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  5. /Paradise Valley, Phoenix, AZ - 85032

Paradise Valley, Phoenix, AZ—85032

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$453,000
0.1% YoY Growth
Household Income
$74,300
37.2% YoY Growth
Days on Market
49
3.0% Shorter YoY
Home Price Forecast
-1.2%
Median Rent
$1,870
0.0% YoY Growth
1-Bed Rent
$1,260
4.8% YoY Growth
2-Bed Rent
$1,500
3.7% YoY Growth
3-Bed Rent
$2,410
1.2% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Paradise Valley, Phoenix, AZ

As of May '26, the median home price in Paradise Valley, Phoenix, AZ is $453,000, with a year-over-year change of -0.1%. This indicates that home prices in Paradise Valley, Phoenix, AZ are flat. According to Zillow, the 1-year price projection is -1.2%, suggesting a decrease housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$453,000-0.1%
Single Family $476,0000.4%
Condos $244,000-3.2%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $236,000
    -2.1%
    2 Bed
    		$294,000-3.3%
    3 Bed
    		$470,0000.0%
    4 Bed
    		$610,0001.5%
    5 Bed $803,0651.9%
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    % of Housing Stock

    Studio
    3.3%
    1 Bedroom
    12.9%
    2 Bedrooms
    26.3%
    3 Bedrooms
    40.0%
    4 Bedrooms
    15.9%
    5+ Bedrooms
    1.7%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    6.3%
    1 Bedroom
    24.4%
    2 Bedrooms
    40.5%
    3 Bedrooms
    22.8%
    4 Bedrooms
    5.6%
    5+ Bedrooms
    0.4%

    Property Listings — Paradise Valley, Phoenix, AZ

    As of May '26, Realtor.com reports that the median days on market for a home in Paradise Valley, Phoenix, AZ is 49. This is a decrease of -3.0% 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 39.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$450,000-12.0%
    Listing Count
    		2751.0%
    Listings as % of Homes0.6%1.0%
    Days on Market
    		49-3.0%
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    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.

    MetricLatest CensusYoY % 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%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio6
    Median Home Price$453,000
    Median Household Income$74,300

    Paradise Valley, Phoenix, AZ — ZIP Code Boundary Map

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    Frequently Asked Questions