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Data report · September 2026

The state of the Arizona housing market.

Median home value and city-by-city trends across Arizona, from Zillow Home Value Index data. Free to cite with attribution to Home Value Pros.

Arizona median value

$385K

Zillow ZHVI, September 2026

Cities covered

26

with published pages

Report video

Monthly

per city, on each hub

The outlook

Arizona housing market forecast 2027

-1.1%

Weighted average of Zillow's ZIP forecasts, 12 months to September 2027

A weighted average of Zillow's ZIP forecasts, across 264 Arizona ZIP codes, points to typical home values falling 1.1% by September 2027.

Over the 12 months through September 2026, typical home values in Arizona fell 0.7%, per the Zillow Home Value Index.

Will home prices drop in Arizona?

The forecasts point that way: a weighted average of Zillow's ZIP forecasts for Arizona shows typical home values falling 1.1% by September 2027, after a 0.7% decline over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

How this is calculated: each ZIP code's 12-month Zillow forecast is weighted by its typical home value (Zillow Home Value Index, September 2026). 264 Arizona ZIP codes have both figures.

Forecast: a weighted average of Zillow's ZIP forecasts (Zillow Home Value Forecast, published October 2026), calculated by Home Value Pros. A forecast, not a guarantee.

Metro areas

Which Arizona metro areas does Zillow expect to rise or fall?

Zillow's 12-month home value forecast for each metro area whose principal city is in Arizona, through September 2027, largest first.

  1. 1Phoenix, AZ-1.8%
  2. 2Tucson, AZ-1.1%
  3. 3Lake Havasu City, AZ-1.2%
  4. 4Yuma, AZ+0.9%
  5. 5Flagstaff, AZ+1.0%
  6. 6Sierra Vista, AZ+0.4%
  7. 7Show Low, AZ+0.4%
  8. 8Payson, AZ+0.3%
  9. 9Nogales, AZ+0.1%
  10. 10Safford, AZ+2.5%

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

Where values are climbing

Fastest appreciating Arizona cities

  1. 1Paradise Valley
    $3.34MUp12.1%
  2. 2Scottsdale
    $882KUp5.1%
  3. 3Casa Grande
    $338KUp2.2%
  4. 4Cave Creek
    $825KUp1.9%
  5. 5Bullhead City
    $335KUp1.1%
  6. 6Prescott Valley
    $507KUp0.7%
  7. 7Lake Havasu City
    $487KUp0.7%
  8. 8Sedona
    $878KUp0.4%
  9. 9Congress
    $340KUp0.3%
  10. 10Flagstaff
    $658KUp0.2%

Where the market is cooling

Fastest cooling Arizona cities

  1. 1Maricopa
    $337KDown3.6%
  2. 2San Tan Valley
    $401KDown2.0%
  3. 3Vail
    $401KDown1.8%
  4. 4Glendale
    $398KDown1.7%
  5. 5Chandler
    $521KDown1.3%
  6. 6Phoenix
    $409KDown1.3%
  7. 7Surprise
    $419KDown1.3%
  8. 8Bisbee
    $225KDown1.2%
  9. 9Tucson
    $329KDown0.8%
  10. 10Queen Creek
    $586KDown0.2%

Priciest markets in the state

Most expensive Arizona cities by median value

  1. 1Paradise Valley
    $3.34M
  2. 2Scottsdale
    $882K
  3. 3Sedona
    $878K
  4. 4Cave Creek
    $825K
  5. 5Flagstaff
    $658K
  6. 6Queen Creek
    $586K
  7. 7Prescott
    $573K
  8. 8Gilbert
    $545K
  9. 9Chandler
    $521K
  10. 10Prescott Valley
    $507K

Common questions

What people ask us.

Will home prices go up in Arizona in 2027?

A weighted average of Zillow's ZIP forecasts, across 264 Arizona ZIP codes, points to typical home values falling 1.1% by September 2027. Forecast: a weighted average of Zillow's ZIP forecasts (Zillow Home Value Forecast, published October 2026), calculated by Home Value Pros. A forecast, not a guarantee.

What is the typical home value in Arizona?

The typical home value in Arizona is $385,442 as of September 2026, the median Zillow Home Value Index across ZIP codes in the state.

How much have Arizona home values changed in the past year?

The median home value in Arizona changed -0.7% over the 12 months ending September 2026, based on the Zillow Home Value Index.

Methodology & attribution

Figures are medians of the latest Zillow Home Value Index (ZHVI) across each city's published ZIPs in Arizona, as of September 2026. Year-over-year change compares each market to the same month a year earlier, paired ZIPs only. Data and analysis by Home Value Pros; cite with a link to this report. See the national housing market report and the Arizona market index.