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 | Sun City | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $279,163 | $340,223 | $242,182 |
| Price Trend (Annual %) | 14.0% | 12.4% | 8.2% |
| Median Gross Rent | $1,479 | $1,430 | $1,342 |
| Rent Trend (Annual %) | 5.7% | 6.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sun City is about 18% lower than in Arizona. Rent is about 3% higher 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 Sun City, up about 14.0% and 5.7% a year respectively. Home prices are changing faster.
Median rent in Sun City rose about 51.3% between 2015 and 2023, from $978 to $1,479. Over the same span, rent in Arizona rose about 56.7%.
Affordability
On average, housing unit costs 5.4 yearly household incomes in Sun City.
Buying the median-priced home in Sun City costs roughly 15.7 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 Sun City. The price-to-rent ratio in Arizona is about 19.8.
| Metric | Sun City | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $279,163 | $340,223 | $242,182 |
| Median Household Income | $52,161 | $77,100 | $78,145 |
| Price-to-Income Ratio | 5.4 | 4.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Sun City rose about 126.4%, while median household income rose about 44.5% 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 | Sun City | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.9% | 59.6% | 58.2% |
| Rental Rate | 17.8% | 29.4% | 31.3% |
| Vacancy Rate | 14.3% | 11.0% | 10.6% |
| Median Tenure (years) | 12.0 | 13.0 | 15.0 |
| Median Year Moved In | 2014 | 2013 | 2011 |
Sun City has a homeownership rate of 67.9%, higher than the Arizona average of 59.6%. Its housing vacancy rate is 14.3%, compared with 11.0% in Arizona.
Housing Stock
| Metric | Sun City | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.76 people | 2.54 people | 2.54 people |
| Median Structure Built Year | 1974 | 1990 | 1978 |
| Median Number of Rooms | 5.2 | 5.3 | 5.5 |
The typical housing unit in Sun City was built around 1974. On average, 1.8 people live in a home with about 5.2 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Sun City, Arizona.
What is the median home price in Sun City, Arizona?
The median home price in Sun City, Arizona is $279,163, lower than the Arizona average of $340,223.
What is the average home price in Sun City, 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 Sun City, Arizona?
The median gross rent in Sun City, Arizona is $1,479 per month, higher than the Arizona average of $1,430.
What was the median gross rent in Sun City in 2020?
In 2020, the median gross rent in Sun City, Arizona was $1,161 per month.
What is the price-to-rent ratio in Sun City, Arizona?
The price-to-rent ratio in Sun City, Arizona is about 15.7, meaning it would take roughly 15.7 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 Sun City.
Are home prices or rent rising faster in Sun City, Arizona?
Both home prices and rent are rising in Sun City, up about 14.0% and 5.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Sun City, Arizona?
67.9% of households in Sun City, Arizona own their home, higher than the Arizona average of 59.6%.
What is the vacancy rate in Sun City, Arizona?
The housing vacancy rate in Sun City, Arizona is 14.3%, higher than the Arizona average of 11.0%.