In short
The median value of owner-occupied homes is $426,000 in Arizona and $454,900 in the city of Phoenix, against $360,600 nationwide (Census ACS 2024). On the FHFA index, Arizona prices up 0.6% and Phoenix–Mesa–Chandler prices up 0.8% from Q2 2025 to Q2 2026.
What it costs: median value in 2024
| Area | Median value, 2024 | Margin of error (90%) |
|---|---|---|
| United States | $360,600 | ±$618 |
| Arizona | $426,000 | ±$2,728 |
| Phoenix–Mesa–Chandler metro area | $470,600 | ±$2,742 |
| Maricopa County | $482,800 | ±$3,281 |
| City of Phoenix | $454,900 | ±$6,467 |
Source: Census ACS 2024, table B25077; owners’ own estimates, not sale prices.
Three points stand out:
- The Arizona median is $65,400 above the national median.
- The city of Phoenix sits $28,900 above the Arizona median, but $15,700 below the Phoenix–Mesa–Chandler metro median and $27,900 below Maricopa County. The suburbs pull the metro and county figures up.
- The city figure carries a margin of error of ±$6,467, so Phoenix’s true median is very likely between about $448,400 and $461,400.
How prices have moved: the FHFA index
Phoenix–Mesa–Chandler is a single metro area in FHFA’s files, with no separate metro divisions.
| Area | 1-year change (Q2 2025 to Q2 2026) | 5-year change (Q2 2021 to Q2 2026) |
|---|---|---|
| United States | +2.1% | +33.4% |
| Arizona | +0.6% | +27.5% |
| Phoenix–Mesa–Chandler metro area | +0.8% | +27.0% |
Source: FHFA HPI, purchase-only, Q2 2026 (release of August 25, 2026); changes by Payotte.
Arizona home prices were nearly flat over the past year, while the national index rose 2.1%. Over five years, Arizona and Phoenix still gained a little more than a quarter in value, but less than the nation’s 33.4%.
A worked example
A Phoenix-area home worth $400,000 in Q2 2021 would be about $508,000 in Q2 2026 on the Phoenix–Mesa–Chandler index index (+27.0%); over the last year alone it would gain about $4,000 (+0.8%). One home can differ widely.
How to use these figures when buying
Related: Arizona closing costs guide, buying a home in Phoenix and Arizona first-time buyer programs.
Method and dataset
ACS median value. ACS 1-Year 2024, table B25077. Geographies: United States (0100000US), Arizona (0400000US04), Phoenix–Mesa–Chandler, AZ Metro Area (310M700US38060), Maricopa County (0500000US04013), Phoenix city (1600000US0455000). Read through the data.census.gov API on October 13, 2026. The definition of value comes from the ACS 2024 Subject Definitions.
FHFA index. FHFA HPI (purchase-only, seasonally adjusted), state series (Arizona), metro series (Phoenix-Mesa-Chandler, AZ, code 38060) and U.S. series. Index values used: Arizona 561.31 (Q2 2025), 442.96 (Q2 2021) and 564.57 (Q2 2026); Phoenix–Mesa–Chandler 617.50, 490.03 and 622.41; United States 426.58, 326.58 and 435.69.
Frequently asked questions
What is the median home value in Arizona?
Arizona’s 2024 ACS median home value is $426,000 (±$2,728), against $360,600 for the nation: owners’ own estimates, not sale prices.
What is the median home value in Phoenix?
For the city of Phoenix, the 2024 ACS median value is $454,900 (±$6,467). Maricopa County is at $482,800 and the Phoenix–Mesa–Chandler metro area at $470,600.
Are Arizona home prices going up or down?
FHFA’s purchase-only index shows Arizona prices rose 0.6% over the year to Q2 2026, and the Phoenix–Mesa–Chandler area rose 0.8%. Over five years, they rose 27.5% and 27.0%.
How Arizona compares with the other States
Arizona ranks 15th of 50 for median home value ($426,000), 18% above the national $360,600.
The States closest in median value are Montana ($425,400) and Maryland ($436,300). The range runs from $170,800 in West Virginia to $875,900 in Hawaii; Arizona is $86,500 above the middle of that ranking (Wyoming).
On the FHFA index, Arizona prices rose 0.6% over the year to the second quarter of 2026, which places the State 42nd of 50, 1.5 points behind the national +2.1%. Over five years the gain is +27.5% (40th of 50; nation +33.4%).
The two measures diverge: Arizona is among the dearest States, yet its prices rose less than most over the past year.
Over five years, Arizona's +27.5% annualises to +5% a year (nation +5.9%). The latest year (+0.6%) is 4.4 points under that average, a slower pace than the five-year average.
Phoenix, the main city, has a median of $454,900, 16th of the 49 main cities Payotte covers. That is 7% above the Arizona median, a premium that ranks 30th of 49.
The one-year FHFA change runs from -1.2% in New Mexico to +8.3% in Alaska. Arizona (+0.6%) is 7.7 points below the top and 1.8 above the bottom; Texas (+0.5%) and Mississippi (+0.5%) are the nearest to it.
For scale, 20% of the Arizona median is $85,200, against $72,120 at the national median.
Compare with the other states: Median home price by state.
More Arizona guides
- Closing costs in Arizona: what buyers and sellers pay
- Real estate transfer tax in Arizona: none, plus a $2 fee
- Arizona property tax: the 5% value limit and how bills work
- Seller disclosure in Arizona: SPDS, statute and lead paint
- Do you need a real estate attorney to close in Arizona?
- Foreclosure in Arizona: trustee's sale timeline and rights
- First-time home buyer programs in Arizona: Home Plus, Phoenix
- How to verify a real estate license in Arizona
- Arizona community property: what it means when you buy a home
- Arizona natural hazards and home insurance: heat, floods, fire
Sources
- Census Bureau, ACS 1-Year 2024, table B25077 (consulted October 13, 2026)
- Census Bureau, 2025 ACS release schedule (consulted October 13, 2026)
- American Community Survey 2024 Subject Definitions (U.S. Census Bureau) (consulted October 13, 2026)
- FHFA news release, August 25, 2026 (consulted October 13, 2026)
- FHFA HPI datasets (quarterly, purchase-only) (consulted October 13, 2026)