Phoenix, AZ housing market

The latest available asking prices, rents, and inventory, with monthly and yearly trends. Figures describe DoorHunter’s sampled listings in this region, not every home in the city.

Market data as of November 3, 2026

Photo credits · CC BY-SA 3.0

Latest figures & market trends

Latest available listing data as of November 3, 2026. Figures update as new source data arrives.

Current listing figures and completed-month trends for Phoenix, AZ. Changes require matching periods and collection scope.
Metric	Latest
Median asking price	$525,000
Median monthly rent	$2,395
For-sale listings	11,107
Rental listings	4,689

Monthly trends

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Each dot is one completed-month observation, not a monthly average. Lines join consecutive months only when collection scope and calculation version match. Missing months and unavailable values are not connected. The current partial month is excluded. Open monthly history below for exact values.

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Monthly observations for Phoenix, AZ.
Month	Asking price	Monthly rent	For sale	Rentals	Est. cap rate
October 2026	$525,000	$2,400	9,014	3,394	3.25%
September 2026	$529,999	$2,399	5,593	3,973	3.28%
August 2026	$534,000	$2,400	5,447	3,287	3.31%

Up to 12 recent months. Each month uses its last available observation, rather than a monthly average. Missing periods and changes in collection scope stay unavailable; the listing mix can still affect comparisons.

Explore by ZIP code

Find the areas that fit your investment approach. Hover to compare; select a ZIP to see its current figures and trends.

Market area

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Lower relative potentialHigherUnscored

Boundaries: 2020 Census ZIP Code Tabulation Areas, approximations of postal ZIPs. Statistics cover captured listings inside the configured market, which may include only part of a ZIP.

How investment potential is compared

The balanced score weights percentiles within the current listing sample: 50% higher estimated gross rental yield, 25% lower median asking price, and 25% shorter median days on market. Ties receive the same rank. Only ZIPs with at least 5 usable listings for every component are compared; at least two must qualify. This sample floor does not establish statistical confidence.

Listing age is a liquidity proxy, not completed-sale speed. Scores compare this market and date only; they do not measure future returns, neighborhood quality, appreciation, or risk. Individual metric colors use the same relative ranking, with higher yield, lower price, or shorter listing age receiving greener colors.

Gross yields use each for-sale property's modeled monthly rent × 12 ÷ asking price, before expenses or financing. Price and asking-rent medians come from separate listing cohorts.

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Sorted by balanced investment potential. Sample counts appear below each statistic.
Potential	Asking price	Monthly rent	Est. gross yield	Listing age
91 / 100	$320,000n = 91	$1,899n = 29	6.95%n = 79	59 daysn = 56
90 / 100	$312,000n = 298	$1,713n = 46	7.20%n = 295	62 daysn = 210
90 / 100	$346,950n = 36	$1,925n = 18	6.77%n = 35	56 daysn = 20
89 / 100	$335,000n = 77	$1,975n = 25	6.85%n = 70	59 daysn = 49
89 / 100	$360,000n = 68	$1,995n = 55	6.98%n = 61	58 daysn = 35
87 / 100	$360,000n = 87	$1,888n = 22	6.56%n = 86	50 daysn = 59
85 / 100	$335,900n = 35	$2,000n = 10	6.33%n = 34	39 daysn = 28
84 / 100	$370,000n = 122	$1,823n = 6	6.72%n = 122	59 daysn = 76
83 / 100	$343,800n = 9	$1,862n = 12	6.40%n = 9	49 daysn = 8
81 / 100	$357,000n = 64	$1,897n = 14	6.70%n = 61	66 daysn = 55
80 / 100	$349,950n = 118	$1,897n = 52	6.61%n = 108	66 daysn = 75
78 / 100	$357,950n = 142	$1,845n = 23	6.47%n = 129	64 daysn = 80

Showing the entire market in the current figures and trends.

The market at a glance

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Asking rent by bedroom count

Compare the monthly rent of different home sizes.

Studio / 1 bedroom: $1,400
2 bedrooms: $1,950
3 bedrooms: $2,225
4 bedrooms: $2,599
5+ bedrooms: $3,300

Medians from separate bedroom groups, not the same homes. Bedroom-level sample counts are not available.

Captured listing inventory

See the available sale and rental listing samples.

For sale: 11,107
For rent: 4,689

Counts cover captured active listings within the configured search area. They do not measure every available home in the city. Bars start at zero.

Current listing & rental details

Seven views of the region, with source coverage kept visible. Unavailable figures stay unavailable.

Purchase prices

Asking prices for active sale listings. The middle 50% range runs from the 25th to 75th percentile.

Median listing priceSample: 10,889 listings: $525,000
Middle 50% asking-price range: $400,000 to $809,000
Median price per square footSample: 10,889 listings: $280.02 / sq ft

Rental prices

Asking rents from a separate active rental cohort. Bedroom groups include only listings with a usable bedroom count.

Median monthly asking rentSample: 4,688 listings: $2,395
Middle 50% rent range: $2,000 to $2,995
Median monthly rent per square footSample: 4,671 listings: $1.42 / sq ft
Studio / 1 bedroom: $1,400
2 bedrooms: $1,950
3 bedrooms: $2,225
4 bedrooms: $2,599
5+ bedrooms: $3,300

Rental yields

Gross yield and cap rate use paired asking prices and modeled rents for sale listings. Cap rate deducts modeled operating expenses before financing and capital reserves.

Median estimated cap rateSample: 9,449 listings: 3.21%
Median estimated gross rental yieldSample: 9,449 listings: 5.89%
Monthly rent-to-price ratio: 0.46%

Inventory

Counts reflect captured active listings within this region.

Active for-sale listings: 11,107
Active rental listings: 4,689

Listing age

Listing age among active for-sale listings with a usable days-on-market value. This is not time to a completed sale.

Median days on marketSample: 3,649 listings: 70 days
Share listed more than 30 days: 78.65%
Share listed more than 60 days: 55.17%
Share listed more than 90 days: 40.26%

Sales activity

Captured sales are a partial sample of transactions. Months of supply divides active sale listings by captured sales in the last 30 days; zero sales cannot establish supply.

Captured sales, last 30 days: 1,651
Captured sales, last 90 days: 5,492
Median sale price, last 90 daysSample: 5,492 listings: $455,000
Estimated months of supply: 6.73 months
30-day absorption rate: 14.86%

Underwriting scenarios

Medians of individual for-sale property scenarios using each listing’s own asking price and rent estimate. These are modeled results, not observed investment returns.

Median modeled monthly cash flowSample: 9,449 listings: -$1,541
Middle 50% cash-flow range: -$2,471 to -$1,088
Median modeled cash-on-cash return: -17.25%
Median debt-service coverage: 0.48×
Median break-even occupancy: 159.43%
Share with positive modeled cash flow: 0.57%

Scenario assumptions: 20.00% down; 7.50% fixed interest for 30 years; 2.00% closing costs; 5.00% of scheduled rent for capital reserves. Management 10.00%, maintenance 5.00%, and vacancy 5.00% of scheduled rent; annual taxes and insurance 1.50% of asking price. No HOA, rehab, or appreciation is assumed. Break-even occupancy above 100% indicates the scenario cannot cover costs at the modeled rent.

Income, employment & housing

Economic data have not been published for this market yet.

How to read these numbers

Price and rent reflect distinct listing cohorts rather than paired properties. Modeled yields and cap rates apply standard operating expense baselines and exclude individual financing, income taxes, and future capital expenditures.

Compare published markets

Current published markets with the closest median asking prices, ordered by proportional price difference. This is a price comparison, not a ranking of investment quality:

Mesa, AZ· $530,000 median listing price · $2,400 median monthly rent
Madison, WI· $519,900 median listing price · $2,850 median monthly rent
Las Vegas, NV· $519,000 median listing price · $2,299 median monthly rent
Aurora, CO· $537,800 median listing price · $2,860 median monthly rent
Anchorage, AK· $540,000 median listing price · $2,900 median monthly rent

What these medians mean for a rental budget

The price and rent medians describe different listings. Combining them below is a hypothetical sensitivity exercise, not a representative property, observed return, or recommendation.

Using the latest available listing figures, with source data as of November 3, 2026.

At a $525,000 purchase and $2,395 monthly rent, assume 25% down, a 7.5% fixed mortgage for 30 years, 5% vacancy, operating costs equal to 30% of scheduled rent, and a separate 5% capital reserve. These expense and financing assumptions are illustrative, not measured local costs.

Rent collected after vacancy: $2,275
Operating costs: $719
Capital reserve: $120
Monthly principal and interest: $2,753
Illustrative monthly cash flow: -$1,316

Replace the teaching assumptions with actual taxes, insurance, HOA fees, maintenance, vacancy, and loan terms in the rental property cash flow calculator. This example excludes income taxes, appreciation, and acquisition costs.

Local research for Phoenix, AZ

Check the Phoenix short-term rental permit process and any accessory dwelling unit conditions that apply to the address. Verify the relevant county rental registration and tax obligations separately from city permission.

Phoenix short-term rental registry and permit guidance

Official resource checked October 6, 2026. Confirm current requirements with the governing jurisdiction before underwriting a property.

Read the complete data methodology · Understand cap rate and cash-on-cash return

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