ROIStack
Market Intelligence

Phoenix, AZ

Updated quarterly · Data sourced from Zillow ZHVI/ZORI, Census ACS, and FHFA. · Arizona overview

Analyze a Phoenix deal

Home Value

$440k+5.7%

Median Rent

$2,010+0.5%

Per month average

Gross Yield

5.48%

Annual rent / value

Rent / Price

0.457%

1% rule benchmark

HH Income

$79,000

Median household

Owner-Occ

63.0%

Renter-Occ

37.0%

Tenant demand share

Population

5.1M

Metro area census

Market Analysis

The Phoenix, AZ real estate market currently sits at a median home value of $440k with median rents around $2,010/month, producing a gross yield of 5.48%. That puts Phoenix in the category of moderate gross yield, investors here typically lean on appreciation alongside cash flow. Over the past year, home values are up 5.7%, while rents rose 0.5%, the gap between those two trends is what determines whether yield compresses or expands over time for buy-and-hold investors in Arizona. Phoenix is an owner-occupier market (63% owner-occupied) where investor competition is generally lighter, with median household income of $79,000 setting the affordability ceiling on future rent growth.

Frequently asked questions

What is the average rent in Phoenix, AZ?
As of late 2025, the median rent in Phoenix is approximately $2,010 per month, with rent growth of 0.5% year over year.
Is Phoenix a good market for rental property investing?
Phoenix produces a gross rental yield of about 5.48%. That is below the 7% LTR benchmark, so investors in Phoenix typically combine modest cash flow with appreciation upside. Run your specific numbers in a calculator before committing capital.
What is the median home price in Phoenix?
The median home value in Phoenix, AZ is approximately $440,000, up 5.7% from a year ago.
How have home prices changed in Phoenix over the past year?
Home values in Phoenix have moved 5.7% year over year, while rents have changed by 0.5%. This price-to-rent gap is the single biggest driver of long-term rental investor returns in the Arizona market.
What is the rent-to-price ratio in Phoenix?
Phoenix has a rent-to-price ratio of 0.457%, meaning monthly rent is about 0.457% of the home's price. The "1% rule" used by buy-and-hold investors looks for 1.0%+; this market falls short of that bar, which is typical for most large US metros today.

Nearby Arizona markets

Tucson, AZ

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