Carefree—85377
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Carefree
As of Oct '25, the median home price in Carefree is $1,207,000, with a year-over-year change of 0.7%. This indicates that home prices in Carefree are flat. 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 Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,207,000 | 0.7% |
| Single Family | $1,300,000 | 0.3% |
| Condos | $479,000 | 0.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $602,000 | 0.3% |
3 Bed | $1,295,000 | -0.5% |
4 Bed | $1,700,000 | 0.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Carefree
As of July '25, Rentcast reports the average rent in Carefree is $4,000, with a year-over-year rent change of -17.0%. Per bedroom, the median rent as of July '25 in Carefree is 1-bedrooms: $1,800, 2-bedrooms: $3,560, 3-bedrooms: $5,230, 4-bedrooms: $8,250. The most common rental property sizes in Carefree are 2-bedroom and 1-bedroom, accounting for 47.3% and 23.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,500 | $4,000 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,800 | $1,800 |
| 2 Bed Rent | $3,500 | $3,560 |
| 3 Bed Rent | $4,200 | $5,230 |
| 4 Bed Rent | $7,500 | $8,250 |
% of Rental Stock
Property Listings — Carefree
As of Oct '25, Realtor.com reports that the median days on market for a home in Carefree is 56. This is a decrease of -19.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,360,000 | 15.0% |
Listing Count | 75 | 25.0% |
| Listings as % of Homes | 2.6% | 25.0% |
Days on Market | 56 | -19.0% |
Demographics — Carefree
As of the latest ACS Survey released in 2023, Carefree has a population of 3,450, which has increased by 4.6% over the past 5 years. Carefree is a less popular place for families, as children make up 2.8% of the population. The area has a highly educated workforce, with 64.1% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 51.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,450 | 4.6% |
% Under 18 | 2.8% | -36.4% |
% Seniors | 46.3% | -15.5% |
% WFH | 51.8% | 709.4% |
% w/ College Degree | 64.1% | 15.5% |
As of the latest ACS Survey released in 2023, Carefree is a predominantly white area, with 96.9% of the population identifying as white. The white population has grown by 1.1% in the last 5 years. The second most common race or ethnicity in Carefree is asian, making up 1.9% of the population. Foreign-born residents account for 12.3% of the population in Carefree, and this percentage has increased by 310.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 96.9% | 1.1% |
% Black | 0.1% | ∞% |
% Hispanic | 1.1% | -72.5% |
% Asian | 1.9% | ∞% |
% Foreign Born | 12.3% | 310.0% |
Mortgage and Risk — Carefree
According to HUD data as of 2023, there were 146 mortgage originations in Carefree, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 48.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in Carefree. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 146 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 1.0% |
% Second Loans | 16.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Carefree
Carefree 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 | $190 | $1,800 | $1,990 |
| 2 Bedroom | -$1,190 | $3,500 | $2,310 |
| 3 Bedroom | -$1,090 | $4,200 | $3,110 |
| 4 Bedroom | -$4,020 | $7,500 | $3,480 |
Affordability — Carefree
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8 |
| Median Home Price | $1,207,000 |
| Median Household Income | $143,000 |