Is Phoenix, AZ a good place to invest in rental property?

Phoenix, AZ has a median modeled monthly cash flow of $-1,178 and a median cap rate of 3.3%, on a median sold price of $459,990. Prices changed -1.1% year over year.

What is the average cap rate in Phoenix, AZ?

The median cap rate across recently sold homes in Phoenix, AZ is 3.3%, based on CashFlowRE's rent and expense modeling.

What is the median home price in Phoenix, AZ?

The median sold price in Phoenix, AZ is $459,990 (about $279 per square foot).

Investing in Phoenix, AZ Real Estate

A data-driven snapshot of the Phoenix, AZ rental-property market, built from recently sold homes and CashFlowRE's per-listing investment modeling — median price, cap rate, monthly cash flow, appreciation and inventory — so you can judge the market before you ever open a listing.

$459,990Median sold price

$279Median $/sqft

3.3%Median cap rate

$-1,178Modeled cash flow / mo

-1.1%Appreciation YoY

7.0Months of supply

9,296Active listings

16,017Sold (last 12 mo)

What the Phoenix numbers say

In Phoenix, AZ, the median home sold for $459,990 (about $279 per square foot), and the typical deal models out to a 3.3% cap rate with a median $-1,178 of monthly cash flow. Sold prices moved -1.1% over the past year. Inventory sits at about 7.0 months of supply. These are medians across recorded sales; individual properties vary widely, which is exactly what CashFlowRE scores listing by listing.

Other Arizona markets to compare

See Phoenix cash-flowing listings

CashFlowRE ranks every for-sale home in Phoenix, AZ by cap rate, cash-on-cash return, DSCR and monthly cash flow — so the best rental deals rise to the top. Create a free account to screen Phoenix deals, or browse the national market data.