House Charts

Tempe, AZ Housing Market: Home Prices & Rent

Updated September 2026 data · city in the Phoenix metro
Tempe, AZ home values are down 0.5% over the past year, to a typical $459k - 8% below the July 2022 peak. Typical rent is $1,623 a month (+0.8% in a year). That's 4% above the Phoenix-area typical of $441k.
Typical home value
$459k
-0.5% (-$2,081) in 12 months
From the peak
-8%
Peak $500k, Jul 2022
Since Dec 2019
+47%
from $312k
Typical rent
$1,623/mo
+0.8% in 12 months
vs Phoenix metro
+4%
metro typical $441k
Days to go under contract
62
Phoenix metro, September 2026

Tempe home values since 2000

$100k$200k$300k$400k$500k2000200420082012201620202024Peak $500k (Jul 2022)Now $459k

Last few years

$300k$400k$500k20192020202120222023202420252026Peak $500k (Jul 2022)Now $459k

Rent in Tempe

$1,000$1,200$1,400$1,600201520172019202120232025Now $1,623

Owning vs renting, monthly

Buying the typical Tempe home with 20% down at this week's 7.32% 30-year rate costs about $3,093/month (principal, interest plus ~1.5% a year for tax and insurance) vs $1,623/month typical rent.

Rate: Freddie Mac, week of Oct 22, 2026. Estimate for comparison only.

What changed this month

Tempe vs the Phoenix metro, Arizona and the U.S.

Typical home12-month changeTypical rent
Tempe, AZ$459k-0.5%$1,623/mo
Phoenix metro$441k-1.1%$1,720/mo
Arizona$417k-1.0%-
United States$366k+1.2%$1,932/mo

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Common questions

Are home prices falling in Tempe, AZ?

Yes - the typical Tempe home value is down 0.5% over the past 12 months, at $459k (September 2026). Values are 8% below their July 2022 peak of $500k.

Is the Tempe housing market crashing?

Home values are 8% below their July 2022 peak and down 0.5% over the past year - a gradual decline, not a sudden collapse. Whether that continues isn't knowable from the data - this page updates every month when new figures come out.

How much is rent in Tempe, AZ?

Typical rent in Tempe is $1,623 a month (September 2026), +0.8% over 12 months.

Is Tempe more expensive than the rest of the Phoenix area?

The typical Tempe home ($459k) is 4% above the Phoenix metro typical of $441k (September 2026).

More of the Phoenix area

Phoenix metro housing market · Mesa · Chandler · Gilbert · Scottsdale

Sources: Data Provided by Zillow Group (Zillow Home Value Index and Zillow Observed Rent Index for the city of Tempe, September 2026; days to contract for the metro area). 30-year mortgage rate: Freddie Mac PMMS. How we calculate.