6% |
| Condos | $437,000 | -1.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $525,000 | -2.1% |
3 Bed | $719,000 | -1.2% |
4 Bed | $936,000 | -0.4% |
| 5 Bed | $1,177,000 | 0.0% |
% of Housing Stock
Rental Trends — Cave Creek, AZ
As of July '25, Rentcast reports the average rent in Cave Creek, AZ is $4,580, with a year-over-year rent change of 15.1%. Per bedroom, the median rent as of July '25 in Cave Creek, AZ is 1-bedrooms: $1,780, 2-bedrooms: $4,100, 3-bedrooms: $4,460, 4-bedrooms: $4,860. The most common rental property sizes in Cave Creek, AZ are 3-bedroom and 4-bedroom, accounting for 32.6% and 25.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $4,000 | $4,580 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,700 | $1,780 |
| 2 Bed Rent | $3,500 | $4,100 |
| 3 Bed Rent | $3,500 | $4,460 |
| 4 Bed Rent | $5,140 | $4,860 |
% of Rental Stock
Property Listings — Cave Creek, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Cave Creek, AZ is 52. This is a decrease of -14.0% from last year, suggesting that homes are sitting on the market shorter 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 | $956,000 | -11.0% |
Listing Count | 277 | 3.0% |
| Listings as % of Homes | 1.3% | 3.0% |
Days on Market | 52 | -14.0% |
Demographics — Cave Creek, AZ
As of the latest ACS Survey released in 2023, Cave Creek, AZ has a population of 31,900, which has increased by 6.6% over the past 5 years. Cave Creek, AZ is a moderately popular place for families, as children make up 20.5% of the population. The area has a highly educated workforce, with 53.4% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 28.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,900 | 6.6% |
% Under 18 | 20.5% | -3.8% |
% Seniors | 25.6% | 21.3% |
% WFH | 28.9% | 103.5% |
% w/ College Degree | 53.4% | 0.2% |
As of the latest ACS Survey released in 2023, Cave Creek, AZ is a predominantly white area, with 86.3% of the population identifying as white. The white population has shrunk by 1.9% in the last 5 years. The second most common race or ethnicity in Cave Creek, AZ is hispanic, making up 6.7% of the population. Foreign-born residents account for 6.4% of the population in Cave Creek, AZ, and this percentage has decreased by 7.2% 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 | 86.3% | -1.9% |
% Black | 0.7% | 40.0% |
% Hispanic | 6.7% | 19.6% |
% Asian | 2.2% | -21.4% |
% Foreign Born | 6.4% | -7.2% |
Mortgage and Risk — Cave Creek, AZ
According to HUD data as of 2023, there were 726 mortgage originations in Cave Creek, AZ, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 45.0%, with 9.0% above 90% LTV (normal). This implies small mortgage risk in Cave Creek, AZ. Investor activity is low, as 1.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 726 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 1.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Cave Creek, AZ
Cave Creek, AZ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $820 | $1,700 | $2,520 |
| 2 Bedroom | -$570 | $3,500 | $2,930 |
| 3 Bedroom | $440 | $3,500 | $3,940 |
| 4 Bedroom | -$730 | $5,140 | $4,410 |
Affordability — Cave Creek, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.2 |
| Median Home Price | $816,000 |
| Median Household Income | $124,000 |