Phoenix appreciation rates and housing market information

Phoenix housing market information

With a population of 1,320,994, 495,793 total housing units (homes and apartments), and a median house value of $210,449, Phoenix real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Phoenix, accounting for 57.60% of the city's housing units. Other types of housing that are prevalent in Phoenix include large apartment complexes or high rise apartments (26.68%), duplexes, homes converted to apartments, or other small apartment buildings (6.08%), row houses and other attached homes (5.24%), and a few mobile homes or trailers (4.17%).

People in Phoenix primarily live in small (one, two, or no bedroom) single-family detached homes. Phoenix has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Phoenix built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Phoenix built from 1940-1969 (29.49%). A lesser amount of the housing stock also hails from 1995 and later (12.50%), and some were built from 1939 and earlier (12.50%).

Phoenix home appreciation rates

Real estate appreciation rates in Phoenix have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.52% during the period.

Over the last year, Phoenix appreciation rates have trailed the rest of the nation. In the last twelve months, Phoenix's appreciation rate has been -17.81%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Phoenix were at -1.43%, which equates to an annual appreciation rate of -5.72%.

Notably, Phoenix's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Arizona, our data show that Phoenix's latest annual appreciation rate is higher than 9% of the other cities and towns in Arizona.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Phoenix differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Phoenix - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Phoenix real estate investment or home purchase decisions.