Miracle Mile, Tucson, AZ—85705
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Miracle Mile, Tucson, AZ
As of Oct '25, the median home price in Miracle Mile, Tucson, AZ is $256,000, with a year-over-year change of -4.8%. This indicates that home prices in Miracle Mile, Tucson, AZ are decreasing. According to Zillow, the 1-year price projection is -0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $256,000 | -4.8% |
| Single Family | $261,000 | -5.1% |
| Condos | $184,000 | -5.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $180,000 | -7.7% |
2 Bed | $224,000 | -5.9% |
3 Bed | $278,000 | -4.1% |
4 Bed | $304,000 | -3.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Miracle Mile, Tucson, AZ
As of July '25, Rentcast reports the average rent in Miracle Mile, Tucson, AZ is $1,220, with a year-over-year rent change of -5.4%. Per bedroom, the median rent as of July '25 in Miracle Mile, Tucson, AZ is studios: $760, 1-bedrooms: $879, 2-bedrooms: $1,230, 3-bedrooms: $1,680, 4-bedrooms: $2,070. The most common rental property sizes in Miracle Mile, Tucson, AZ are 2-bedroom and 1-bedroom, accounting for 36.9% and 32.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,220 |
| Studio Rent | $725 | $760 |
| 1 Bed Rent | $849 | $879 |
| 2 Bed Rent | $1,150 | $1,230 |
| 3 Bed Rent | $1,650 | $1,680 |
| 4 Bed Rent | $2,100 | $2,070 |
% of Rental Stock
Property Listings — Miracle Mile, Tucson, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Miracle Mile, Tucson, AZ is 57. This is a increase of 6.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $304,000 | 1.0% |
Listing Count | 104 | 20.0% |
| Listings as % of Homes | 0.2% | 20.0% |
Days on Market | 57 | 6.0% |
Demographics — Miracle Mile, Tucson, AZ
As of the latest ACS Survey released in 2023, Miracle Mile, Tucson, AZ has a population of 54,900, which has decreased by -2.8% over the past 5 years. Miracle Mile, Tucson, AZ is a moderately popular place for families, as children make up 18.1% of the population. The area has a poorly educated workforce, with 20.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 54,900 | -2.8% |
% Under 18 | 18.1% | -13.4% |
% Seniors | 14.7% | 7.3% |
% WFH | 8.0% | 116.2% |
% w/ College Degree | 20.1% | 14.9% |
As of the latest ACS Survey released in 2023, Miracle Mile, Tucson, AZ is a predominantly hispanic area, with 44.7% of the population identifying as hispanic. The hispanic population has shrunk by 4.7% in the last 5 years. The second most common race or ethnicity in Miracle Mile, Tucson, AZ is white, making up 41.0% of the population. Foreign-born residents account for 18.2% of the population in Miracle Mile, Tucson, AZ, and this percentage has decreased by 4.2% 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 | 41.0% | 3.5% |
% Black | 3.7% | 12.1% |
% Hispanic | 44.7% | -4.7% |
% Asian | 4.0% | -4.8% |
% Foreign Born | 18.2% | -4.2% |
Mortgage and Risk — Miracle Mile, Tucson, AZ
According to HUD data as of 2023, there were 356 mortgage originations in Miracle Mile, Tucson, AZ, of which 59.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 43.0% above 90% LTV (very high). This implies large mortgage risk in Miracle Mile, Tucson, AZ. Investor activity is low, as 7.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 356 |
% Conventional Loans | 59.0% |
% Government Loans | 41.0% |
% Investor Loans | 7.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Miracle Mile, Tucson, AZ
As of 2024, the percent of homes in Miracle Mile, Tucson, AZ under the Section 8 program is 7.7%. 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 Miracle Mile, Tucson, AZ, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,574 |
Total Units Section 8 | 1,031 |
% Rentals under Section 8 | 7.7% |
% Occupied Section 8 | 87.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $71 | $849 | $920 |
| 2 Bedroom | $60 | $1,150 | $1,210 |
| 3 Bedroom | $50 | $1,650 | $1,700 |
| 4 Bedroom | -$110 | $2,100 | $1,990 |
Affordability — Miracle Mile, Tucson, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.1 |
| Median Home Price | $256,000 |
| Median Household Income | $36,600 |