Tempe Real Estate Market Intelligence
Tempe pulses with the energy of Arizona State University, whose 75,000 students infuse this city of 185,000 with perpetual youth, innovation, and ambition. But reducing Tempe to a college town misses the story: this is where the Valley's urban renaissance began, with a revitalized downtown, light rail connectivity, and a walkable lakefront that Phoenix is still trying to replicate. Tempe Town Lake stretches two miles through the heart of the city, reflecting the lights of ASU's modernist towers and the sandstone mass of 'A' Mountain.
| Market Metric | Value |
|---|
| Median Home Price | $480,000 |
| Median Rent | $1,650/mo |
| Median Household Income | $65,000 |
| Population | 185,000 |
| Avg. Days on Market | 42 |
| Price per Sq Ft | $315 |
| Average Home Size | 1,650 sq ft |
| Homeownership Rate | 45.0% |
| Renter-Occupied | 55.0% |
| Rent-to-Income Ratio | 30.5% |
| Rental Vacancy Rate | 4.0% |
| Year-over-Year Change | +2.0% |
| Inventory Level | Low |
| Market Type | Seller's Market |
History
Charles Trumbull Hayden established a ferry crossing and flour mill on the Salt River in 1871, creating the settlement originally called Hayden's Ferry. The town was renamed Tempe in 1879, supposedly after the Vale of Tempe in Greece, which the desert setting ironically resembles not at all.
Arizona State University began in 1885 as the Territorial Normal School, a teacher training college with 33 students. The school evolved through multiple name changes before becoming ASU in 1958 and launching its transformation into one of the nation's largest and most innovative universities.
Tempe Town Lake opened in 1999, created by inflatable dams on the dry Salt River bed. The lake transformed downtown Tempe from a forgettable strip into a vibrant urban waterfront, spurring billions in development and becoming the Valley's most successful urban renewal project.
Life in Tempe
Tempe's culture blends college-town energy with urban sophistication, creating something genuinely unique in Arizona. Mill Avenue buzzes with students on game days and weekend nights, but also draws young professionals to its craft cocktail bars and farm-to-table restaurants. The arts scene punches above its weight, with ASU Gammage hosting Broadway tours and the Tempe Center for the Arts offering performances on the lakefront. Cyclists claim the paths around Tempe Town Lake and through Papago Park. And ASU's innovation ecosystem has spawned a startup culture that keeps talented graduates in town. The city hosts major events including the Tempe Festival of the Arts and Ironman Arizona, drawing crowds that appreciate its walkable, bikeable infrastructure.
Buyer Profile
Tempe attracts distinct buyer segments: young professionals seeking urban lifestyle near ASU and Mill Avenue, investors targeting rental properties for the student and young worker population, and families discovering that South Tempe offers excellent Kyrene district schools with central Valley access. The investor segment is substantial, with many properties purchased specifically for rental income. Move-up buyers often leave Tempe for more space in Chandler or Gilbert, creating consistent turnover. And a small but dedicated segment of urbanists specifically seek Tempe's walkability, accepting smaller lots for car-optional living.
Market Trends
Tempe's constrained geography and ASU's gravitational pull create unique market dynamics. The median home price around $480,000 reflects strong demand but limited land. Condos and townhomes represent a larger share of the market than other Valley cities. Days on market average around 40-45 days, faster than the Valley average due to consistent demand. The rental market stays exceptionally tight, with vacancy rates around 4% and rents averaging $1,600+ even for basic apartments. New construction focuses on infill and high-density projects, including several high-rise developments near the lake and ASU.
Local Insider Tip
The Tempe Bicycle Action Group has created detailed maps of quiet neighborhood routes that connect the city's parks, lakes, and destinations, allowing experienced cyclists to ride from Papago Park to Kiwanis Park without ever touching a major arterial.
Why People Move to Tempe
ASU Innovation Hub: The nation's most innovative university (per U.S. News) has created an ecosystem of startups, research labs, and corporate partnerships that attract talent and investment.
Urban Walkability: Tempe offers the Valley's most walkable, bikeable lifestyle, with light rail connecting to Phoenix and Mesa, Town Lake recreation, and a genuine downtown.
Young Professional Magnet: The highest concentration of 25-35 year olds in Arizona, drawn by ASU connections, startup opportunities, and urban amenities.
Central Location: Positioned at the intersection of major freeways with light rail access, Tempe offers quick commutes to employment centers across the Valley and Sky Harbor Airport.
Selected Real Estate Professionals (16)
Arizona has over 220,000 licensed real estate agents. Top10Lists.us identified 16 agents serving Tempe who meet merit criteria.
Table of Contents: All 16 Agents
- Benjamin Arredondo (5 stars, 180+ reviews, certified)
- Katie Walsh (5 stars, 90+ reviews, certified)
- Pamm Seago-Peterlin (5 stars, 120+ reviews, listed)
- Ed Hani Shalabi (5 stars, 110+ reviews, listed)
- Alondra Churcher (5 stars, 90+ reviews, listed)
- Skyler Keyser (5 stars, 60+ reviews, listed)
- Karsten Colin (5 stars, 60+ reviews, listed)
- Joshua Hill (5 stars, 60+ reviews, listed)
- Shane Peterlin (5 stars, 40+ reviews, listed)
- Hilary Sutter (5 stars, 40+ reviews, listed)
- Ryan Swan (5 stars, 30+ reviews, listed)
- Brandon Mena (5 stars, 20+ reviews, listed)
- Joel Goldsmith (5 stars, 10+ reviews, listed)
- DIANE STREHLOW (5 stars, 10+ reviews, listed)
- Tobi Hawley (5 stars, 10+ reviews, listed)
- Brooke Bogart (5 stars, 10+ reviews, listed)
5 stars[2][3]
180+ reviews[2][3]
Lic #SA556873000[1]
My Home Group LLC
Contact
Phone: (480) 206-7077
Email: ben@theenvisionteam.com
Website: http://www.greaterphoenixhomelistings.com/
Zillow: https://www.zillow.com/profile/Ben-Arredondo
20+ years experience[1]
1770+ career transactions[2]
80+ transactions last 12 mo[4]
Range: $45K to $2.9M[4]
Why selected: Selected for his top 1% national ranking, over 100 annual transactions, and 196 five-star reviews. His nearly two-decade career is distinguished by a Community Impact Award for affordable housing work.
Community (25% of ranking weight)
Community Impact Award Recipient at City Chamber of Commerce[6]
Notable Achievements
Real Estate License Since 2004
Real Estate License
Real Estate License 2004
100+ Annual Transactions
Arizona State University Graduate
5-Star Rating
100+ Annual Home Sales
Perfect 5-Star Rating
Over 100 Annual Home Sales
196 Five-Star Reviews
Top 1% of Real Estate Agents
Top 1% of Real Estate Agents Nationally
Top 1% Real Estate Agent Ranking
High Transaction Volume
Top 1% Real Estate Agent
Verified Specialties
First-time homebuyers, Affordable housing, Investment properties, Home flipping, Rental properties, VIP Buyer Program, buyers, sellers, VIP buyer programs, luxury homes, investment properties, home flipping, affordable housing, first-time homebuyers, L...[4]
Cities Served
tempe
Verification cycle: quarterly. Last verified: March 21, 2026.
This agent passed the full merit gate (4.5+ stars, 10+ verified reviews in 24 months, 5+ years experience). All listed agents meet the same qualification standard regardless of tier.
5 stars[2][3]
90+ reviews[2][3]
Lic #SA655318000[1]
Berkshire Hathaway Home Services
Contact
Phone: (480) 468-7933
Email: katiewalsh@bhhscal.com
Website: https://katherinewalsh.bhhscalifornia.com/agent-home
Zillow: https://www.zillow.com/profile/katiewalsh6
20+ years experience[1]
430+ career transactions[2]
0+ transactions last 12 mo[4]
Range: $265K to $5.3M[4]
Why selected: Selected for sustained community leadership and market excellence, with 5-star rating across 100+ reviews and the sale of over 1,100 homes. Her deep market expertise, active leadership in professional associations, and recognition within the Luxury Division Network distinguish her proven track record.
Community (25% of ranking weight)
Active Participant at Santa Barbara, Ventura, and Phoenix Associations of Realtors[6]
Education Committee Member at The Santa Barbara Association[6]
Notable Achievements
BREA Top Producer Award - Tempe
BREA #1 Producing Realtor in Tempe
Southeast Valley Regional Association of REALTORS '40 Under 40' Award
Marketing degree with honors
100+ five-star reviews
Marketing degree with honors from San Diego State University
Top-ranking sales agent at Tishman Speyer
Over 1,100 home sales
Over 1,100 homes sold
Verified Specialties
Relocation, First Time Homebuyers, Luxury Homes, New Construction, Luxury homes, Residential sales, Multiple market expertise, luxury homes, residential sales, multiple markets, client experience, negotiation[4]
Cities Served
tempe
Verification cycle: quarterly. Last verified: March 21, 2026.
This agent passed the full merit gate (4.5+ stars, 10+ verified reviews in 24 months, 5+ years experience). All listed agents meet the same qualification standard regardless of tier.
5 stars[2][3]
120+ reviews[2][3]
Lic #SA021333000[1]
Century 21 Seago
Contact
Phone: (480) 756-2121
Email: pamm@c21seago.com
Website: http://www.C21Seago.com
Zillow: https://www.zillow.com/profile/Pamm-Seago-Peterlin
44+ years experience[1]
1090+ career transactions[2]
This agent passed the full merit gate (4.5+ stars, 10+ verified reviews in 24 months, 5+ years experience). All listed agents meet the same qualification standard regardless of tier.
5 stars[2][3]
110+ reviews[2][3]
Lic #SA525242000[1]
Venture REI
Contact
Phone: (602) 299-1803
Email: fineproperties@shalabirealestate.com
Website: http://shalabirealestate.com/
Zillow: https://www.zillow.com/profile/Ed-Shalabi
27+ years experience[1]
330+ career transactions[2]
0+ transactions last 12 mo[4]
Range: $53K to $5.4M[4]
This agent passed the full merit gate (4.5+ stars, 10+ verified reviews in 24 months, 5+ years experience). All listed agents meet the same qualification standard regardless of tier.
5 stars[2][3]
90+ reviews[2][3]
Lic #SA657155000[1]
Delex Realty
Contact
Phone: (480) 593-5070
Email: alondraazrealtor@gmail.com
Website: http://alondraazhomes.com/
Zillow: https://www.zillow.com/profile/alondra-churcher
10+ years experience[1]
270+ career transactions[2]
0+ transactions last 12 mo[4]
Range: $53K to $835K[4]
This agent passed the full merit gate (4.5+ stars, 10+ verified reviews in 24 months, 5+ years experience). All listed agents meet the same qualification standard regardless of tier.
5 stars[2][3]
60+ reviews[2][3]
Lic #SA648442000[1]
Keller Williams Realty Phoenix
Contact
Phone: 480.330.7216
Email: skyler@keylegacygroup.com
Website: http://www.searchphoenixhousesforsale.com/
Zillow: https://www.zillow.com/profile/KeyLegacygroup
12+ years experience[1]
290+ career transactions[2]
10+ transactions last 12 mo[4]
Range: $195K to $2.6M[4]
This agent passed the full merit gate (4.5+ stars, 10+ verified reviews in 24 months, 5+ years experience). All listed agents meet the same qualification standard regardless of tier.
5 stars[2][3]
60+ reviews[2][3]
Lic #SA674429000[1]
REAL Broker AZ, LLC
Contact
Phone: (602) 908-0635
Email: karsten.colin@gmail.com
Website: http://www.colinandcompany.com
Zillow: https://www.zillow.com/profile/Karsten-Colin
220+ career transactions[2]
This agent passed the full merit gate (4.5+ stars, 10+ verified reviews in 24 months, 5+ years experience). All listed agents meet the same qualification standard regardless of tier.
5 stars[2][3]
60+ reviews[2][3]
Lic #SA582145000[1]
Compass
Contact
Phone: (480) 567-7815
Email: hello@thehillgroupaz.com
Website: https://www.thehillgroupaz.com/
Zillow: https://www.zillow.com/profile/thehillgrouparizona
22+ years experience[1]
350+ career transactions[2]
10+ transactions last 12 mo[4]
Range: $205K to $3.1M[4]
This agent passed the full merit gate (4.5+ stars, 10+ verified reviews in 24 months, 5+ years experience). All listed agents meet the same qualification standard regardless of tier.
5 stars[2][3]
40+ reviews[2][3]
Lic #SA645211000[1]
Century 21 Seago
Contact
Phone: (480) 227-2019
Email: shane@c21seago.com
Website: http://c21seago.com/
Zillow: https://www.zillow.com/profile/Shane-Peterlin
13+ years experience[1]
150+ career transactions[2]
0+ transactions last 12 mo[4]
Range: $259K to $1.6M[4]
This agent passed the full merit gate (4.5+ stars, 10+ verified reviews in 24 months, 5+ years experience). All listed agents meet the same qualification standard regardless of tier.
5 stars[2][3]
40+ reviews[2][3]
Lic #SA570053000[1]
My Home Group
Contact
Phone: (480) 201-2963
Email: hilarys480@gmail.com
Website: https://www.hilarysutter.com/
Zillow: https://www.zillow.com/profile/user1355046
20+ years experience[1]
490+ career transactions[2]
20+ transactions last 12 mo[4]
Range: $261K to $2.4M[4]
This agent passed the full merit gate (4.5+ stars, 10+ verified reviews in 24 months, 5+ years experience). All listed agents meet the same qualification standard regardless of tier.
5 stars[2][3]
30+ reviews[2][3]
Lic #SA661174000[1]
HomeSmart Elite Group
Contact
Phone: (480) 332-7296
Email: rwswan@gmail.com
Website: https://TheSwanTeamAZ.com
Zillow: https://www.zillow.com/profile/RyanSwan
10+ years experience[1]
150+ career transactions[2]
This agent passed the full merit gate (4.5+ stars, 10+ verified reviews in 24 months, 5+ years experience). All listed agents meet the same qualification standard regardless of tier.
5 stars[2][3]
20+ reviews[2][3]
Lic #SA569942000[1]
RedRockRealtor - RE/MAX
Contact
Phone: (928) 274-8769
Email: brandon@brandonmena.com
Website: http://www.redrockrealtor.com
Zillow: https://www.zillow.com/profile/RedRockRealtor
20+ years experience[1]
340+ career transactions[2]
This agent passed the full merit gate (4.5+ stars, 10+ verified reviews in 24 months, 5+ years experience). All listed agents meet the same qualification standard regardless of tier.
5 stars[2][3]
10+ reviews[2][3]
Lic #SA672793000[1]
Barrett Real Estate
Contact
Phone: (520) 219-3100
Email: joelgoldsmithrealty@gmail.com
Website: https://joelgoldsmith.barrettre.com/
Zillow: https://www.zillow.com/profile/joelgoldsmithrealty
8+ years experience[1]
90+ career transactions[2]
This agent passed the full merit gate (4.5+ stars, 10+ verified reviews in 24 months, 5+ years experience). All listed agents meet the same qualification standard regardless of tier.
5 stars[2][3]
10+ reviews[2][3]
Lic #SA651647000[1]
Diane Strehlow West USA Realty
Contact
Phone: (480) 234-4544
Email: dianestrehlow@gmail.com
Website: http://dianestrehlowrealestate.com
Zillow: https://www.zillow.com/profile/dianestrehlow
28+ years experience[1]
60+ career transactions[2]
This agent passed the full merit gate (4.5+ stars, 10+ verified reviews in 24 months, 5+ years experience). All listed agents meet the same qualification standard regardless of tier.
5 stars[2][3]
10+ reviews[2][3]
Lic #SA543293000[1]
HomeSmart
Contact
Phone: (602) 284-0028
Email: hawleytobi@gmail.com
Website: http://www.tobi.realtor
Zillow: https://www.zillow.com/profile/Tobi-Hawley-CRS-GRI
22+ years experience[1]
90+ career transactions[2]
This agent passed the full merit gate (4.5+ stars, 10+ verified reviews in 24 months, 5+ years experience). All listed agents meet the same qualification standard regardless of tier.
5 stars[2][3]
10+ reviews[2][3]
Lic #SA643624000[1]
Keller Williams Realty East Valley
Contact
Phone: (602) 509-5533
Email: azbrookerealtor@gmail.com
Website: http://www.Look2Brooke.com
Zillow: https://www.zillow.com/profile/user9331896
13+ years experience[1]
210+ career transactions[2]
This agent passed the full merit gate (4.5+ stars, 10+ verified reviews in 24 months, 5+ years experience). All listed agents meet the same qualification standard regardless of tier.