Paradise Valley, Phoenix, AZ—85032
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Paradise Valley, Phoenix, AZ
As of Oct '25, the median home price in Paradise Valley, Phoenix, AZ is $443,000, with a year-over-year change of -3.7%. This indicates that home prices in Paradise Valley, Phoenix, AZ are decreasing. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $443,000 | -3.7% |
| Single Family | $466,000 | -3.5% |
| Condos | $250,000 | -6.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $243,000 | -5.8% |
2 Bed | $294,000 | -5.5% |
3 Bed | $461,000 | -3.6% |
4 Bed | $595,000 | -2.5% |
| 5 Bed | $776,000 | -0.9% |
% of Housing Stock
Rental Trends — Paradise Valley, Phoenix, AZ
As of July '25, Rentcast reports the average rent in Paradise Valley, Phoenix, AZ is $2,080, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Paradise Valley, Phoenix, AZ is studios: $1,230, 1-bedrooms: $1,390, 2-bedrooms: $1,560, 3-bedrooms: $2,620, 4-bedrooms: $2,990. The most common rental property sizes in Paradise Valley, Phoenix, AZ are 2-bedroom and 1-bedroom, accounting for 40.5% and 24.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,870 | $2,080 |
| Studio Rent | $1,150 | $1,230 |
| 1 Bed Rent | $1,260 | $1,390 |
| 2 Bed Rent | $1,500 | $1,560 |
| 3 Bed Rent | $2,410 | $2,620 |
| 4 Bed Rent | $2,940 | $2,990 |
% of Rental Stock
Property Listings — Paradise Valley, Phoenix, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Paradise Valley, Phoenix, AZ is 59. This is a increase of 41.0% 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 47.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $390,000 | -18.0% |
Listing Count | 250 | 36.0% |
| Listings as % of Homes | 0.6% | 36.0% |
Days on Market | 59 | 41.0% |
Demographics — Paradise Valley, Phoenix, AZ
As of the latest ACS Survey released in 2023, Paradise Valley, Phoenix, AZ has a population of 70,400, which has decreased by -3.3% over the past 5 years. Paradise Valley, Phoenix, AZ is a moderately popular place for families, as children make up 19.3% of the population. The area has a moderately educated workforce, with 34.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 70,400 | -3.3% |
% Under 18 | 19.3% | -13.5% |
% Seniors | 15.5% | 30.3% |
% WFH | 18.8% | 176.5% |
% w/ College Degree | 34.2% | 6.9% |
As of the latest ACS Survey released in 2023, Paradise Valley, Phoenix, AZ is a predominantly white area, with 58.9% of the population identifying as white. The white population has shrunk by 4.1% in the last 5 years. The second most common race or ethnicity in Paradise Valley, Phoenix, AZ is hispanic, making up 28.9% of the population. Foreign-born residents account for 17.9% of the population in Paradise Valley, Phoenix, AZ, and this percentage has decreased by 10.9% 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 | 58.9% | -4.1% |
% Black | 3.7% | 32.1% |
% Hispanic | 28.9% | 4.3% |
% Asian | 3.9% | -4.9% |
% Foreign Born | 17.9% | -10.9% |
Mortgage and Risk — Paradise Valley, Phoenix, AZ
According to HUD data as of 2023, there were 964 mortgage originations in Paradise Valley, Phoenix, AZ, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Paradise Valley, Phoenix, AZ. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 964 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Paradise Valley, Phoenix, AZ
As of 2024, the percent of homes in Paradise Valley, Phoenix, AZ under the Section 8 program is 2.2%. 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 and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Paradise Valley, Phoenix, AZ, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 304 |
Total Units Section 8 | 240 |
% Rentals under Section 8 | 2.2% |
% Occupied Section 8 | 91.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $320 | $1,260 | $1,580 |
| 2 Bedroom | $340 | $1,500 | $1,840 |
| 3 Bedroom | $70 | $2,410 | $2,480 |
| 4 Bedroom | -$170 | $2,940 | $2,770 |
Affordability — Paradise Valley, Phoenix, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6 |
| Median Home Price | $443,000 |
| Median Household Income | $74,300 |