Find Your Dream Home in Tempe, Arizona

Tempe sits at the heart of the Phoenix metro, offering an energetic urban lifestyle anchored by Arizona State University, Tempe Town Lake, and Mill Avenue. With its central location, diverse housing options, and unmatched walkability, Tempe attracts everyone from young professionals to empty nesters.

Why Buy a Home in Tempe?

Unbeatable location — Tempe borders Phoenix, Scottsdale, Mesa, and Chandler. The 101, 202, and I-10 freeways converge here, and the Valley Metro light rail runs right through town.

Tempe Town Lake — A 2-mile urban lake surrounded by parks, trails, restaurants, and entertainment. It’s the centerpiece of Tempe’s revitalized downtown and hosts events like the Ironman 70.3.

Culture and nightlife — Mill Avenue, ASU Gammage, Tempe Center for the Arts, and a thriving food scene make Tempe one of the most culturally rich cities in Arizona.

Popular Tempe Neighborhoods

South Tempe — Established neighborhoods near Kyrene schools with larger lots and mature landscaping. Homes from $400K-$700K.

Downtown / Mill Avenue — Urban condos and townhomes near ASU and the lake. Great for investors or professionals. $250K-$500K.

The Lakes — A classic Tempe community built around private lakes with resort-style amenities. Homes from $500K-$800K.

North Tempe — Close to Scottsdale and Old Town, with a mix of mid-century homes and newer infill projects. $350K-$600K.

Tempe Real Estate Market

Tempe’s central location and limited land for new construction keep values strong. The median home price is around $430K, with condos starting lower and lakefront properties commanding premiums. Investment properties near ASU remain popular for rental income.

Ready to make Tempe home? The RJH Homes Team knows the Tempe market inside and out. Whether you’re buying your first condo or selling a family home, contact us today or browse listings below.

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Tempe at a Glance: 2026

Category	Detail
Population	~185,000
Median Home Price	~$460,000
School Districts	Tempe Union, Kyrene (A-rated), Tempe Elementary
Major Employer	Arizona State University (~15,000 employees)
Commute to Phoenix	15-20 min via I-10 / Light Rail
Known For	ASU, Tempe Town Lake, walkability, light rail

Sources: U.S. Census Bureau, Zillow, Walk Score

Frequently Asked Questions About Tempe, Arizona

Is Tempe just a college town?

Tempe is far more than a college town — roughly 70% of residents are not ASU students, and the city offers some of the most walkable, transit-connected, and culturally rich living in the entire Phoenix metro. While ASU is Tempe’s anchor institution, the city has distinct neighborhoods that serve families, professionals, and retirees. South Tempe offers quiet family living with Kyrene schools. Tempe Town Lake attracts young professionals. Mill Avenue has matured beyond its student reputation into a dining and entertainment district.

How much are homes in Tempe AZ?

The median home price in Tempe is approximately $460,000, with condos near ASU starting around $200,000 and South Tempe single-family homes reaching $700,000+. Tempe’s pricing reflects its central location and unique livability. Condos and townhomes near ASU are affordable but come with student-area noise and parking challenges. South Tempe single-family homes command premiums for their Kyrene school access and quiet residential character.

What are the best neighborhoods in Tempe?

The best Tempe neighborhoods are South Tempe (families with Kyrene schools), Tempe Town Lake area (young professionals), Maple-Ash (established charm), and Warner Ranch (master-planned community). South Tempe south of Baseline Road is the family favorite with larger lots, mature trees, and top-rated Kyrene schools. The Tempe Town Lake area offers modern condos and urban living. Maple-Ash is a historic neighborhood with character homes near downtown. Each neighborhood serves a different lifestyle.

Is Tempe a good investment property market?

Tempe is one of the best rental investment markets in Arizona, with ASU’s 70,000+ students creating year-round rental demand and low vacancy rates. Cap rates for single-family rentals in Tempe typically run 4.5-5.5%. Properties near ASU attract student renters (higher turnover but higher per-bedroom rent), while South Tempe attracts stable family renters. Tempe’s strict short-term rental regulations should be factored into any Airbnb investment strategy.

How is the commute from Tempe?

Tempe has the best commute access in the Phoenix metro — it’s 15 minutes to downtown Phoenix, connected by light rail, and borders both Scottsdale and Mesa. Tempe’s central location and Valley Metro Light Rail access make it unique in the car-dependent Phoenix metro. Many Tempe residents can commute by light rail to downtown Phoenix, Sky Harbor Airport, or Mesa. The I-10, US-60, Loop 101, and Loop 202 all run through or adjacent to Tempe.