Home Values

Arizona Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$185,500

  • 3.7% 1-year change
  • 4.7% 1-year forecast

The median home value in Arizona is $185,500. Arizona home values have gone up 3.7% over the past year and Zillow predicts they will rise 4.7% within the next year. The median list price per square foot in Arizona is $122. The median price of homes currently listed in Arizona is $225,000 while the median price of homes that sold is $196,375. The median rent price in Arizona is $1,100.

Foreclosures will be a factor impacting home values in the next several years. In Arizona 4.3 homes are foreclosed (per 10,000). This is the same as the national value of 4.3

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Arizona is 4.0%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Arizona homeowners underwater on their mortgage is 21.3%.

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Relative ZHVI
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Arizona Market Overview

Data through Aug 31, 2014
  • $185,500 ZHVI
  • 4.7% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Aug 31, 2015)
  • $225,000 Median listing price
  • $196,375 Median sale price
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Arizona Market Health

Data through Aug 31, 2014
  • 1.9/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No recent data Average days on Zillow
  • 21.3% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 4.0% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

4.3 homes Arizona
4.3 homes United States
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Cities in Arizona

Name Median ZHVI
Scottsdale $370,700
Gilbert $260,500
Chandler $246,300
Name Median ZHVI
Tempe $219,700
Peoria $212,400
Mesa $179,900
Name Median ZHVI
Glendale $170,100
Phoenix $164,900
Tucson $135,500

Listings & Sales

Data through Aug 31, 2014
  • $122 Median list price / sq ft
  • $115 Median sale price / sq ft
  • 41.5% Listings with price cut
20.3%
Sold below listing
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Arizona Rentals

Data through Aug 31, 2014
  • Zillow Rent Index

  • $1,177 Arizona
    $1,328 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • No data Breakeven horizon
  • $1,100 Rent list price
  • $0.77 Rent list price / sq ft
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