Tempe, AZ—85284
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Tempe, AZ
As of Oct '25, the median home price in Tempe, AZ is $700,000, with a year-over-year change of -1.2%. This indicates that home prices in Tempe, AZ are decreasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $700,000 | -1.2% |
| Single Family | $702,000 | -1.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $406,000 | -3.6% |
3 Bed | $548,000 | -3.7% |
4 Bed | $747,000 | -1.2% |
| 5 Bed | $1,047,000 | 0.7% |
% of Housing Stock
Rental Trends — Tempe, AZ
As of July '25, Rentcast reports the average rent in Tempe, AZ is $2,980, with a year-over-year rent change of 24.7%. Per bedroom, the median rent as of July '25 in Tempe, AZ is 2-bedrooms: $2,220, 3-bedrooms: $2,950, 4-bedrooms: $3,040. The most common rental property sizes in Tempe, AZ are 2-bedroom and 3-bedroom, accounting for 30.7% and 30.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,800 | $2,980 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $2,200 | $2,220 |
| 3 Bed Rent | $2,740 | $2,950 |
| 4 Bed Rent | $2,950 | $3,040 |
% of Rental Stock
Property Listings — Tempe, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Tempe, AZ is 50. This is a increase of 34.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $849,000 | 8.0% |
Listing Count | 56 | 28.0% |
| Listings as % of Homes | 0.5% | 28.0% |
Days on Market | 50 | 34.0% |
Demographics — Tempe, AZ
As of the latest ACS Survey released in 2023, Tempe, AZ has a population of 19,700, which has increased by 4.0% over the past 5 years. Tempe, AZ is a moderately popular place for families, as children make up 18.7% of the population. The area has a highly educated workforce, with 68.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 24.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,700 | 4.0% |
% Under 18 | 18.7% | -9.2% |
% Seniors | 18.2% | 19.7% |
% WFH | 24.5% | 181.6% |
% w/ College Degree | 68.7% | 5.0% |
As of the latest ACS Survey released in 2023, Tempe, AZ is a predominantly white area, with 70.0% of the population identifying as white. The white population has shrunk by 2.6% in the last 5 years. The second most common race or ethnicity in Tempe, AZ is hispanic, making up 11.2% of the population. Foreign-born residents account for 12.5% of the population in Tempe, AZ, and this percentage has increased by 21.4% 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 | 70.0% | -2.6% |
% Black | 4.0% | 66.7% |
% Hispanic | 11.2% | -8.2% |
% Asian | 9.8% | 3.2% |
% Foreign Born | 12.5% | 21.4% |
Mortgage and Risk — Tempe, AZ
According to HUD data as of 2023, there were 246 mortgage originations in Tempe, AZ, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 47.0%, with 7.0% above 90% LTV (normal). This implies small mortgage risk in Tempe, AZ. Investor activity is low, as 3.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 246 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Tempe, AZ
Tempe, AZ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 19 |
Total Units Section 8 | 19 |
% Rentals under Section 8 | 0.7% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $2,390 |
| 2 Bedroom | $580 | $2,200 | $2,780 |
| 3 Bedroom | $1,000 | $2,740 | $3,740 |
| 4 Bedroom | $1,230 | $2,950 | $4,180 |
Affordability — Tempe, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $700,000 |
| Median Household Income | $155,000 |