Rent vs Buy in Arizona
Compare 10 cities across Arizona. Find out whether renting or buying makes more financial sense in your area.
10cities analyzed
Avg Home:$466,500
Avg Rent:$1,965/mo
Avg Price/Rent:19.9
Arizona Housing Market Summary
10
Cities Analyzed
1
Favor Buying
3
Favor Renting
6
Toss-Up
Across Arizona's 10 analyzed cities, the results are mixed with no clear winner statewide. Your decision depends heavily on which city you're considering.
The average home price in Arizona is $466,500, with average rents at $1,965/month. This gives an average price-to-rent ratio of 19.9.
$Most Affordable Cities
$$Most Expensive Cities
All Arizona Cities
Sorted by population. Click any city for detailed analysis.
| City | Median Price | Median Rent | Price/Rent | Break-even | Verdict |
|---|---|---|---|---|---|
| Phoenix | $510,000 | $2,500 | 17.0 | 6 yrs | Toss-up |
| Tucson | $565,000 | $2,000 | 23.5 | 11 yrs | Rent |
| Mesa | $555,000 | $2,200 | 21.0 | 8 yrs | Toss-up |
| Chandler | $520,000 | $1,850 | 23.4 | 11 yrs | Rent |
| Gilbert | $520,000 | $1,850 | 23.4 | 14 yrs | Rent |
| Glendale | $420,000 | $1,850 | 18.9 | 7 yrs | Toss-up |
| Scottsdale | $440,000 | $1,850 | 19.8 | 7 yrs | Toss-up |
| Peoria | $375,000 | $2,100 | 14.9 | 3 yrs | Buy |
| Tempe | $380,000 | $1,800 | 17.6 | 8 yrs | Toss-up |
| Surprise | $380,000 | $1,650 | 19.2 | 7 yrs | Toss-up |
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Run Your Own Numbers
These are general analyses based on median values. Use our comprehensive Buy vs Rent calculator to input your specific income, savings, and financial goals.
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