Phoenix housing market
Typical home value
$441K
▼ 1.1% 1 yr
Typical rent
$1,720/mo
▲ 1.0% 1 yr
12-month forecast
−1.8%
#536 of 546 metros
Gross rent yield
4.7%
#450 of 546 · U.S. 6.3%
Days to pending
62 days
▼ −2 days 1 yr
Listings with a price cut
32%
▼ −0.3 pts 1 yr
Key takeaways
- 1The typical home is worth $441,097, down 1.1% in a year and up 6% over five years.
- 2Zillow forecasts home values falling 1.8% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,720/mo (+1.0% YoY), a 4.7% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $2,424/mo in principal and interest, $704 more than renting.
- 5Homes go under contract in 62 days (−2 days vs last year); 32% of listings have had a price cut.
Market temperature
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 29/100, #447 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Phoenix compares
| Measure | Phoenix | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | −1.1% | +1.2% | #500 |
| Home value, 5-yr change | +5.7% | +19.7% | |
| 12-month forecast | −1.8% | +1.1% | #536 |
| Rent, 1-yr change | +1.0% | +2.7% | #477 |
| Gross rent yield | 4.7% | 6.3% | #450 |
| Price-to-rent ratio | 21.4 | 15.8 | |
| Mortgage P&I on typical home | $2,424 | $2,012 | |
| Income needed to buy | $111,187 | $100,902 | |
| Days to pending | 62 | 56 |
Cities in the Phoenix metro
27 cities with home value and rent data.
| Phoenix | $404K | ▼ 1.2% | $1,571 | ▲ 1.0% | 4.7% |
| Mesa | $429K | ▼ 0.7% | $1,532 | ▼ 0.1% | 4.3% |
| Chandler | $513K | ▼ 1.2% | $1,893 | ▲ 1.6% | 4.4% |
| Gilbert | $565K | ▼ 0.2% | $2,079 | ▲ 1.2% | 4.4% |
| Glendale | $400K | ▼ 1.2% | $1,511 | ▲ 1.3% | 4.5% |
| Scottsdale | $852K | ▲ 3.4% | $2,114 | ▲ 2.4% | 3.0% |
| Peoria | $480K | ▼ 0.7% | $1,851 | ▲ 1.3% | 4.6% |
| Tempe | $459K | ▼ 0.5% | $1,623 | ▲ 0.7% | 4.2% |
| Surprise | $416K | ▼ 1.7% | $1,942 | ▲ 1.0% | 5.6% |
| Goodyear | $464K | ▼ 0.9% | $1,698 | ▲ 1.6% | 4.4% |
| San Tan Valley | $393K | ▼ 2.4% | $2,009 | ▲ 1.8% | 6.1% |
| Buckeye | $391K | ▼ 1.9% | $1,978 | ▲ 1.4% | 6.1% |
| Avondale | $393K | ▼ 1.2% | $1,658 | ▼ 0.5% | 5.1% |
| Queen Creek | $630K | ▲ 0.2% | $2,229 | ▲ 1.2% | 4.2% |
| Maricopa | $340K | ▼ 3.4% | $1,773 | ▲ 0.5% | 6.3% |
| Casa Grande | $316K | ▼ 1.4% | $1,673 | ▲ 0.9% | 6.4% |
| Apache Junction | $370K | ▼ 1.9% | $1,767 | ▲ 0.4% | 5.7% |
| Sun City | $296K | ▼ 2.1% | $1,791 | ▼ 0.4% | 7.3% |
| Tolleson | $388K | ▼ 1.8% | $2,021 | ▲ 2.0% | 6.2% |
| El Mirage | $338K | ▼ 1.6% | $1,897 | ▼ 2.3% | 6.7% |
| Litchfield Park | $515K | ▲ 0.1% | $2,103 | ▲ 1.3% | 4.9% |
| Florence | $328K | ▼ 2.2% | $1,796 | ▲ 1.5% | 6.6% |
| Sun City West | $375K | ▼ 1.5% | $1,898 | ▲ 12.2% | 6.1% |
| Fountain Hills | $659K | ▲ 1.3% | $2,332 | ▲ 2.7% | 4.2% |
| Anthem | $558K | ▼ 0.9% | $2,532 | ▲ 2.6% | 5.4% |
| Coolidge | $263K | ▼ 0.7% | $1,575 | ▲ 0.8% | 7.2% |
| Paradise Valley | $3.59M | ▲ 12.0% | $2,069 | ▲ 0.8% | 0.7% |
Run the numbers
Rental property calculator
Cash flow on a typical Phoenix rental ($441K, $1,720/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Phoenix home.
Rent vs buy
Is it cheaper to rent or buy in Phoenix?
Other Arizona metros
Tucson, AZ
$336K home$1,488 rent5.3% yield
▼ 1.8% 1 yr
Lake Havasu City, AZ
$350K home$1,540 rent5.3% yield
▲ 2.0% 1 yr
Yuma, AZ
$277K home$1,424 rent6.2% yield
▲ 0.4% 1 yr
Flagstaff, AZ
$619K home$2,128 rent4.1% yield
▲ 0.2% 1 yr
Sierra Vista, AZ
$261K home$1,278 rent5.9% yield
▼ 0.4% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.