Market Overview
Home Prices in Phoenix, AZ
The median home value in Phoenix, AZ is $410,222 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 2.1% compared to a year ago and down 4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Phoenix are priced0% above average. Phoenix is part of the Phoenix-Mesa-Chandler, AZ metro area.
Over the past five years, Phoenix home values have risen by approximately14.0%, reflecting steady appreciation in this market.
Price History
Phoenix Home Price Trend
City Comparison
Phoenix vs. National Median
At $410,222, homes in Phoenix cost 0% above the national median of $410,000. Buyers in Phoenix should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Phoenix?
20% Down Payment
$82,044
on $410,222
Monthly P&I
$2,139/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,717/mo
incl. taxes & insurance
Income Needed
$108,680
gross annual (30% rule)
10% Down Option
$41,022
+ PMI applies
Loan Amount (20% dn)
$328,178
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Phoenix, AZ?
The median home value in Phoenix is $410,222 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 2.1% year-over-year.
How much have home prices changed in Phoenix?
Over the past year, home values in Phoenix have decreased by 2.1%. Over five years, prices have risen approximately 14.0%.
How much do I need to earn to buy a home in Phoenix?
To comfortably afford the median home price of $410,222 with a 20% down payment ($82,044) at today's rates (6.8%), you'd need a gross annual income of approximately $108,680. This assumes keeping total housing costs at or below 30% of gross income.
How does Phoenix compare to the national average home price?
The national median home value is approximately $410,000. At $410,222, homes in Phoenix are 0% above the national average.
What metro area is Phoenix part of?
Phoenix is part of the Phoenix-Mesa-Chandler, AZ metropolitan area. Home prices and market conditions can vary across the broader metro region.