Payson, AZ—85541
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Payson, AZ
As of Oct '25, the median home price in Payson, AZ is $445,000, with a year-over-year change of -1.5%. This indicates that home prices in Payson, AZ are decreasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $445,000 | -1.5% |
| Single Family | $448,000 | -1.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $345,000 | -2.5% |
3 Bed | $484,000 | -1.6% |
4 Bed | $695,000 | -1.3% |
| 5 Bed | $852,000 | -0.5% |
% of Housing Stock
Rental Trends — Payson, AZ
As of July '25, Rentcast reports the average rent in Payson, AZ is $2,210, with a year-over-year rent change of 1.8%. Per bedroom, the median rent as of July '25 in Payson, AZ is studios: $1,340, 1-bedrooms: $1,480, 2-bedrooms: $1,810, 3-bedrooms: $2,980, 4-bedrooms: $3,380. The most common rental property sizes in Payson, AZ are 2-bedroom and 3-bedroom, accounting for 32.9% and 32.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $2,210 |
| Studio Rent | $1,250 | $1,340 |
| 1 Bed Rent | $1,320 | $1,480 |
| 2 Bed Rent | $1,700 | $1,810 |
| 3 Bed Rent | $2,400 | $2,980 |
| 4 Bed Rent | $2,700 | $3,380 |
% of Rental Stock
Property Listings — Payson, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Payson, AZ is 105. This is a increase of 32.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $579,000 | 9.0% |
Listing Count | 285 | -1.0% |
| Listings as % of Homes | 1.0% | -1.0% |
Days on Market | 105 | 32.0% |
Demographics — Payson, AZ
As of the latest ACS Survey released in 2023, Payson, AZ has a population of 23,300, which has increased by 6.9% over the past 5 years. Payson, AZ is a moderately popular place for families, as children make up 15.6% of the population. The area has a poorly educated workforce, with 24.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,300 | 6.9% |
% Under 18 | 15.6% | 9.9% |
% Seniors | 38.6% | 11.9% |
% WFH | 11.7% | 85.7% |
% w/ College Degree | 24.0% | 3.4% |
As of the latest ACS Survey released in 2023, Payson, AZ is a predominantly white area, with 84.3% of the population identifying as white. The white population has shrunk by 5.0% in the last 5 years. The second most common race or ethnicity in Payson, AZ is hispanic, making up 10.9% of the population. Foreign-born residents account for 3.1% of the population in Payson, AZ, and this percentage has decreased by 8.8% 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 | 84.3% | -5.0% |
% Black | 0.4% | -60.0% |
% Hispanic | 10.9% | 91.2% |
% Asian | 0.6% | -14.3% |
% Foreign Born | 3.1% | -8.8% |
Mortgage and Risk — Payson, AZ
According to HUD data as of 2023, there were 616 mortgage originations in Payson, AZ, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Payson, AZ. Investor activity is low, as 1.0% 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 | 616 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 1.0% |
% Second Loans | 18.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Payson, AZ
Payson, AZ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 50 |
Total Units Section 8 | 50 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 94.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$130 | $1,320 | $1,190 |
| 2 Bedroom | -$140 | $1,700 | $1,560 |
| 3 Bedroom | -$270 | $2,400 | $2,130 |
| 4 Bedroom | -$480 | $2,700 | $2,220 |
Affordability — Payson, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.8 |
| Median Home Price | $445,000 |
| Median Household Income | $63,900 |