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Popular Communities in Tempe, AZ
Housing market in Tempe, AZ
- StateArizona
- MarketPhoenix Metropolitan Area
- Neighborhoods70
- Communities0
- Single family2
- Townhouses0
- Multi family0
- Condominiums0
- Active builders0
- Starting price$835,000
- Median price$4,667,500
- Price per square foot$665.02
Real estate price trends
Home price data reflects 0 listings in Tempe, AZ, sourced from Jome and updated regularly
*Based on Jome markets
What it's like to live in Tempe?
The Local Vibe
Tempe serves as a high-density employment and education hub within Maricopa County, situated directly between Phoenix and the East Valley. With a population of approximately 185,000, the city is defined by its youthful energy and a workforce heavily concentrated in the technology and education sectors. It functions as a primary destination for commuters across the metro area, driven by the presence of Arizona State University and major corporate headquarters.
Living Here: Amenities & Lifestyle
Daily life often centers around the water at Tempe Town Lake, where residents kayak or jog along the paved perimeter paths. The adjacent Mill Avenue district provides a walkable stretch of retail and dining, while Tempe Marketplace offers a more traditional open-air shopping experience. Commuters benefit from immediate access to the I-10, Loop 101, and Loop 202, alongside the Valley Metro Rail system that connects to downtown Phoenix. Major employers like State Farm and Salt River Project maintain massive campuses here, keeping the local economy robust. On weekends, many locals head to Papago Park for hiking or catch a touring Broadway show at the Frank Lloyd Wright-designed Gammage Auditorium. Finding new home communities in Tempe allows residents to stay close to these urban amenities while enjoying modern infrastructure.
Schools & Family Appeal
Education is a cornerstone of the community, served primarily by the Tempe Elementary and Tempe Union High School Districts, with portions of the south covered by the Kyrene School District. Families frequently gather at the Tempe Public Library or the Kiwanis Recreation Center, which features an indoor wave pool and extensive athletic fields. These institutions provide a stable foundation for the city's diverse residential neighborhoods.
Why New Construction Makes Sense Here
Much of the existing housing stock dates back to the mid-20th century, often requiring significant investment to meet modern efficiency standards in the Sonoran Desert climate. Choosing new construction homes in Tempe can lead to substantial financial advantages, such as estimated utility savings of $150-250 per month compared to 1970s-era builds. These savings stem from advanced insulation and high-efficiency HVAC systems that are essential for managing Arizona’s extreme summer heat. Additionally, many builders offer interest rate buy-downs that can lower monthly mortgage payments more effectively than negotiating on an older resale property. This financial predictability is particularly valuable in a market where retrofitting an older home with new windows or roofing can cost tens of thousands of dollars upfront.
