Phoenix, AZ


Highest Appreciating Phoenix Neighborhoods Since 2000

Phoenix, AZ Real Estate Data

Phoenix Housing Market Information

With 1,563,025 people, 520,856 houses or apartments, and a median cost of homes of $238,418, 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 60.64% of the city's housing units. Other types of housing that are prevalent in Phoenix include large apartment complexes or high rise apartments ( 25.27%), duplexes, homes converted to apartments or other small apartment buildings ( 6.73%), and a few row houses and other attached homes ( 4.26%).

The most prevalent building size and type in Phoenix are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.36% owning and 46.64% renting.

There is a lot of housing in Phoenix 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 Phoenix built between 1940-1969 ( 23.98%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.93%). There's also some housing in Phoenix built before 1939 ( 2.02%).

Vacant housing appears to be an issue in Phoenix. Fully 12.93% of the housing stock is classified as vacant. Left unchecked, vacant Phoenix homes and apartments can be a drag on the real estate market, holding Phoenix real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Phoenix Home Appreciation Rates

Homes have actually lost value in Phoenix over the last then years, as home values have seen a decline of 21.33% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Phoenix home appreciation rates at 2.46%, which equates to an annual appreciation rate of 10.22%.

Appreciation rates are so strong in Phoenix that despite a nationwide downturn in the housing market, Phoenix real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Phoenix appreciation rates continue to be some of the highest in America, at 8.07%, which is higher than appreciation rates in 91.80% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Phoenix. Phoenix appreciation rates in the latest quarter were at 2.46%, which equates to an annual appreciation rate of 10.22%.

Relative to Arizona, our data show that Phoenix's latest annual appreciation rate is higher than 60% 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 2000, to assist you in making the best Phoenix real estate investment or home purchase decisions.

Average Home Values


Median Home Value:


Value Range
> $1,522,000 1.0
$1,141,001 - $1,522,000 0.9
$761,001 - $1,141,000 2.8
$609,001 - $761,000 3.2
$456,001 - $609,000 7.0
$304,001 - $456,000 13.7
$152,001 - $304,000 33.0
$76,001 - $152,000 24.8
$0 - $76,000 13.6

Very High for AZ
High for Nation

Value Relative to Nation Value Relative to State
24.9751127247175 19.4630872483221

Number Of Homes And Apartments:

Rent & Ownership


Average Market Rent:
$1,261 / per month

Homeownership Rate

Owners 53.36
Renters 46.64
Vacant 12.93

Housing Market Details


Age of Homes

2000 or Newer 18.9
1970 - 1999 55.1
1940 - 1969 24.0
1939 or Older 2.0

Types of Homes

Single-Family 60.6
Townhomes 4.3
Small Apt. Buildings 6.7
Apt. Complexes 25.3
Mobile Homes 3.1
Other 0.1

Home Size

No Bedroom 2.94
1 Bedroom 13.92
2 Bedrooms 26.06
3 Bedrooms 35.74
4 Bedrooms 17.61
5 or more bedrooms 3.73

Phoenix Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
64.84% 2.98% 7 8
* 10 is highest