Phoenix - AZ housing market
The Phoenix metro has a typical home value of $441,097, down 1.1% from a year ago. Homes sell in 38 days on average, a balanced market. 32% of listings have had a price cut. Data from Zillow Research, updated monthly.
Phoenix housing market, October 2026
The typical Phoenix home is worth $441,097 as of September 2026, down 0.1% from the prior month, down 0.4% over three months, and down 1.1% from a year ago. Over the past two years values have ranged from $441,097 to $462,021.
Homes are going pending in about 38 days, slower than the 34 days seen three months earlier. There are roughly 23,620 homes for sale, 2% more than a year ago. 32.0% of listings have taken a price cut (down from 33.3% three months ago).
Typical rent is $1,720 a month, up 1.2% year over year, which puts the price-to-rent ratio at 21.4.
At this week's 7.40% mortgage rate with 20% down ($88,219), the typical Phoenix home costs about $2,995 a month including tax and insurance, which needs a household income of roughly $128,300 to stay under a 28% payment-to-income ratio.
Income needed to buy assumes 20% down, a 30-year fixed mortgage at 7.4% (Freddie Mac weekly average), property tax at 1.1% and insurance at 0.4% of value per year, and a 28% payment-to-income cap. Local taxes and insurance vary; treat it as a comparison figure across metros, not a lender's answer. All metros ranked →
How to read this data
The typical home value ($441,097) is the Zillow Home Value Index for the Phoenix - AZ metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.
Prices are down 1.1% over the past year. A home worth $446,003 last year is now worth roughly $441,097.
The median sale price, what homes actually close for, is $445,128. Homes are selling at 97.9% of list price, meaning buyers have room to negotiate.
Homes listed in Phoenix - AZ sit on the market for roughly 38 days before going pending. Shorter = seller's market; longer = buyer's market.
About 32.0% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 6,169 new listings hit the market each month in Phoenix - AZ. There are currently 23,620 homes for sale, up 2.0% from a year ago.
The typical monthly rent in Phoenix - AZ is $1,720, up 1.2% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 21.4x, renting territory (#32 of 195 metros). The mortgage on a typical home here, 20% down at today's 7.4% 30-year rate, runs about $2,443 a month in principal and interest, $723 more than renting before taxes, insurance and upkeep. The two break even at a 4.17% rate.
What's not on this page
This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.
Data: Zillow Research (ZHVI and market indicators), refreshed monthly at the source. This page was rebuilt October 2026. Methodology →
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Other metros in AZ
| Metro | Home value | 1-yr change | Days on market |
|---|---|---|---|
| Tucson - AZ | $335,747 | -1.8% | 36.0d |