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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 175,826, 64,810 total housing units (homes and apartments), and a median house value of $254,520, Tempe real estate is some of the most expensive in Arizona, although Tempe home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Tempe, accounting for 42.59% of the city's housing units. Other types of housing that are prevalent in Tempe include large apartment complexes or high rise apartments ( 39.51%), row houses and other attached homes ( 7.71%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.33%).
People in Tempe primarily live in small (one, two or no bedroom) single-family detached homes. Tempe has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Tempe 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 Tempe built between 1940-1969 ( 17.85%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.63%).
Vacant housing appears to be an issue in Tempe. Fully 11.08% of the housing stock is classified as vacant. Left unchecked, vacant Tempe homes and apartments can be a drag on the real estate market, holding Tempe 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.
Tempe's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Tempe during the period has been just -0.91%, which is lower than 70% of US communities.
Appreciation rates are so strong in Tempe that despite a nationwide downturn in the housing market, Tempe real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tempe appreciation rates continue to be some of the highest in America, at 9.31%, which is higher than appreciation rates in 91.77% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tempe. Tempe appreciation rates in the latest quarter were at 2.04%, which equates to an annual appreciation rate of 8.40%.
Importantly, this makes Tempe one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Arizona, our data show that Tempe'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 Tempe differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Tempe - 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 Tempe real estate investment or home purchase decisions.
|$1,037,001 - $1,383,000||0.6|
|$691,001 - $1,037,000||3.5|
|$553,001 - $691,000||2.7|
|$415,001 - $553,000||10.3|
|$276,001 - $415,000||25.9|
|$138,001 - $276,000||41.0|
|$69,001 - $138,000||8.8|
|$0 - $69,000||6.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Tempe HOMES|
|2000 or Newer||12.6|
|1970 - 1999||68.9|
|1940 - 1969||17.8|
|1939 or Older||0.7|
|TYPE OF Tempe HOMES|
|Small Apt. Buildings||7.3|
|SIZE OF Tempe HOMES|
|5 or more bedrooms||2.88|