Surprise, Arizona Housing Market Prices
Surprise 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 15% above the Arizona median$424,328
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Median rent 30% above the Arizona median$2,008
Housing Market Overview
| Metric | Surprise | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $424,328 | $367,851 | $248,835 |
| Price Trend (Annual %) | 12.9% | 11.9% | 7.5% |
| Median Gross Rent | $2,008 | $1,543 | $1,407 |
| Rent Trend (Annual %) | 6.8% | 6.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Surprise is about 15% higher than in Arizona. Rent is about 30% 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 Surprise, up about 12.9% and 6.8% a year respectively. Home prices are changing faster.
Median rent in Surprise rose about 70.6% between 2015 and 2024, from $1,177 to $2,008. Over the same span, rent in Arizona rose about 69.1%.
Affordability
On average, housing unit costs 4.5 yearly household incomes in Surprise.
Buying the median-priced home in Surprise costs roughly 17.6 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 Surprise. The price-to-rent ratio in Arizona is about 19.9.
| Metric | Surprise | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $424,328 | $367,851 | $248,835 |
| Median Household Income | $94,681 | $80,381 | $80,455 |
| Price-to-Income Ratio | 4.5 | 4.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Surprise rose about 150.0%, while median household income rose about 43.6% 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 | Surprise | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.6% | 60.3% | 58.5% |
| Rental Rate | 18.8% | 29.2% | 31.2% |
| Vacancy Rate | 9.6% | 10.6% | 10.2% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Surprise has a homeownership rate of 71.6%, higher than the Arizona average of 60.3%. Its housing vacancy rate is 9.6%, compared with 10.6% in Arizona.
Housing Stock
| Metric | Surprise | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.70 people | 2.53 people | 2.53 people |
| Median Structure Built Year | 2005 | 1991 | 1978 |
| Median Number of Rooms | 5.8 | 5.3 | 5.5 |
The typical housing unit in Surprise was built around 2005. On average, 2.7 people live in a home with about 5.8 rooms, staying for about 11.0 years on average.
Surprise, AZ Housing Compared With Nearby Cities
How Surprise, AZ compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Surprise, AZ | 150,965 | $424,328 #1/2 | $2,008 #1/2 | 79.2% #2/2 |
| Sun City West, AZ | 25,067 | $404,892 | $1,650 | 88.4% |
Frequently Asked Questions
Common questions about the housing market in Surprise, Arizona.
What is the median home price in Surprise, Arizona?
The median home price in Surprise, Arizona is $424,328, higher than the Arizona average of $367,851.
What is the average home price in Surprise, Arizona?
The typical home price in Surprise, Arizona, reported as the median sale price, is $424,328. 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 Surprise, Arizona?
The median gross rent in Surprise, Arizona is $2,008 per month, higher than the Arizona average of $1,543.
What was the median gross rent in Surprise in 2020?
In 2020, the median gross rent in Surprise, Arizona was $1,436 per month.
What is the price-to-rent ratio in Surprise, Arizona?
The price-to-rent ratio in Surprise, Arizona is about 17.6, meaning it would take roughly 17.6 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 Surprise.
Are home prices or rent rising faster in Surprise, Arizona?
Both home prices and rent are rising in Surprise, up about 12.9% and 6.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Surprise, Arizona?
71.6% of households in Surprise, Arizona own their home, higher than the Arizona average of 60.3%.
What is the vacancy rate in Surprise, Arizona?
The housing vacancy rate in Surprise, Arizona is 9.6%, lower than the Arizona average of 10.6%.
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