Price History
Median Home Price
Median Rent
Stored observations from 2016-07-31 to 2026-06-29. Source: Zillow ZHVI/ZORI. Missing rents are shown as gaps.
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Purchase
Monthly Cash Flow
* Based on metro-wide median values. 35% expenses include taxes, insurance, maintenance, vacancy, and property management. Individual counties and properties vary significantly.
Score Breakdown
Based on 4.66% rent-to-price ratio. Higher ratios indicate stronger cash flow potential.
Based on -2.0% YoY price growth. Moderate growth (3-8%) scores highest.
Based on 0.0% population growth. Growing areas indicate economic stability.
Based on price relative to estimated local incomes.
Scores are calculated using real Zillow metro-level home value and rent data, Census population data, and economic indicators. The weighted average produces the overall investment score. This metro score represents area-wide averages; individual counties may vary significantly.
Investment Outlook
Strengths
- +Low unemployment (0.0%)
Challenges
- -Below-average rent-to-price ratio (4.66%)
- -Declining home values (-2.0% YoY)
- -Negative cash flow at typical financing (-$1,218/mo)
- -Negative leverage (cap rate 3.0% < mortgage rate 6.9%)
Counties in Phoenix, AZ
Section 8 in Phoenix, AZ: payment standards by ZIP, PHA waitlist status, and voucher counts are on VoucherMatch, the same HUD dataset with the tenant demand side attached.
Compare to Similar Metros
| Metro Area | Verdict | ||||||
|---|---|---|---|---|---|---|---|
Danville, KY Danville, KY | 62 | $212,690 | $1,298 | 7.32% | Buy | View | |
Jacksonville, TX Jacksonville, TX | 62 | $232,877 | $1,713 | 8.83% | Buy | View | |
Red Bluff, CA Red Bluff, CA | 62 | $323,027 | $1,656 | 6.15% | Buy | View | |
Raymondville, TX Raymondville, TX | 62 | $181,537 | Est. | Buy | View | ||
Nogales, AZ Nogales, AZ | 62 | $279,715 | $1,561 | 6.70% | Buy | View | |
Current Phoenix, AZ | 42 | $448,352 | $1,742 | 4.66% | Avoid |
Rent vs buy in this metro
The Bottom Line
The Phoenix, AZ metro area scores 42/100, ranking #823 of 894 US metros (top 92%). The 4.66% rent-to-price ratio may require targeting specific counties or creative strategies for positive cash flow. Current metro-wide averages make traditional buy-and-hold investing challenging. Consider house hacking, value-add strategies, or drilling down to specific counties.