Tempe AZ Homes for Sale
With a population of 192,364, 70,981 total housing units (homes and apartments), and a median house value of $308,670, Tempe real estate prices are well above average cost compared to national prices.
Large apartment complexes or high rise apartments are the single most common housing type in Tempe, accounting for 41.41% of the city’s housing units. Other types of housing that are prevalent in Tempe include single-family detached homes ( 40.74%), row houses and other attached homes ( 8.05%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.42%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.
People in Tempe primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Tempe has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Tempe built from 1970 to 1999 so parts of town may have that “Brady Bunch” look of homes popular in the ’70s and early ’80s, although some of these houses were built up through the early ’90s as well. There is also a lot of housing in Tempe built between 1940-1969 ( 17.55%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.70%).
Vacant housing appears to be an issue in Tempe. Fully 10.16% of the housing stock is classified as vacant. Left unchecked, vacant Tempe homes and apartments can be a drag on the real estate market, holding Tempe real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
TEMPE HOME APPRECIATION RATES
In the last 10 years, Tempe has experienced some of the highest home appreciation rates of any community in the nation. Tempe real estate appreciated 79.27% over the last ten years, which is an average annual home appreciation rate of 6.01%, putting Tempe in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Tempe definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Tempe that despite a nationwide downturn in the housing market, Tempe real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tempe appreciation rates continue to be some of the highest in America, at 7.63%, which is higher than appreciation rates in 82.02% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tempe. Tempe appreciation rates in the latest quarter were at 1.90%, which equates to an annual appreciation rate of 7.83%. Info: https://www.neighborhoodscout.com/az/tempe/real-estate#description
Find real estate for sale in Tempe and surrounding areas by selecting from our results below, or by entering your search criteria.
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Tempe, AZ Homes for Sale $100,000 – $200,000
Tempe, AZ Homes for Sale $200,000 – $300,000
Tempe, AZ Homes for Sale $300,000 – $400,000
Tempe, AZ Homes for Sale $400,000 – $500,000
Tempe, AZ Homes for Sale $500,000 – $600,000
Tempe, AZ Homes for Sale $600,000 – $700,000
Tempe, AZ Homes for Sale $700,000 – $800,000
Tempe, AZ Homes for Sale $800,000 – $900,000
Tempe, AZ Homes for Sale $900,000 – $1,000,000