Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$416,733−1.0% YoY · prices are falling
Market right nowBuyer's marketMore homes for sale than last year, 26% have cut their price
Income needed to buy, per year$90,339About 1.1× the local median income ($81,404): a stretch for a typical household
Days on market64 daysAbout the same pace as a year ago
Next 12 months−1.5%Zillow expects prices to dip slightly
The typical home in Arizona is worth $416,733, down 1.0% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $390,883, so the area is 6.6% overvalued. It is a buyer's market: homes take about 64 days to sell, listings are up 9% from a year ago, 26% of listings have had a price cut. Zillow expects prices to fall about 1.5% over the next year. A household needs about $90,339 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 $81,404. In the latest IRS figures, 26,712 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
$416,733
Change in 1 year
−1.0%
Overvalued %
+6.6%
Show 7 more
Fair home value
$390,883
Change in 5 years
+6.9%
Zillow forecast, next 12 months
−1.5%
Home value to income
5.1×
Monthly mortgage payment (20% down)
$2,258
Income needed to afford it
$90,339
Property tax rate
0.48%
Rent and investing
HUD Fair Market Rent, 2 bedrooms
$1,617
Market activity
Listings vs a year ago
+9.1%
Days on market
64
Listings with a price cut
26.2%
Show 3 more
Homes for sale
32,340
Pending sales per 100 listings
25
Asking price per sq ft
$260
People and jobs
Median household income
$81,404
Population change (1 year)
+0.9%
Unemployment rate
5.1%
Show 4 more
Population
7,623,818
Income adjusted for cost of living
$80,838
Net moves in (IRS)
+26,712
Cost of living (US = 100)
100.7
Schools, risk and environment
FEMA hazard risk score (0 to 100)
97.7
Unhealthy air days a year
28
Flood risk score
98.2
Show 3 more
Wildfire risk score
98.1
Walkability (1 to 20)
9.9
Road, rail and air noise
54 dB
Questions people ask
Is Arizona overvalued?
Home prices in Arizona are slightly above what local incomes have historically supported: fair value is about $390,883, so the area is 6.6% overvalued.
Is Arizona a buyer's or seller's market?
Arizona is a buyer's market: homes take about 64 days to sell, listings are up 9% from a year ago, 26% of listings have had a price cut.
Are home prices going down in Arizona?
Home values in Arizona are down 1.0% over the last year. Zillow's forecast for the next 12 months is −1.5%.
How much do you need to earn to buy a home in Arizona?
A household needs about $90,339 a year to afford the typical home in Arizona at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $81,404.