Dallas - TX vs Phoenix - AZ: 2026 Housing Comparison

What this means for buyers

Phoenix - AZ is roughly 23% more expensive than Dallas - TX in typical home value.

Dallas vs Phoenix: what the numbers say

At today's 7.32% average 30-year rate with 20% down, the typical home would cost about $1,969 a month in principal and interest in Dallas and $2,424 in Phoenix, a gap of $455 a month.

Typical rent runs $1,659 in Dallas and $1,720 in Phoenix, so the mortgage payment alone is 1.2 times rent in Dallas and 1.4 times rent in Phoenix, before taxes and insurance.

Home prices are 18.0 years of rent in Dallas and 21.4 in Phoenix; the lower ratio in Dallas means buying there is cheaper relative to renting.

Over the last 23 months typical values moved -5.8% in Dallas and -4.5% in Phoenix; over just the last three months the change was -0.1% in Dallas and -0.4% in Phoenix.

Homes sell for 98.0% of list price in Dallas and 97.9% in Phoenix, after 38 and 38 days on the market, with price cuts on 34% and 32% of listings. The signs are mixed: Dallas has more price cuts, while Phoenix has sales further below list.

The number of homes for sale is down 4% on a year ago in Dallas and up 2% on a year ago in Phoenix.

Payments assume a 30-year fixed loan at the Freddie Mac weekly average rate (2026-10-22), 20% down, principal and interest only. Home values, rents and market figures are Zillow Research metro data.