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

Surprise, AZ has a median modeled monthly cash flow of $-1,092 and a median cap rate of 3.3%, on a median sold price of $420,000. Prices changed -3.8% year over year.

What is the average cap rate in Surprise, AZ?

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

What is the median home price in Surprise, AZ?

The median sold price in Surprise, AZ is $420,000 (about $225 per square foot).

Investing in Surprise, AZ Real Estate

A data-driven snapshot of the Surprise, 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.

$420,000Median sold price

$225Median $/sqft

3.3%Median cap rate

$-1,092Modeled cash flow / mo

-3.8%Appreciation YoY

10.0Months of supply

3,417Active listings

4,104Sold (last 12 mo)

What the Surprise numbers say

In Surprise, AZ, the median home sold for $420,000 (about $225 per square foot), and the typical deal models out to a 3.3% cap rate with a median $-1,092 of monthly cash flow. Sold prices moved -3.8% over the past year. Inventory sits at about 10.0 months of supply — a looser, buyer-friendly market. These are medians across recorded sales; individual properties vary widely, which is exactly what CashFlowRE scores listing by listing.

🔨 See 11 fix-and-flip deals in Surprise — listings where the estimated after-repair value beats list price + rehab.

Other Arizona markets to compare

See Surprise cash-flowing listings

CashFlowRE ranks every for-sale home in Surprise, 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 Surprise deals, or browse the national market data.