Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$441,097−1.1% YoY · prices are falling
Market right nowBuyer's marketMore homes for sale than last year, 30% have cut their price
Income needed to buy, per year$95,621About 1.1× the local median income ($90,011): a stretch for a typical household
Days on market59 daysAbout the same pace as a year ago
Next 12 months−1.8%Zillow expects prices to dip slightly
The typical home in Phoenix-Mesa-Chandler, AZ is worth $441,097, down 1.1% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $415,131, so the area is 6.3% overvalued. It is a buyer's market: homes take about 59 days to sell, listings are up 10% from a year ago, 30% of listings have had a price cut. Zillow expects prices to fall about 1.8% over the next year. A household needs about $95,621 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $90,011. Typical rent is $1,720 a month, or $2,302 for a house. In the latest IRS figures, 17,909 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$441,097
Change in 1 year
−1.1%
Overvalued %
+6.3%
Show 7 more
Fair home value
$415,131
Change in 5 years
+5.7%
Zillow forecast, next 12 months
−1.8%
Home value to income
4.9×
Monthly mortgage payment (20% down)
$2,391
Income needed to afford it
$95,621
Property tax rate
0.44%
Rent and investing
Typical rent
$1,720
Typical rent for houses
$2,302
Price-to-rent ratio
21.4×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,734
Gross rental yield
4.68%
Cap rate (estimate)
3.04%
Market activity
Listings vs a year ago
+9.6%
Days on market
59
Listings with a price cut
29.5%
Show 3 more
Homes for sale
20,646
Pending sales per 100 listings
25
Asking price per sq ft
$264
People and jobs
Median household income
$90,011
Population change (1 year)
+1.1%
Unemployment rate
4.7%
Show 4 more
Population
5,228,938
Income adjusted for cost of living
$87,136
Net moves in (IRS)
+17,909
Cost of living (US = 100)
103.3
Schools, risk and environment
School rating (1 to 10)
6.5
FEMA hazard risk score (0 to 100)
99.3
Unhealthy air days a year
38
Show 4 more
Flood risk score
99.5
Wildfire risk score
99.4
Walkability (1 to 20)
10.6
Road, rail and air noise
54 dB
Questions people ask
Is Phoenix-Mesa-Chandler, AZ overvalued?
Home prices in Phoenix-Mesa-Chandler, AZ are slightly above what local incomes have historically supported: fair value is about $415,131, so the area is 6.3% overvalued.
Is Phoenix-Mesa-Chandler, AZ a buyer's or seller's market?
Phoenix-Mesa-Chandler, AZ is a buyer's market: homes take about 59 days to sell, listings are up 10% from a year ago, 30% of listings have had a price cut.
Are home prices going down in Phoenix-Mesa-Chandler, AZ?
Home values in Phoenix-Mesa-Chandler, AZ are down 1.1% over the last year. Zillow's forecast for the next 12 months is −1.8%.
How much do you need to earn to buy a home in Phoenix-Mesa-Chandler, AZ?
A household needs about $95,621 a year to afford the typical home in Phoenix-Mesa-Chandler, AZ at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $90,011.