Phoenix-area housing conditions vary substantially by neighborhood and municipality. In September 2026, Phoenix had a $449,900 median listing price, a $449,992 median sold price, $1,619 median monthly rent, and 66 median days on market. The city also had 6,887 active for-sale listings and 10,996 rental properties.
The wider Phoenix Valley includes independent municipalities such as Queen Creek, Scottsdale, Tempe, Chandler, Gilbert, Mesa, and Avondale alongside Phoenix neighborhoods including Arcadia, Camelback East, and Laveen. Current pricing ranges from the low-$400,000s in parts of the West Valley to well above $1 million in premium central Phoenix areas, making neighborhood-level comparisons more useful than a single metro-wide average.
Disclaimer: The information provided in this guide is for educational purposes only and does not constitute financial, tax, or legal advice. Always consult with a licensed professional before making any financial or investment decisions.
Key Takeaways
Phoenix's citywide $449,900 median listing price accompanies a $449,992 median sold price and $1,619 median rent
Arcadia occupies the highest current price tier in this guide with a $1.5 million median listing price
Avondale has the lowest citywide listing-price median among the 10 primary entries at $419,900
Scottsdale has the largest rental inventory among the areas compared here, with 3,396 rental properties
Queen Creek's median listing price increased 10.59% year over year while its $2,050 median rent declined 2.15%, showing that home-price and rental trends can move differently
Understanding Phoenix's Real Estate Market
September 2026 Phoenix data show 6,887 active listings and 10,996 rental properties. The median listing price declined 4.12% year over year, while the median sold price was essentially unchanged and median rent increased 0.25%. Realtor.com classified Phoenix as a balanced market during the month.
Conditions also differ from the surrounding county. Maricopa County's $499,000 median listing price was above Phoenix's $449,900 citywide median, while the county's median monthly rent was $1,749.
Property-level financing, rental income, operating expenses, and holding-period assumptions can be modeled with mogul's investment property calculator.
1) Queen Creek - Best for New Development Context
Best For: Newer suburban inventory and active commercial development
Median Listing Price: $729,900
Median Sold Price: $655,000
Median Rent: $2,050/month
Median Listing Price per Sq. Ft.: $279
Median Days on Market: 71
Active Listings: 738
Rental Properties: 194
Data Period: September 2026
Queen Creek's $729,900 median listing price was accompanied by a $655,000 median sold price and $2,050 median monthly rent. The city had 738 active listings and 194 rental properties.
Investment Drivers
230,000 square feet of commercial development underway
Approximately $200 million in private downtown investment
738 active residential listings
194 rental properties
Queen Creek reported 230,000 square feet of downtown commercial development underway in 2026, including retail, restaurants, hospitality, and mixed-use projects. The town also reported approximately $200 million in private downtown investment.
Market Context
The median listing price increased 10.59% year over year, while the median sold price was unchanged. Rental inventory increased 74.81%, but median rent declined 2.15%. Homes spent a median of 71 days on market.
Investment Profile
Queen Creek combines one of the higher current purchase-price medians in this guide with an expanding commercial base and relatively small rental inventory compared with Phoenix, Scottsdale, Mesa, or Tempe. Its current listing-price and rent trends also demonstrate why home-price movement and rental-price movement should be evaluated separately.
2) Scottsdale - Best for Higher-Price Citywide Inventory
Best For: Higher-price residential inventory and large rental supply
Median Listing Price: $899,000
Median Sold Price: $885,000
Median Rent: $2,409/month
Median Listing Price per Sq. Ft.: $444
Median Days on Market: 78
Active Listings: 2,779
Rental Properties: 3,396
Data Period: September 2026
Scottsdale's $899,000 median listing price was accompanied by an $885,000 median sold price and $2,409 median monthly rent. Its 3,396 rental properties represent the largest rental inventory among the primary areas in this guide.
Investment Drivers
3,396 rental properties
2,779 active for-sale listings
$444 median listing price per square foot
Wide range of neighborhood price tiers
Market Context
The median listing price declined 10.09% year over year while the median sold price increased 7.06%. Median rent increased 1.52%, and homes spent a median of 78 days on market.
Investment Profile
Scottsdale is better understood as a collection of distinct submarkets than as one uniform luxury market. Individual neighborhoods range from comparatively accessible central locations to multimillion-dollar communities in North Scottsdale, making citywide figures useful context rather than substitutes for neighborhood-level data.
3) Arcadia - Best for Premium Central Phoenix Inventory
Best For: Premium central Phoenix housing
Median Listing Price: $1,500,000
Median Sold Price: $1,882,500
Median Rent: $1,458/month
Median Listing Price per Sq. Ft.: $572
Median Days on Market: 80
Active Listings: 75
Rental Properties: 61
Data Period: September 2026
Arcadia has the highest current purchase-price median among the areas in this guide. Its $1.5 million median listing price accompanied a $1.88 million median sold price and $572 median listing price per square foot.
Investment Drivers
$1.5 million median listing price
$572 median listing price per square foot
Central Phoenix location
Comparatively limited for-sale and rental inventories
Market Context
The median listing price declined 6.62% year over year. With only 75 active listings and 61 rental properties in the September snapshot, shorter-period medians can be particularly sensitive to the type and price of homes entering or leaving the market.
Investment Profile
Arcadia occupies a substantially different price tier from most Valley markets in this comparison. Its smaller inventory and higher price per square foot make individual property condition, lot characteristics, housing type, and immediate location especially important when comparing addresses.
4) Tempe - Best for Rental Inventory Near ASU
Best For: Large rental inventory and university-area housing
Median Listing Price: $475,000
Median Sold Price: $461,000
Median Rent: $1,700/month
Median Listing Price per Sq. Ft.: $312
Median Days on Market: 57
Active Listings: 634
Rental Properties: 2,151
Data Period: September 2026
Tempe's $475,000 median listing price accompanied a $461,000 median sold price and $1,700 median rent. The city had 2,151 rental properties, making it one of the larger rental markets in this guide.
Investment Drivers
2,151 rental properties
634 active listings
57 median days on market
Approximately 51,200 students at ASU's Tempe campus
Arizona State University reported approximately 51,200 Tempe students for fall 2026. That population provides useful housing-demand context without determining the performance of any individual rental property.
Market Context
The median listing price declined 8.82% year over year, while median rent increased 0.83%. Active listings increased 13.54%, and rental inventory increased 3.51%.
Investment Profile
Tempe combines comparatively moderate Valley pricing with substantial rental inventory and a large university presence. Properties near campus, downtown, light rail, and the city's more suburban areas can operate as distinct submarkets.
5) Chandler - Best for Large Southeast Valley Rental Inventory
Best For: Established Southeast Valley housing and broad rental inventory
Median Listing Price: $575,000
Median Sold Price: $508,500
Median Rent: $1,749/month
Median Listing Price per Sq. Ft.: $296
Median Days on Market: 61
Active Listings: 868
Rental Properties: 1,720
Data Period: September 2026
Chandler's $575,000 median listing price accompanied a $508,500 median sold price and $1,749 median monthly rent. The city had 1,720 rental properties and 868 active for-sale listings.
Investment Drivers
1,720 rental properties
868 active listings
$296 median listing price per square foot
61 median days on market
Market Context
The median listing price increased 0.89% year over year, while the median sold price declined 4.06%. Median rent declined 0.79%, and active inventory was 9.77% below the comparable year-earlier level.
Investment Profile
Chandler sits above Phoenix, Tempe, Mesa, Avondale, and Laveen in current citywide listing-price terms but below Scottsdale and Queen Creek. Its relatively large rental inventory provides a broader current dataset than many smaller neighborhood markets.
6) Gilbert - Best for Southeast Valley Residential Inventory
Best For: Larger suburban residential inventory
Median Listing Price: $619,450
Median Sold Price: $585,000
Median Rent: $1,977/month
Median Listing Price per Sq. Ft.: $286
Median Days on Market: 60
Active Listings: 1,158
Rental Properties: 1,224
Data Period: September 2026
Gilbert's $619,450 median listing price accompanied a $585,000 median sold price and $1,977 median monthly rent. The city had 1,158 active listings and 1,224 rental properties.
Investment Drivers
1,224 rental properties
1,158 active listings
$585,000 median sold price
60 median days on market
Market Context
The median listing price declined 0.41% year over year, while the median sold price increased 4.47%. Median rent increased 1.33%.
Investment Profile
Gilbert's current figures place it near Camelback East in listing-price terms while offering a much larger suburban residential inventory. Its sold-price and rental trends also differ from neighboring Chandler, illustrating how nearby Southeast Valley markets can move differently.
7) Mesa - Best for Broad For-Sale and Rental Inventory
Best For: Large residential market and broad inventory
Median Listing Price: $460,000
Median Sold Price: $450,000
Median Rent: $1,515/month
Median Listing Price per Sq. Ft.: $267
Median Days on Market: 60
Active Listings: 2,970
Rental Properties: 2,625
Data Period: September 2026
Mesa had 2,970 active listings and 2,625 rental properties in September. Its median listing price was $460,000, while the median sold price was $450,000 and median rent was $1,515.
Investment Drivers
2,970 active listings
2,625 rental properties
$460,000 median listing price
Numerous distinct neighborhood price tiers
Market Context
The median listing price declined 3.99% year over year and the median sold price declined 1.10%. Median rent was down 1.17%, while rental inventory increased 15.21%.
Investment Profile
Mesa's scale makes citywide averages especially broad. Housing conditions vary substantially between central Mesa, East Mesa, master-planned communities, and other residential areas, so individual properties should be compared with their immediate competitive market.
For property-level assumptions, mogul's rental property calculator can model financing, rental income, operating expenses, and holding periods.
8) Camelback East - Best for Central Phoenix Rental Inventory
Best For: Central Phoenix housing with substantial rental supply
Median Listing Price: $619,900
Median Sold Price: $620,000
Median Rent: $1,589/month
Median Listing Price per Sq. Ft.: $368
Median Days on Market: 77
Active Listings: 826
Rental Properties: 1,722
Data Period: August 2026
The latest dedicated Camelback East snapshot shows 1,722 rental properties, along with a $619,900 median listing price, $620,000 median sold price, and $1,589 median monthly rent.
Investment Drivers
1,722 rental properties
826 active listings
$368 median listing price per square foot
Central Phoenix location
Market Context
The median listing price declined 14.50% year over year, while the median sold price increased 2.14%. Rental inventory increased 1.23%, while median rent declined 5.36%. The latest dedicated snapshot is August rather than September, which should be considered when comparing it directly with the other entries.
Investment Profile
Camelback East combines a comparatively high price per square foot with one of the larger rental inventories in this guide. It also contains multiple distinct neighborhoods, including Arcadia Lite, so the broad area's median combines different housing types and price tiers.
9) Avondale - Best for Lower West Valley Listing Prices
Best For: Lower current citywide purchase-price comparison
Median Listing Price: $419,900
Median Sold Price: $412,500
Median Rent: $1,595/month
Median Listing Price per Sq. Ft.: $226
Median Days on Market: 65
Active Listings: 577
Rental Properties: 385
Data Period: September 2026
Avondale has the lowest citywide median listing price among the 10 primary entries, at $419,900. Its median sold price was $412,500 and median monthly rent was $1,595.
Investment Drivers
$419,900 median listing price
$226 median listing price per square foot
577 active listings
385 rental properties
Market Context
The median listing price declined 2.97% year over year, while the median sold price declined 0.60%. Rental inventory increased 24.59%, while median rent declined 4.32%.
Nearby Tolleson provides a useful West Valley comparison. Its $418,999 median listing price was similar to Avondale's, but the $1,995 median monthly rent was 7.55% higher than a year earlier.
Investment Profile
Avondale and Tolleson demonstrate that neighboring markets with similar purchase-price medians can have substantially different rental benchmarks. Immediate location and inventory composition therefore matter when comparing individual West Valley properties.
10) Laveen - Best for South Phoenix Price-and-Rent Comparison
Best For: South Phoenix residential inventory
Median Listing Price: $465,000
Median Sold Price: $461,495
Median Rent: $2,050/month
Median Listing Price per Sq. Ft.: $225
Median Days on Market: 64
Active Listings: 325
Rental Properties: 264
Data Period: September 2026
Laveen's $2,050 median monthly rent accompanied a $465,000 median listing price and $461,495 median sold price. The market had 325 active listings and 264 rental properties.
Investment Drivers
$465,000 median listing price
$2,050 median monthly rent
325 active listings
264 rental properties
Market Context
The median listing price was nearly unchanged year over year at +0.22%, while the median sold price increased 7.32%. Median rent increased 4.86%, and homes spent a median 64 days on market.
Investment Profile
Laveen provides a South Phoenix comparison with purchase pricing close to Mesa and Tempe but a higher current median rent than either city. Its smaller inventory makes individual property characteristics especially important when interpreting broad neighborhood medians.
Comparing Phoenix-Area Market Profiles
The latest market snapshots show distinct current pricing tiers. Avondale sits at $419,900, followed by Mesa at $460,000, Laveen at $465,000, Tempe at $475,000, Chandler at $575,000, Gilbert at $619,450, Queen Creek at $729,900, Scottsdale at $899,000, and Arcadia at $1.5 million. Camelback East's latest dedicated August snapshot is $619,900.
Rental supply differs just as sharply. Scottsdale had 3,396 rental properties, followed by Mesa at 2,625 and Tempe at 2,151. Chandler had 1,720, Gilbert 1,224, Avondale 385, Laveen 264, Queen Creek 194, and Arcadia 61. Camelback East's August snapshot contained 1,722 rental properties.
Those differences provide useful market context but do not establish expected returns. Property-level economics still depend on acquisition price, financing, taxes, insurance, maintenance, vacancy, rental strategy, property condition, and holding period.
Short-Term Rental Considerations in Phoenix
Within Phoenix city limits, qualifying short-term rentals require a city short-term rental permit. Phoenix currently charges a $250 non-refundable initial or renewal fee and requires the permit number to appear in short-term rental advertisements.
Phoenix also updated certain requirements involving accessory dwelling units effective April 4, 2026. Other Valley municipalities, including Scottsdale, Tempe, Chandler, Gilbert, Queen Creek, Mesa, and Avondale, maintain their own local rules, so Phoenix requirements do not automatically apply throughout the metropolitan area.
South Phoenix also gained additional transit infrastructure when the 5.5-mile South Central extension opened in June 2025. The project added eight stations between downtown Phoenix and Baseline Road at Central Avenue. Phoenix reports that the wider Valley Metro rail system has attracted more than $17.5 billion in public and private development since rail service began in 2008; that figure applies systemwide rather than solely to the South Central corridor.
Property-level short-term rental assumptions can be modeled with mogul's Airbnb calculator.
How mogul Makes Property-Level Real Estate Investing More Accessible
mogul provides access to individual residential properties through a property-specific LLC structure. Selected properties are acquired through individual LLCs before ownership interests in those entities are fractionalized.
That structure provides exposure to identifiable properties without requiring the purchase of an entire home. Properties generally use multi-year holding structures, and members may receive proportional distributions when operations generate distributable income, along with applicable property-level tax allocations and proceeds from an eventual sale according to the governing terms and property performance.
What Sets mogul Apart
Institutional experience: The investment team has $10 billion deployed into real estate
Selective property review: Less than 1% of reviewed properties pass the diligence process
Property-level structure: Selected properties are acquired through individual LLCs before ownership interests are fractionalized
Multi-year structure: Properties are generally held for 3 to 10 years
Property analysis: Individual addresses can be modeled with mogul's adjustable real estate calculators
The current underwriting framework includes a 12% minimum projected IRR hurdle, inclusive of applicable one-time fees, before a property passes the investment process. That hurdle is an underwriting standard rather than a guaranteed return.
Current mogul Metrics
Assets on mogul: $110M
Users on mogul: 50K+
Record monthly yield: 4.47%
Target IRR range: 12–20%
Real estate deployed: $10 billion
The $110M asset figure is dated June 1, 2026. The 50K+ users, 4.47% record monthly yield, and 12–20% target IRR range are dated September 28, 2026. The 4.47% figure describes a historical record monthly yield, while the 12–20% figure is a target range rather than a guaranteed outcome.
For additional property-level modeling, mogul provides an investment property calculator, rental property calculator, Airbnb calculator, and real estate calculator.
Disclaimer: The information provided in this guide is for educational purposes only and does not constitute financial, tax, or legal advice. Always consult with a licensed professional before making any financial or investment decisions.
Frequently Asked Questions
What is the current median home price in Phoenix?
September 2026 Phoenix data show a $449,900 median listing price and $449,992 median sold price. Median monthly rent is $1,619, while listings spend a median of 66 days on market.
Which Phoenix-area market in this guide has the lowest current listing price?
Avondale has the lowest median listing price among the 10 primary entries at $419,900. Nearby Tolleson's September median is slightly lower at $418,999, while Mesa is $460,000 and Laveen is $465,000.
Which Phoenix-area markets have the largest rental inventories?
Scottsdale has the largest September rental inventory among the primary entries with 3,396 rental properties, followed by Mesa at 2,625 and Tempe at 2,151. Camelback East's latest August snapshot contains 1,722 rental properties.
How does fractional real estate investing work?
Fractional real estate investing allows multiple investors to hold interests associated with an individual property rather than purchasing the entire asset themselves. Through mogul's property-specific LLC structure, selected properties are acquired through individual LLCs and ownership interests in those entities are fractionalized. Property-specific terms govern distributions, tax allocations, governance rights, holding periods, and eventual sale proceeds.
What should you compare when evaluating a Phoenix rental property?
Neighborhood listing prices, rents, inventory, and market pace provide useful context, but an individual property's economics also depend on acquisition price, financing, property taxes, insurance, operating expenses, maintenance, vacancy assumptions, rental strategy, property condition, and holding period. Neighborhood medians are therefore most useful as context alongside property-level analysis.