Palo Verde, Tucson, AZ—85712
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Palo Verde, Tucson, AZ
As of Oct '25, the median home price in Palo Verde, Tucson, AZ is $282,000, with a year-over-year change of -3.5%. This indicates that home prices in Palo Verde, Tucson, AZ are decreasing. 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 | $282,000 | -3.5% |
| Single Family | $299,000 | -4.2% |
| Condos | $159,000 | -7.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $124,000 | -7.5% |
2 Bed | $233,000 | -4.1% |
3 Bed | $321,000 | -3.6% |
4 Bed | $387,000 | -3.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Palo Verde, Tucson, AZ
As of July '25, Rentcast reports the average rent in Palo Verde, Tucson, AZ is $1,250, with a year-over-year rent change of -3.1%. Per bedroom, the median rent as of July '25 in Palo Verde, Tucson, AZ is studios: $805, 1-bedrooms: $896, 2-bedrooms: $1,220, 3-bedrooms: $1,760, 4-bedrooms: $2,140. The most common rental property sizes in Palo Verde, Tucson, AZ are 1-bedroom and 2-bedroom, accounting for 39.9% and 31.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,140 | $1,250 |
| Studio Rent | $699 | $805 |
| 1 Bed Rent | $850 | $896 |
| 2 Bed Rent | $1,150 | $1,220 |
| 3 Bed Rent | $1,750 | $1,760 |
| 4 Bed Rent | $2,200 | $2,140 |
% of Rental Stock
Property Listings — Palo Verde, Tucson, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Palo Verde, Tucson, AZ is 55. This is a increase of 33.0% 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 39.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $311,000 | -1.0% |
Listing Count | 119 | 29.0% |
| Listings as % of Homes | 0.5% | 29.0% |
Days on Market | 55 | 33.0% |
Demographics — Palo Verde, Tucson, AZ
As of the latest ACS Survey released in 2023, Palo Verde, Tucson, AZ has a population of 32,000, which has decreased by -4.9% over the past 5 years. Palo Verde, Tucson, AZ is a moderately popular place for families, as children make up 15.1% of the population. The area has a moderately educated workforce, with 37.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,000 | -4.9% |
% Under 18 | 15.1% | -18.8% |
% Seniors | 22.7% | 20.7% |
% WFH | 15.0% | 226.1% |
% w/ College Degree | 37.2% | 13.8% |
As of the latest ACS Survey released in 2023, Palo Verde, Tucson, AZ is a predominantly white area, with 57.1% of the population identifying as white. The white population has shrunk by 6.5% in the last 5 years. The second most common race or ethnicity in Palo Verde, Tucson, AZ is hispanic, making up 26.7% of the population. Foreign-born residents account for 10.0% of the population in Palo Verde, Tucson, AZ, and this percentage has decreased by 24.8% 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 | 57.1% | -6.5% |
% Black | 5.8% | -13.4% |
% Hispanic | 26.7% | 6.0% |
% Asian | 3.1% | 6.9% |
% Foreign Born | 10.0% | -24.8% |
Mortgage and Risk — Palo Verde, Tucson, AZ
According to HUD data as of 2023, there were 424 mortgage originations in Palo Verde, Tucson, AZ, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Palo Verde, Tucson, AZ. Investor activity is low, as 6.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 424 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 6.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Palo Verde, Tucson, AZ
As of 2024, the percent of homes in Palo Verde, Tucson, AZ under the Section 8 program is 5.1%. 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. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Palo Verde, Tucson, AZ, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 657 |
Total Units Section 8 | 519 |
% Rentals under Section 8 | 5.1% |
% Occupied Section 8 | 86.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $90 | $850 | $940 |
| 2 Bedroom | $80 | $1,150 | $1,230 |
| 3 Bedroom | -$30 | $1,750 | $1,720 |
| 4 Bedroom | -$200 | $2,200 | $2,000 |
Affordability — Palo Verde, Tucson, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.9 |
| Median Home Price | $282,000 |
| Median Household Income | $48,200 |