Paradise Valley, AZ Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Paradise Valley, AZ Housing Market Trends

With 12,658 people, 5,798 houses or apartments, and a median cost of homes of $2,197,669, Paradise Valley house prices are not only among the most expensive in Arizona, Paradise Valley real estate also is some of the most expensive in all of America.

Paradise Valley is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Paradise Valley than is found in 98% of the communities in America.

The large homes that make up Paradise Valley are primarily owner-occupied ( 93.75%).

There is a lot of housing in Paradise Valley built from 1970 to 1999 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 Paradise Valley built between 2000 and later ( 22.66%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.63%).

Paradise Valley Home Appreciation Rates

In the last 10 years, Paradise Valley has experienced some of the highest home appreciation rates of any community in the nation. Paradise Valley real estate appreciated 111.26% over the last ten years, which is an average annual home appreciation rate of 7.77%, putting Paradise Valley in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Paradise Valley definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Paradise Valley that despite a nationwide downturn in the housing market, Paradise Valley real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Paradise Valley appreciation rates continue to be some of the highest in America, at 32.91%, which is higher than appreciation rates in 98.79% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Paradise Valley. Paradise Valley appreciation rates in the latest quarter were at 11.78%, which equates to an annual appreciation rate of 56.10%.

Importantly, this makes Paradise Valley one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Arizona, our data show that Paradise Valley's latest annual appreciation rate is higher than 60% of the other cities and towns in Arizona.

Average Home Values

 

Median Home Value:
$2,197,669

Paradise Valley, AZ HOME PRICES

> $1,382,000
75.9%
75.9%
$1,036,001 - $1,382,000
14.7%
14.7%
$691,001 - $1,036,000
3.0%
3.0%
$553,001 - $691,000
0.7%
0.7%
$415,001 - $553,000
2.6%
2.6%
$276,001 - $415,000
1.1%
1.1%
$138,001 - $276,000
1.2%
1.2%
$69,001 - $138,000
0.2%
0.2%
$0 - $69,000
0.7%
0.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for AZ

Value Relative To Nation

Number Of Homes And Apartments:
5,798

Paradise Valley Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AZ*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
179.17% 4.78%
6
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,268 / per month

Homeownership Rate

Owners
93.8%
93.8%
Renters
6.2%
6.2%
Vacant
10.0%
10.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
22.7%
22.7%
1970 - 1999
56.6%
56.6%
1940 - 1969
20.6%
20.6%
1939 or Older
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
98.3%
98.3%
Townhomes
1.0%
1.0%
Small Apt. Buildings
0.2%
0.2%
Apt. Complexes
0.6%
0.6%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.3%
0.3%
1 Bedroom
0.8%
0.8%
2 Bedrooms
4.4%
4.4%
3 Bedrooms
22.3%
22.3%
4 Bedrooms
47.5%
47.5%
5 or more bedrooms
24.8%
24.8%
0.0% 100.0%
% OF HOMES