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Scottsdale, 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 Q3 2022. 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

Scottsdale, AZ Housing Market Trends

With 242,753 people, 117,974 houses or apartments, and a median cost of homes of $772,940, Scottsdale house prices are not only among the most expensive in Arizona, Scottsdale real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Scottsdale, accounting for 53.85% of the city's housing units. Other types of housing that are prevalent in Scottsdale include large apartment complexes or high rise apartments ( 28.36%), row houses and other attached homes ( 11.09%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.64%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Scottsdale. Owner-occupied housing accounts for 66.07% of Scottsdale's homes, and 51.10% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Scottsdale 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 Scottsdale built between 2000 and later ( 21.79%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.88%).

Vacant housing appears to be an issue in Scottsdale. Fully 15.24% of the housing stock is classified as vacant. Left unchecked, vacant Scottsdale homes and apartments can be a drag on the real estate market, holding Scottsdale 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.

Scottsdale Home Appreciation Rates

In the last 10 years, Scottsdale has experienced some of the highest home appreciation rates of any community in the nation. Scottsdale real estate appreciated 154.90% over the last ten years, which is an average annual home appreciation rate of 9.81%, putting Scottsdale in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Scottsdale 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 Scottsdale that despite a nationwide downturn in the housing market, Scottsdale real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Scottsdale appreciation rates continue to be some of the highest in America, at 19.66%, which is higher than appreciation rates in 86.96% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Scottsdale. Scottsdale appreciation rates in the latest quarter were at 4.94%, which equates to an annual appreciation rate of 21.28%.

Relative to Arizona, our data show that Scottsdale's latest annual appreciation rate is higher than 70% 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 Scottsdale differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Scottsdale - 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 Scottsdale real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$772,940

Scottsdale, AZ HOME PRICES

> $1,640,000
$1,230,001 - $1,640,000
$820,001 - $1,230,000
$656,001 - $820,000
$492,001 - $656,000
$328,001 - $492,000
$164,001 - $328,000
$82,001 - $164,000
$0 - $82,000
11.4%
11.4%
11.3%
11.3%
21.8%
21.8%
15.8%
15.8%
16.4%
16.4%
13.9%
13.9%
6.7%
6.7%
1.6%
1.6%
1.1%
1.1%
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:
117,974

Scottsdale Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AZ*
Compared To
America*
Latest Quarter:
2022 Q2 - 2022 Q3
Last 12 Months:
2021 Q3 - 2022 Q3
Last 2 Years:
2020 Q3 - 2022 Q3
Last 5 Years:
2017 Q3 - 2022 Q3
Last 10 Years:
2012 Q3 - 2022 Q3
Since 2000:
2000 Q1 - 2022 Q3
243.27% 5.57%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,201 / per month

Homeownership Rate

Owners
Renters
Vacant
66.1%
66.1%
33.9%
33.9%
15.2%
15.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
21.8%
21.8%
63.2%
63.2%
14.9%
14.9%
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
53.9%
53.9%
11.1%
11.1%
5.6%
5.6%
28.4%
28.4%
0.9%
0.9%
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.0%
2.0%
10.3%
10.3%
30.9%
30.9%
31.6%
31.6%
19.5%
19.5%
5.7%
5.7%
0.0% 100.0%
% OF HOMES