Flagstaff, AZ—86004
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Flagstaff, AZ
As of Oct '25, the median home price in Flagstaff, AZ is $613,000, with a year-over-year change of 1.9%. This indicates that home prices in Flagstaff, AZ are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $613,000 | 2.0% |
| Single Family | $641,000 | 1.7% |
| Condos | $416,000 | 1.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $321,000 | 2.2% |
2 Bed | $438,000 | 0.5% |
3 Bed | $608,000 | 1.7% |
4 Bed | $795,000 | 2.3% |
| 5 Bed | $1,021,000 | 2.5% |
% of Housing Stock
Rental Trends — Flagstaff, AZ
As of July '25, Rentcast reports the average rent in Flagstaff, AZ is $2,140, with a year-over-year rent change of -10.8%. Per bedroom, the median rent as of July '25 in Flagstaff, AZ is studios: $1,500, 1-bedrooms: $1,850, 2-bedrooms: $2,100, 3-bedrooms: $2,590, 4-bedrooms: $2,600. The most common rental property sizes in Flagstaff, AZ are 2-bedroom and 3-bedroom, accounting for 39.9% and 28.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,140 |
| Studio Rent | $1,500 | $1,500 |
| 1 Bed Rent | $1,850 | $1,850 |
| 2 Bed Rent | $2,140 | $2,100 |
| 3 Bed Rent | $2,590 | $2,590 |
| 4 Bed Rent | $2,400 | $2,600 |
% of Rental Stock
Property Listings — Flagstaff, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Flagstaff, AZ is 83. This is a increase of 25.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $729,000 | -9.0% |
Listing Count | 189 | 34.0% |
| Listings as % of Homes | 0.5% | 34.0% |
Days on Market | 83 | 25.0% |
Demographics — Flagstaff, AZ
As of the latest ACS Survey released in 2023, Flagstaff, AZ has a population of 36,900, which has increased by 3.1% over the past 5 years. Flagstaff, AZ is a moderately popular place for families, as children make up 21.9% of the population. The area has a moderately educated workforce, with 44.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,900 | 3.1% |
% Under 18 | 21.9% | -17.0% |
% Seniors | 15.1% | 30.2% |
% WFH | 12.2% | 190.5% |
% w/ College Degree | 44.3% | 9.1% |
As of the latest ACS Survey released in 2023, Flagstaff, AZ is a predominantly white area, with 58.9% of the population identifying as white. The white population has shrunk by 8.8% in the last 5 years. The second most common race or ethnicity in Flagstaff, AZ is hispanic, making up 21.4% of the population. Foreign-born residents account for 6.6% of the population in Flagstaff, AZ, and this percentage has increased by 11.9% 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 | 58.9% | -8.8% |
% Black | 1.1% | 0.0% |
% Hispanic | 21.4% | 11.5% |
% Asian | 1.4% | 40.0% |
% Foreign Born | 6.6% | 11.9% |
Mortgage and Risk — Flagstaff, AZ
According to HUD data as of 2023, there were 601 mortgage originations in Flagstaff, AZ, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Flagstaff, AZ. Investor activity is low, as 2.0% 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 | 601 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 2.0% |
% Second Loans | 11.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Flagstaff, AZ
As of 2024, the percent of homes in Flagstaff, AZ under the Section 8 program is 4.1%. 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. 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Flagstaff, AZ, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 351 |
Total Units Section 8 | 220 |
% Rentals under Section 8 | 4.1% |
% Occupied Section 8 | 82.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$40 | $1,850 | $1,810 |
| 2 Bedroom | -$90 | $2,140 | $2,050 |
| 3 Bedroom | -$80 | $2,590 | $2,510 |
| 4 Bedroom | $410 | $2,400 | $2,810 |
Affordability — Flagstaff, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.1 |
| Median Home Price | $613,000 |
| Median Household Income | $77,500 |