Phoenix housing market: home prices, trends and forecast
Phoenix home prices: in September 2026 the Zillow Home Value Index put the typical value of a home in Phoenix, Arizona at $404,067, −1.2% against a year earlier and −11.5% beneath the $456,678 peak of July 2022.
- Value of the typical home
- $404,067September 2026, Zillow ZHVI
- Change over 12 months
- −1.2%. Measured against September 2025.
Phoenix home prices since 2000
Phoenix is the steel line, and the United States the grey one. Phoenix's typical home went from $117,160 in January 2000 to $404,067, a multiple of ×3.45. Over those same months, the US reached ×2.99. The boom high was $258,376 in July 2006; the low came in November 2011 at $102,524, −60.3%.
Median home price by year in Phoenix
Each yearly figure averages the twelve monthly values, and 2026 shows the most recent month.
| Year | Phoenix | Change on the year | United States |
|---|---|---|---|
| 2000 | $120,692 | $125,745 | |
| 2001 | $129,387 | +7.2% | $134,899 |
| 2002 | $136,871 | +5.8% | $144,276 |
| 2003 | $144,499 | +5.6% | $155,308 |
| 2005 | $202,062 | $189,732 | |
| 2006 | $252,683 | +25.1% | $206,531 |
| 2007 | $246,116 | −2.6% | $208,449 |
| 2008 | $201,710 | −18.0% | $195,574 |
| 2009 | $144,223 | −28.5% | $177,542 |
| 2010 | $123,267 | −14.5% | $171,462 |
| 2011 | $105,176 | −14.7% | $162,508 |
| 2012 | $116,412 | +10.7% | $161,137 |
| 2013 | $152,744 | +31.2% | $171,420 |
| 2014 | $175,083 | +14.6% | $182,996 |
| 2015 | $187,487 | +7.1% | $192,738 |
| 2016 | $209,220 | +11.6% | $204,509 |
| 2017 | $225,783 | +7.9% | $216,767 |
| 2018 | $244,277 | +8.2% | $230,541 |
| 2019 | $260,472 | +6.6% | $242,088 |
| 2020 | $288,245 | +10.7% | $257,151 |
| 2021 | $359,217 | +24.6% | $295,959 |
| 2022 | $436,778 | +21.6% | $340,014 |
| 2023 | $415,802 | −4.8% | $348,160 |
| 2024 | $428,585 | +3.1% | $359,751 |
| 2025 | $414,541 | −3.3% | $362,959 |
| September 2026 | $404,067 | −1.2% | $366,157 |
What a home bought in Phoenix in any year is worth now
An index-based estimate of a typical home, not an appraisal.
Each year's figure averages its twelve monthly index values, and the current value is September 2026. Other options include the home appreciation calculator.
Are you thinking of selling? See how local agents compare on Realtor.com. Advertising disclosure: links like this one may pay the site, and that payment never changes a number. Disclosure.
Phoenix housing market forecast
For the Phoenix, AZ metro, Zillow's forecast is −1.8% for the 12 months that start in September 2026, and 0% for the next three months. Put that forecast on Phoenix's typical value of $404,067 and it lands near $396,800 in a year.
This forecast repeats Zillow's central estimate for the metro; the site publishes none of its own. Forecasts of this kind over 12 months have typically been off by several percentage points from the realised change, in both directions. This is not investment advice.
All metro forecasts in one table: housing market forecast.
Phoenix housing market crash risk score
75 out of 100, high
Phoenix is ranked against the 292 cities using five conditions that were high before earlier price falls. Every input sits on a scale from 0 to 100 when compared with the other cities, and the five scores carry equal weight in the average. Current conditions are what it describes; no crash prediction is offered.
| Input | Value | Sub-score | Weight |
|---|---|---|---|
| Active listings vs 2019 | +43.7% | 86 | 20% |
| Days on the market vs 2019 | +44.2% | 94 | 20% |
| Price-to-rent ratio | 21.4 | 67 | 20% |
| Price-to-income ratio | 4.7 | 46 | 20% |
| 12-month price change | −1.2% | 80 | 20% |
It is not investment advice. How the inputs get scored: methodology. Every one of the 292 cities, ranked by crash risk: city crash risk ranking.
Phoenix inventory and how long listings stay on the market
In September 2026 the Phoenix, AZ metro counted 18,437 homes for sale, +7.5% versus a year earlier and +43.7% versus the same month of 2019. The median listing sold in 62 days (+44.2% versus 2019), and 29.0% of listings carried a price cut.
| Phoenix, AZ metro, September 2026 | Value | On a year |
|---|---|---|
| Active listings | 18,437 | +7.5% |
| New listings | 7,322 | |
| Median days on market | 62 | −4.7% |
| Median list price | $475,000 | −4.8% |
| Share with a price cut | 29.0% |
Metro inventory from Realtor.com® Economic Research. Realtor.com data For every metro: days on market by city.
What it costs to live in Phoenix
Asking rents typically run $1,571 a month in Phoenix, +1.0% on a year, per the Zillow Observed Rent Index. A typical home's price equals 21.4 years of that rent. Median household income: $85,246 (Census ACS 2024), which makes the typical home 4.7 times annual income. According to BEA, price levels in the metro stand at 103.3, where the US average is 100, while the housing cost index is 121.2.
The salary needed to move there, plus rent and prices: cost of living in Phoenix.
Other Arizona housing markets
- Tucson housing market $318,760.
- Mesa housing market $428,871.
- Scottsdale housing market $851,746.
- Yuma housing market $293,382.
- Flagstaff housing market $650,175.
- Lake Havasu City $459,245
- Prescott housing market $592,855.
- Sedona housing market $891,380.
The state as a whole: Arizona housing market.
How to read this chart
Every point plots the Zillow Home Value Index for Phoenix. That index tracks what a typical home in the market's middle third is worth, in dollars for that month, smoothed and seasonally adjusted. A hollow dot marks the month picked on the slider, and the terracotta dot shows the latest month. Inflation is not adjusted for in these figures, and an index tracks the typical home rather than one given house. To value a single home, use the card above or the home appreciation calculator with the price that home sold for.