The Most Affordable Neighborhoods in Arizona by Home Value

These days, finding an affordable place to live in the Arizona area can be challenging. Home prices in Arizona are now at a median cost of $421,436, higher than the the United States average of $419,293.

The average cost of rent is $1,736/mo in Arizona, primarily driven by the current value of real estate in the Arizona area. In Arizona, 32.63% of households rent, and 37.27% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Arizona is $7,674 per month. Households that rent pay about 22.63% of their income on rent here. Arizona’s most expensive areas are in the northern regions, while the cheapest areas are in the northeastern parts of the state.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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