New Homes in Tempe, AZ
Tempe is a bustling university town that’s quickly becoming one of the most developed locations in the Greater Phoenix area. It has an estimated population of 185,038 with a median income of $51,829. The city has a youthful vibe that derives from all the trendy shops, cool bars, nightclubs, and of course, Arizona State University.
As far as the cost of housing goes, houses in Tempe are reasonably priced considering its proximity to downtown Phoenix. The average house listing price is $237,200, while the average cost of rent is $1,056. Since about 45% of residents are people between 18 and 34 years of age, it’s no surprise that 60% of residents pay rent while 40% own their property. This is quite different compared to other Phoenix suburbs where the majority of residents own their home.
Why Move to Tempe, AZ
Mill Avenue serves as the central entertainment district where you can find plenty of ways to spend your free time. Right next to the busy downtown area is the Tempe Town Lake. Those who follow an active lifestyle will love spending time in this recreational hub. Not only does it offer spacious bike paths, but there are also very impressive kayaking and rowing opportunities. The park next to the lake is perfect for a weekend family picnic or jogging.
Because of the city’s rapid development, new homes in Tempe can be found on every corner. That being said, the type of housing you might find interesting will determine what part of the city you should focus your attention on. The northern area is more densely developed and consists of office spaces and condos. This is where you’ll discover Tempe’s up and coming dining scene where all the latest food trends reside.
The South, however, is much more tamed and consists of single-family houses and outdoor shopping malls. One of the biggest advantages of living here is the ease of access to the freeway.