Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Housing Market Overview
| Metric | Catalina Foothills | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $564,239 | $340,223 | $242,182 |
| Price Trend (Annual %) | 8.4% | 12.4% | 8.2% |
| Median Gross Rent | $1,374 | $1,430 | $1,342 |
| Rent Trend (Annual %) | 5.6% | 6.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Catalina Foothills is about 66% higher than in Arizona. Rent is about 4% lower than the Arizona average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Catalina Foothills, up about 8.4% and 5.6% a year respectively. Home prices are changing faster.
Median rent in Catalina Foothills rose about 50.2% between 2015 and 2023, from $915 to $1,374. Over the same span, rent in Arizona rose about 56.7%.
Affordability
On average, housing unit costs 5.0 yearly household incomes in Catalina Foothills.
Buying the median-priced home in Catalina Foothills costs roughly 34.2 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Catalina Foothills. The price-to-rent ratio in Arizona is about 19.8.
| Metric | Catalina Foothills | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $564,239 | $340,223 | $242,182 |
| Median Household Income | $113,182 | $77,100 | $78,145 |
| Price-to-Income Ratio | 5.0 | 4.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Catalina Foothills rose about 47.0%, while median household income rose about 37.3% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Catalina Foothills | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.0% | 59.6% | 58.2% |
| Rental Rate | 22.6% | 29.4% | 31.3% |
| Vacancy Rate | 12.4% | 11.0% | 10.6% |
| Median Tenure (years) | 14.0 | 13.0 | 15.0 |
| Median Year Moved In | 2012 | 2013 | 2011 |
Catalina Foothills has a homeownership rate of 65.0%, higher than the Arizona average of 59.6%. Its housing vacancy rate is 12.4%, compared with 11.0% in Arizona.
Housing Stock
| Metric | Catalina Foothills | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.11 people | 2.54 people | 2.54 people |
| Median Structure Built Year | 1984 | 1990 | 1978 |
| Median Number of Rooms | 6.1 | 5.3 | 5.5 |
The typical housing unit in Catalina Foothills was built around 1984. On average, 2.1 people live in a home with about 6.1 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Catalina Foothills, Arizona.
What is the median home price in Catalina Foothills, Arizona?
The median home price in Catalina Foothills, Arizona is $564,239, higher than the Arizona average of $340,223.
What is the average home price in Catalina Foothills, Arizona?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Catalina Foothills, Arizona?
The median gross rent in Catalina Foothills, Arizona is $1,374 per month, lower than the Arizona average of $1,430.
What was the median gross rent in Catalina Foothills in 2020?
In 2020, the median gross rent in Catalina Foothills, Arizona was $1,104 per month.
What is the price-to-rent ratio in Catalina Foothills, Arizona?
The price-to-rent ratio in Catalina Foothills, Arizona is about 34.2, meaning it would take roughly 34.2 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Catalina Foothills.
Are home prices or rent rising faster in Catalina Foothills, Arizona?
Both home prices and rent are rising in Catalina Foothills, up about 8.4% and 5.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Catalina Foothills, Arizona?
65.0% of households in Catalina Foothills, Arizona own their home, higher than the Arizona average of 59.6%.
What is the vacancy rate in Catalina Foothills, Arizona?
The housing vacancy rate in Catalina Foothills, Arizona is 12.4%, higher than the Arizona average of 11.0%.