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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Paradise Valley, AZ Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Paradise Valley, AZ Housing Market Trends

With a population of 12,606, 5,046 total housing units (homes and apartments), and a median house value of $3,050,378, Paradise Valley house prices are not only among the most expensive in Arizona, Paradise Valley real estate also is some of the most expensive in all of America.

Paradise Valley is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Paradise Valley than is found in 98% of the communities in America.

The large homes that make up Paradise Valley are primarily owner-occupied ( 94.72%).

There is a lot of housing in Paradise Valley built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Paradise Valley built between 2000 and later ( 23.29%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.53%).

Vacant housing appears to be an issue in Paradise Valley. Fully 13.15% of the housing stock is classified as vacant. Left unchecked, vacant Paradise Valley homes and apartments can be a drag on the real estate market, holding Paradise Valley real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Paradise Valley Home Appreciation Rates

In the last 10 years, Paradise Valley has experienced some of the highest home appreciation rates of any community in the nation. Paradise Valley real estate appreciated 172.16% over the last ten years, which is an average annual home appreciation rate of 10.53%, putting Paradise Valley in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Paradise Valley definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Paradise Valley's appreciation rate, at 6.03%, has been at or slightly above the national average. In the latest quarter, Paradise Valley's appreciation rate has been 1.82%, which annualizes to a rate of 7.49%.

Relative to Arizona, our data show that Paradise Valley's latest annual appreciation rate is higher than 60% of the other cities and towns in Arizona.

Average Home Values

Median Home Value

$3,050,378

Paradise Valley, AZ Home Prices
> $1,062,000
$796,001 - $1,062,000
$530,001 - $796,000
$424,001 - $530,000
$318,001 - $424,000
$212,001 - $318,000
$106,001 - $212,000
$53,001 - $106,000
$0 - $53,000
83.0%
83.0%
6.9%
6.9%
2.0%
2.0%
0.6%
0.6%
4.4%
4.4%
1.7%
1.7%
0.6%
0.6%
0.2%
0.2%
0.7%
0.7%
0% 100.0%
% of Homes
Very High

for Arizona

Very High

for nation

Number of Homes And Apartments:

5,046

Paradise Valley Appreciation Rates

Rent & Ownership

Average Market Rent:

$4,937 / per month

Homeownership Rate

Owners
Renters
94.7%
94.7%
5.3%
5.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
13.1%
13.1%
86.9%
86.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
23.3%
23.3%
54.2%
54.2%
22.5%
22.5%
0.0%
0.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
97.7%
97.7%
1.5%
1.5%
0.5%
0.5%
0.1%
0.1%
0.2%
0.2%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.4%
0.4%
0.5%
0.5%
5.0%
5.0%
21.9%
21.9%
48.4%
48.4%
23.8%
23.8%
0% 100.0%
% of Homes