Hereford, AZ—85615
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hereford, AZ
As of Oct '25, the median home price in Hereford, AZ is $383,000, with a year-over-year change of 1.1%. This indicates that home prices in Hereford, AZ are increasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $383,000 | 1.1% |
| Single Family | $383,000 | 1.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $371,000 | 1.6% |
4 Bed | $477,000 | 3.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Hereford, AZ
As of July '25, Rentcast reports the average rent in Hereford, AZ is $1,660, with a year-over-year rent change of -4.6%. Per bedroom, the median rent as of July '25 in Hereford, AZ is 2-bedrooms: $1,100, 3-bedrooms: $1,270. The most common rental property sizes in Hereford, AZ are 3-bedroom and 1-bedroom, accounting for 55.2% and 28.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,660 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,100 | $1,100 |
| 3 Bed Rent | $1,250 | $1,270 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Hereford, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Hereford, AZ is 68. This is a increase of 6.0% 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 11.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $535,000 | 6.0% |
Listing Count | 89 | 37.0% |
| Listings as % of Homes | 1.0% | 37.0% |
Days on Market | 68 | 6.0% |
Demographics — Hereford, AZ
As of the latest ACS Survey released in 2023, Hereford, AZ has a population of 9,710, which has increased by 2.9% over the past 5 years. Hereford, AZ is a moderately popular place for families, as children make up 19.8% of the population. The area has a moderately educated workforce, with 35.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,710 | 2.9% |
% Under 18 | 19.8% | 3.1% |
% Seniors | 28.2% | 25.3% |
% WFH | 12.4% | 588.9% |
% w/ College Degree | 35.8% | 21.8% |
As of the latest ACS Survey released in 2023, Hereford, AZ is a predominantly white area, with 77.6% of the population identifying as white. The white population has grown by 1.2% in the last 5 years. The second most common race or ethnicity in Hereford, AZ is hispanic, making up 16.0% of the population. Foreign-born residents account for 7.2% of the population in Hereford, AZ, and this percentage has increased by 26.3% 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 | 77.6% | 1.2% |
% Black | 1.6% | 300.0% |
% Hispanic | 16.0% | -26.6% |
% Asian | 0.9% | 800.0% |
% Foreign Born | 7.2% | 26.3% |
Mortgage and Risk — Hereford, AZ
According to HUD data as of 2023, there were 206 mortgage originations in Hereford, AZ, of which 59.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Hereford, AZ. Investor activity is low, as 0.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 206 |
% Conventional Loans | 59.0% |
% Government Loans | 41.0% |
% Investor Loans | 0.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Hereford, AZ
Hereford, AZ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 4 |
Total Units Section 8 | 4 |
% Rentals under Section 8 | 1.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,350 |
| 2 Bedroom | $400 | $1,100 | $1,500 |
| 3 Bedroom | $850 | $1,250 | $2,100 |
| 4 Bedroom | N/A | N/A | $2,520 |
Affordability — Hereford, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $383,000 |
| Median Household Income | $76,200 |