Mesa, Arizona Housing Market Prices
Mesa Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 16% below the Arizona median$308,232
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Median rent 5% above the Arizona median$1,616
Housing Market Overview
| Metric | Mesa | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $308,232 | $367,851 | $248,835 |
| Price Trend (Annual %) | 9.1% | 11.9% | 7.5% |
| Median Gross Rent | $1,616 | $1,543 | $1,407 |
| Rent Trend (Annual %) | 7.6% | 6.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mesa is about 16% lower than in Arizona. Rent is about 5% higher than the Arizona average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Mesa, up about 9.1% and 7.6% a year respectively. Home prices are changing faster.
Median rent in Mesa rose about 84.2% between 2015 and 2024, from $877 to $1,616. Over the same span, rent in Arizona rose about 69.1%.
Affordability
On average, housing unit costs 3.8 yearly household incomes in Mesa.
Buying the median-priced home in Mesa costs roughly 15.9 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Mesa. The price-to-rent ratio in Arizona is about 19.9.
| Metric | Mesa | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $308,232 | $367,851 | $248,835 |
| Median Household Income | $81,616 | $80,381 | $80,455 |
| Price-to-Income Ratio | 3.8 | 4.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Mesa rose about 115.0%, while median household income rose about 57.2% between 2009 and 2025 — 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 | Mesa | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.3% | 60.3% | 58.5% |
| Rental Rate | 31.5% | 29.2% | 31.2% |
| Vacancy Rate | 11.2% | 10.6% | 10.2% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Mesa has a homeownership rate of 57.3%, lower than the Arizona average of 60.3%. Its housing vacancy rate is 11.2%, compared with 10.6% in Arizona.
Housing Stock
| Metric | Mesa | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.53 people | 2.53 people |
| Median Structure Built Year | 1989 | 1991 | 1978 |
| Median Number of Rooms | 5.1 | 5.3 | 5.5 |
The typical housing unit in Mesa was built around 1989. On average, 2.5 people live in a home with about 5.1 rooms, staying for about 11.0 years on average.
Mesa, AZ Housing Compared With Nearby Cities
Mesa, AZ is the largest of the 5 cities compared here, 504,945 residents against a local median of 168,545. Where Mesa, AZ breaks from the cities next to it is median home price, sitting 41% below the local median of $521,949 at $308,232.
Median rent tells the same story from another angle: $1,616 against a local median of $2,003, 19% below it. The one measure here that carries a verdict is homeownership, and at 16% below the local median it puts Mesa, AZ at the weaker end of the local range. The cities themselves spread $677,049 on median home price, so Mesa, AZ sits at one end of an already wide local range rather than apart from it. Mesa, AZ has the 4th highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Mesa, AZ | 504,945 | $308,232 #4/5 | $1,616 #4/5 | 64.5% #4/5 |
| Gilbert, AZ | 272,475 | $567,335 | $2,109 | 73.1% |
| Apache Junction, AZ | 48,284 | $55,554 | $1,169 | 80.9% |
| Chandler, AZ | 269,220 | $476,562 | $1,897 | 64.3% |
| Queen Creek, AZ | 67,869 | $732,602 | $2,168 | 89.4% |
Frequently Asked Questions
Common questions about the housing market in Mesa, Arizona.
What is the median home price in Mesa, Arizona?
The median home price in Mesa, Arizona is $308,232, lower than the Arizona average of $367,851.
What is the average home price in Mesa, Arizona?
The typical home price in Mesa, Arizona, reported as the median sale price, is $308,232. 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 Mesa, Arizona?
The median gross rent in Mesa, Arizona is $1,616 per month, higher than the Arizona average of $1,543.
What was the median gross rent in Mesa in 2020?
In 2020, the median gross rent in Mesa, Arizona was $1,101 per month.
What is the price-to-rent ratio in Mesa, Arizona?
The price-to-rent ratio in Mesa, Arizona is about 15.9, meaning it would take roughly 15.9 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Mesa.
Are home prices or rent rising faster in Mesa, Arizona?
Both home prices and rent are rising in Mesa, up about 9.1% and 7.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Mesa, Arizona?
57.3% of households in Mesa, Arizona own their home, lower than the Arizona average of 60.3%.
What is the vacancy rate in Mesa, Arizona?
The housing vacancy rate in Mesa, Arizona is 11.2%, higher than the Arizona average of 10.6%.
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