Tempe, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Tempe, AZ Real Estate Data


Tempe Housing Market Information

With 175,826 people, 63,523 houses or apartments, and a median cost of homes of $270,981, 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 43.32% of the city's housing units. Other types of housing that are prevalent in Tempe include large apartment complexes or high rise apartments ( 38.77%), duplexes, homes converted to apartments or other small apartment buildings ( 8.02%), and a few row houses and other attached homes ( 7.13%).

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 ( 17.41%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.30%).

Vacant housing appears to be an issue in Tempe. Fully 11.29% 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 Home Appreciation Rates

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 -1.45%, which is lower than 80% 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 8.28%, which is higher than appreciation rates in 92.90% 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 2.46%, which equates to an annual appreciation rate of 10.22%.

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.

Average Home Values

 

Median Home Value:
$270,981

Tempe, AZ HOME PRICES

Value Range
> $1,406,000 0.4
$1,054,001 - $1,406,000 0.5
$703,001 - $1,054,000 3.1
$562,001 - $703,000 2.3
$422,001 - $562,000 9.1
$281,001 - $422,000 25.1
$141,001 - $281,000 41.4
$70,001 - $141,000 10.0
$0 - $70,000 8.0

Very High for AZ
High for Nation

Value Relative to Nation Value Relative to State
20.1089184282954 14.7651006711409

Number Of Homes And Apartments:
63,523

Rent & Ownership

 

Average Market Rent:
$1,412 / per month

Homeownership Rate

Homeownership
Owners 40.13
Renters 59.87
Vacant 11.29

Housing Market Details

 

Age of Homes

AGE OF Tempe HOMES
2000 or Newer 12.3
1970 - 1999 69.7
1940 - 1969 17.4
1939 or Older 0.6

Types of Homes

TYPE OF Tempe HOMES
Single-Family 43.3
Townhomes 7.1
Small Apt. Buildings 8.0
Apt. Complexes 38.8
Mobile Homes 2.7
Other 0.0

Home Size

SIZE OF Tempe HOMES
No Bedroom 6.40
1 Bedroom 14.33
2 Bedrooms 31.14
3 Bedrooms 29.41
4 Bedrooms 15.81
5 or more bedrooms 2.92

Tempe Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AZ*
Compared To
America*
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
75.30% 3.36% 8 9
* 10 is highest