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 | Fortuna Foothills | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $108,507 | $340,223 | $242,182 |
| Price Trend (Annual %) | 4.5% | 12.4% | 8.2% |
| Median Gross Rent | $1,188 | $1,430 | $1,342 |
| Rent Trend (Annual %) | 0.5% | 6.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fortuna Foothills is about 68% lower than in Arizona. Rent is about 17% 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 Fortuna Foothills, up about 4.5% and 0.5% a year respectively. Home prices are changing faster.
Median rent in Fortuna Foothills fell about 5.2% between 2015 and 2023, from $1,252 to $1,188. Over the same span, rent in Arizona rose about 56.7%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Fortuna Foothills.
Buying the median-priced home in Fortuna Foothills costs roughly 7.6 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Fortuna Foothills. The price-to-rent ratio in Arizona is about 19.8.
| Metric | Fortuna Foothills | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $108,507 | $340,223 | $242,182 |
| Median Household Income | $58,248 | $77,100 | $78,145 |
| Price-to-Income Ratio | 1.9 | 4.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Fortuna Foothills rose about 15.6%, while median household income rose about 33.0% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Fortuna Foothills | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.8% | 59.6% | 58.2% |
| Rental Rate | 11.8% | 29.4% | 31.3% |
| Vacancy Rate | 33.4% | 11.0% | 10.6% |
| Median Tenure (years) | 10.0 | 13.0 | 15.0 |
| Median Year Moved In | 2016 | 2013 | 2011 |
Fortuna Foothills has a homeownership rate of 54.8%, lower than the Arizona average of 59.6%. Its housing vacancy rate is 33.4%, compared with 11.0% in Arizona.
Housing Stock
| Metric | Fortuna Foothills | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.07 people | 2.54 people | 2.54 people |
| Median Structure Built Year | 1998 | 1990 | 1978 |
| Median Number of Rooms | 4.3 | 5.3 | 5.5 |
The typical housing unit in Fortuna Foothills was built around 1998. On average, 2.1 people live in a home with about 4.3 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Fortuna Foothills, Arizona.
What is the median home price in Fortuna Foothills, Arizona?
The median home price in Fortuna Foothills, Arizona is $108,507, lower than the Arizona average of $340,223.
What is the average home price in Fortuna 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 Fortuna Foothills, Arizona?
The median gross rent in Fortuna Foothills, Arizona is $1,188 per month, lower than the Arizona average of $1,430.
What was the median gross rent in Fortuna Foothills in 2020?
In 2020, the median gross rent in Fortuna Foothills, Arizona was $1,148 per month.
What is the price-to-rent ratio in Fortuna Foothills, Arizona?
The price-to-rent ratio in Fortuna Foothills, Arizona is about 7.6, meaning it would take roughly 7.6 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Fortuna Foothills.
Are home prices or rent rising faster in Fortuna Foothills, Arizona?
Both home prices and rent are rising in Fortuna Foothills, up about 4.5% and 0.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fortuna Foothills, Arizona?
54.8% of households in Fortuna Foothills, Arizona own their home, lower than the Arizona average of 59.6%.
What is the vacancy rate in Fortuna Foothills, Arizona?
The housing vacancy rate in Fortuna Foothills, Arizona is 33.4%, higher than the Arizona average of 11.0%.