Arizona Housing Market Trends
Real-time market data powered by Zillow Research. Last updated: 2026-03-03
Is Now a Good Time to Buy in Arizona?
The Arizona housing market is showing balanced conditions.
home values have declined 2.6% over the past year, which means more negotiating power for buyers. there are currently 3,284 homes on the market.
Median Home Value
$417,540
Zillow Home Value Index
Year-over-Year
-2.6%
Home value change
5-Year Change
+30.2%
Since 2021
Median Rent
$1,639/mo
Zillow Observed Rent Index
Active Listings
3,284
Homes for sale
Home Value Trends
5-year Zillow Home Value Index (ZHVI) for Arizona vs. national average. ZHVI reflects the typical home value in the 35th-65th percentile range.
Rent Trends
Average rent in Arizona: $1,639/mo (+1.3% YoY)
Rent vs. Buy Analysis
With a median home value of $417,540 and average rent of $1,639/mo, the price-to-rent ratio in Arizona is 21.2. A ratio above 21 suggests renting may be more cost-effective.
Run Full Rent vs. Buy CalculatorTop Markets in Arizona
Explore housing data for 10 metro areas in Arizona. Click any market for detailed trends and analysis.
Flagstaff, AZ
$611,594
Avg rent: $2,153/mo
Phoenix, AZ
$442,406
Avg rent: $1,718/mo
Show Low, AZ
$386,038
Avg rent: $1,896/mo
Payson, AZ
$376,718
Avg rent: $1,778/mo
Lake Havasu City, AZ
$342,021
Avg rent: $1,510/mo
Tucson, AZ
$338,249
Avg rent: $1,465/mo
Safford, AZ
$295,566
Avg rent: $1,744/mo
Yuma, AZ
$279,448
Avg rent: $1,381/mo
Nogales, AZ
$272,159
Avg rent: $1,433/mo
Sierra Vista, AZ
$256,044
Avg rent: $1,311/mo
Continue Learning About Arizona
Market data provided by Zillow Research. Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) are trademarks of Zillow, Inc.