Everything You Need to Know About Living in Tempe, Arizona
Ready to move to the Grand Canyon State but unsure where you’ll fit? Or do you already live in Arizona but looking for a change of pace? Tempe is a fast-growing city with vibrant nightlife, varied housing options, and a growing job market– and may be exactly what you’re looking for.
So here’s a high-level overview of Tempe, giving you a lay of the land as you shop for your next home.
And Tempe happens to be where I live now– so here’s the inside scoop from your neighborhood realtor about the fresh, sunny city of Tempe!
Understanding Tempe
Tempe is located in the East Valley section of metropolitan Phoenix, the state capital. The population is about 184,000 and is in eastern Maricopa County. Founded in 1894, this city is a hub of cultural diversity and history.
Today, the median age of Tempe residents is 30 years old, almost ten years younger than the average age of Arizonans. With an urban/suburban feel, 60% of people rent their primary residence, with 40% owning their home.
Tempe has a booming job market, a fast-growing population, and a passion for arts, the environment, and entertainment. This cultural melting pot is truly a desert oasis for tourists, out-of-state transplants, and native Arizonans alike.
Income and Job Opportunities
With Arizona State University as a backdrop, start-ups, research firms, and Fortune 500 companies make up Tempe’s economic scene. Job growth predictions are promising, estimating a nearly 50% increase in jobs in the next ten years.
Tempe also boasts a lower unemployment rate than the national average (5.4% versus the US average of 6%).
The cost of living is 4.9% higher than the national average, according to Salary.com. Grocery prices, however, are currently in line with national average prices.
The current median home price of $500,000 for single-family homes, a median sales price of $345,000 for townhomes/condos, and a monthly median rent price of $1,975, according to the February 2023 ARMLS report.
School Districts and Education
There are three public school districts in Tempe, including the Tempe Elementary School District, Kyrene School District, and Tempe Union High School District. Private schools, special-interest schools, and higher education institutions are widely available.
Tempe is also home to Arizona State University, bringing the vibrancy of college life, sports, and art to the whole city.
Now, as a realtor, I’m not allowed to give my personal opinions on schools and school districts. But I always recommend visiting trusted sites to help inform your housing decisions if you have school-age children living with you. Niche.com and GreatSchools.org are two of my favorites!
Real Estate Trends and Projections
With a population increase of 21% since 2010, this city is one of the fastest-growing areas in the Phoenix Metro and one of the highest populated areas in the state. Out-of-state migration is a significant contributing factor to Tempe’s population surge, with Washington and California supplying most interstate relocations.
Tempe includes a diverse array of building styles and sizes, including ranch styles, single-family homes, townhomes, condos, and multifamily dwellings. You’ll also find a mix of old and new developments, although single-family homes are currently not being built in Tempe.
Like much of Arizona, Tempe's average home prices have gone up steadily over the last few years. As of March 2023, the average price for a single-family home is $528,483. And the lack of new single-family builds is contributing to rising home prices.
But that doesn’t mean that there aren’t new housing options being built in Tempe. Residential new construction development is currently focused on vertical housing solutions, including townhomes, condos, and multifamily dwellings.
Commercial developments are also booming in north Tempe, along Tempe Town Lake and the ASU campus.
Night Life and Sports
Tempe is well-known for its thriving night scene, particularly along the famous Mill Avenue in Downtown Tempe. You’ll find rooftop bars, local breweries, festivals celebrating the city’s diverse cultures, art installations, and plenty of sporting opportunities.
Catch an Angels spring training baseball game in the Tempe Diablo Stadium, or tailgate with other loyal ASU football fans! You’ll also find many opportunities to play your sport of choice, with sports fields available in many parks and a great indoor rec center at Kiwanis Park.
Parks and Recreation
Tempe offers a wide variety of outdoor parks, zoos, and gardens, perfect to make the most out of sunny Arizona. Some of my favorites include:
Tempe Town Lake: This beautiful lake is in the heart of Tempe and is one of Arizona’s most visited tourist locations. It’s two miles long, crisscrossed with bridges, and central to events and celebrations all year.
Papago Park: Papago Park is a great escape into nature while still being only a short trip from the Phoenix metro area. Enjoy the gorgeous hiking trails around the red buttes and the famous Hole-in-the-Rock Trail.
Phoenix Zoo: Minutes from downtown Tempe, the Phoenix Zoo is home to a wide variety of animals and includes a thriving conservation program.
Desert Botanical Garden: This garden proudly displays native desert-plant life, provides education on conserving water while growing beauty, and hosts events to support local farmers working the Arizona desert.
Kiwanis Park: Tempe’s Kiwanis Park spans 125 acres and includes a 12-acre lake. The park offers kayak and pedal boat rentals, a splash pad for young children, an indoor recreation center, and many sporting fields.
Tempe Marketplace: This mega-sized retail center doesn’t just have all the stores and restaurants you need for the perfect weekend day trip. It highlights an outdoor environment, complete with water features, pop-up art, and laser light displays.
Public Transportation Options
You’ll find a wide variety of public transportation options as you commute across the city:
Buses: Travel most major streets on the 13 public bus routes, 2 express routes, a free Flash route, or six of the free Orbit neighborhood routes daily all year.
Light Rail: The light rail runs daily all year long with 9 stops in Tempe.
Tempe Streetcar: The Tempe Streetcar system serves about 3 miles of Downtown Tempe, with 14 stops and arriving every 15-20 minutes.
Ready to Move to Tempe?
I love living in Tempe! I’ve lived in Arizona my whole life, and Tempe has been a wonderful city. So let a local pro show you around and find the best fit for you in Tempe!
Send me an email today at Realtor@StephanieHernandez.com
