Prescott Valley, Arizona Housing Market Prices
Prescott Valley 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 2% below the Arizona median$359,457
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Median rent 2% above the Arizona median$1,568
Housing Market Overview
| Metric | Prescott Valley | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $359,457 | $367,851 | $248,835 |
| Price Trend (Annual %) | 13.2% | 11.9% | 7.5% |
| Median Gross Rent | $1,568 | $1,543 | $1,407 |
| Rent Trend (Annual %) | 7.7% | 6.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Prescott Valley is about 2% lower than in Arizona. Rent is about 2% 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 Prescott Valley, up about 13.2% and 7.7% a year respectively. Home prices are changing faster.
Median rent in Prescott Valley rose about 82.4% between 2015 and 2024, from $860 to $1,568. Over the same span, rent in Arizona rose about 69.1%.
Affordability
On average, housing unit costs 5.0 yearly household incomes in Prescott Valley.
Buying the median-priced home in Prescott Valley costs roughly 19.1 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 Prescott Valley. The price-to-rent ratio in Arizona is about 19.9.
| Metric | Prescott Valley | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $359,457 | $367,851 | $248,835 |
| Median Household Income | $72,408 | $80,381 | $80,455 |
| Price-to-Income Ratio | 5.0 | 4.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Prescott Valley rose about 172.4%, while median household income rose about 51.7% 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 | Prescott Valley | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.8% | 60.3% | 58.5% |
| Rental Rate | 27.4% | 29.2% | 31.2% |
| Vacancy Rate | 5.8% | 10.6% | 10.2% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Prescott Valley has a homeownership rate of 66.8%, higher than the Arizona average of 60.3%. Its housing vacancy rate is 5.8%, compared with 10.6% in Arizona.
Housing Stock
| Metric | Prescott Valley | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.35 people | 2.53 people | 2.53 people |
| Median Structure Built Year | 1999 | 1991 | 1978 |
| Median Number of Rooms | 5.2 | 5.3 | 5.5 |
The typical housing unit in Prescott Valley was built around 1999. On average, 2.3 people live in a home with about 5.2 rooms, staying for about 11.0 years on average.
Prescott Valley, AZ Housing Compared With Nearby Cities
How Prescott Valley, AZ compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Prescott Valley, AZ | 43,236 | $359,457 #2/2 | $1,568 #1/2 | 70.9% #1/2 |
| Prescott, AZ | 40,453 | $412,952 | $1,443 | 67.6% |
Frequently Asked Questions
Common questions about the housing market in Prescott Valley, Arizona.
What is the median home price in Prescott Valley, Arizona?
The median home price in Prescott Valley, Arizona is $359,457, lower than the Arizona average of $367,851.
What is the average home price in Prescott Valley, Arizona?
The typical home price in Prescott Valley, Arizona, reported as the median sale price, is $359,457. 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 Prescott Valley, Arizona?
The median gross rent in Prescott Valley, Arizona is $1,568 per month, higher than the Arizona average of $1,543.
What was the median gross rent in Prescott Valley in 2020?
In 2020, the median gross rent in Prescott Valley, Arizona was $1,055 per month.
What is the price-to-rent ratio in Prescott Valley, Arizona?
The price-to-rent ratio in Prescott Valley, Arizona is about 19.1, meaning it would take roughly 19.1 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 Prescott Valley.
Are home prices or rent rising faster in Prescott Valley, Arizona?
Both home prices and rent are rising in Prescott Valley, up about 13.2% and 7.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Prescott Valley, Arizona?
66.8% of households in Prescott Valley, Arizona own their home, higher than the Arizona average of 60.3%.
What is the vacancy rate in Prescott Valley, Arizona?
The housing vacancy rate in Prescott Valley, Arizona is 5.8%, lower than the Arizona average of 10.6%.
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