Market Trends, Neighborhoods & Living Guide
Tempe AZ Real Estate
Tempe, Arizona is more than just a suburb of Phoenix. It is a fast-growing city with a strong housing market, walkable neighborhoods, a vibrant downtown, and easy access to top schools, employers and is home to Arizona State University. Whether you are buying your first home or looking to invest in rental property, Tempe offers a smart mix of lifestyle and opportunity.
Tempe Housing Market Overview
The 2025 housing market in Tempe remains active and relatively balanced. Inventory has improved slightly, while buyer interest is steady.
Key Stats for Tempe, AZ
- Median home price is around $495,000
- Average price per square foot is approximately $328
- Homes stay on the market for about 34 days
- Prices are up roughly 2.7% compared to last year
Condos near downtown are popular among first-time buyers and investors. Families are looking toward larger homes in South Tempe. Townhomes are gaining traction for buyers seeking low-maintenance living with more space.
186,000
Total Population
29.2
Median Age
$72,693
Median Income
$495,000
Median Home Value
PROPERTY LISTINGS
Featured Properties
PENDING
$929,900
1450 S. Los Altos Chandler AZ 85248
- 4 Beds
- 2.5 Baths
- 2949 Sq. Ft.
SOLD
$3,850,000
611 N. Tamarisk St. Chandler, AZ 85224
- 5 Beds
- 7.5 Baths
- 6,932 Sq. Ft.
SOLD
$1,200,000
5236 E Barwick Dr. Cave Creek, AZ 85331
- 4 Beds
- 3.5 Baths
- 3,755 Sq. Ft.
Popular Neighborhoods in Tempe
Tempe has something for everyone. Here are the most searched areas:
Downtown Mill Avenue
Urban and walkable with condos, lofts, and access to shopping, dining, and nightlife.
North Tempe
Close to Tempe Town Lake and the 202 freeway. This area has newer builds and luxury apartments.
South Tempe
Family-friendly with larger single-family homes, parks, and top schools.
Culdesac Tempe
A unique car-free community focused on walkability, sustainability, and tech-enabled housing.
Each neighborhood has a different lifestyle, price point, and housing style. That makes it easy to match your budget and preferences.
Living in Tempe
Tempe offers an active lifestyle with plenty to do and see.
- Tempe Town Lake is perfect for kayaking, biking, and weekend events
- Tempe Center for the Arts hosts concerts, plays, and art exhibitions
- Mill Avenue is packed with restaurants, bars, and local boutiques
- The Arizona State University campus adds energy, culture, and education options
Tempe is known for its mix of city energy and suburban comfort, making it ideal for young professionals, families, and investors.
Transportation and Commute
Tempe is one of the most transit-friendly cities in Arizona. You can easily live here without a car.
- The Valley Metro Streetcar opened in 2022 and runs through downtown and the ASU campus. It is free to ride until August 2025
- Orbit neighborhood shuttles are free and connect residential areas to business hubs
- Tempe has high walkability and bike scores compared to nearby cities
- Major highways like Loop 101 and 202 make it easy to reach Phoenix, Mesa, and Scottsdale
Schools and Demographics
Tempe has a strong education system and a young, diverse population.
Population is about 186,000
Median age is around 29
Median household income is approximately $72,000
Schools are served by the Tempe Union High School District and the Kyrene School District
Access to Arizona State University and multiple charter schools
Families benefit from both public and private school options, while students and faculty contribute to a stable rental market.
Investment and Rental Market Insights
Tempe is a strong market for long-term investors. It consistently ranks as one of the best cities in Arizona for rental demand.
ASU creates a high need for student housing
North Tempe and University Heights show strong rental yields
Home values have appreciated steadily over the past five years
New developments continue to support population growth
Whether you plan to rent out your property or hold for appreciation, Tempe is a solid investment.
Mortgage Calculator
Use this mortgage calculator to estimate your monthly payment based on home price, down payment, interest rate, and loan term. Adjust the inputs to see how different factors affect your estimated cost.
Frequently Asked Questions
Is Tempe a good place to live?
Yes. Tempe is considered one of the most livable cities in the phoenix area, offering a mix of walkable neighborhoods, great dining, access to jobs, and a vibrant university scene. It appeals to families, professionals, and investors alike.
What is the average home price in Tempe AZ right now?
Currently, the average home price in Tempe is around $495,000. Condos near downtown or ASU can start in the low 300s, while single-family homes range from $500,000 to $750,000 depending on the neighborhood.
How competitive is the Tempe real estate market?
The market is steady and competitive. Homes that are priced correctly and located near downtown or high-demand areas typically sell within two to three weeks.
Are there good neighborhoods for families in Tempe?
Yes. South Tempe is especially popular with families thanks to its larger homes, good school districts, parks, and quiet, residential feel.
Is Tempe a good city for real estate investment?
Absolutely. Tempe's combination of rental demand from students and professionals, steady appreciation, and central location make it one of the best cities in the Valley for long-term property investment.
Why Choose Phoenix Homes for Tempe Real Estate
At Phoenix Homes, we offer local insight, market data, and a hands-on approach. Our team lives and works in the Phoenix and surrounding areas.
We offer curated listings and personal guidance
You get honest advice and clear communication
Buyers and sellers continue to trust us for successful results
From our initial consultation and first showing, to the final signature at closing, we will help guide you through the buying or selling process to make good sound real estate decisions.
Bryan Staley
With over 30 years in Arizona real estate, Bryan Staley has guided buyers and sellers through every market cycle since 1992. Recognized among the top 1% of agents nationwide, he combines deep local knowledge of Gilbert neighborhoods with strong relationships built over decades with homebuilders, contractors, and fellow realtors. As an Associate Broker with CRS, GRI, and ABR designations—a distinction held by just 4% of realtors—Bryan’s approach is rooted in listening first, acting with integrity, and putting his clients’ best interests above all else.
Considering a move to Tempe AZ?
At Phoenix Homes we are ready to help you explore neighborhoods, compare listings, negotiate on your behalf and assist you in making good confident real estate decisions.
Contact us today to get started!
