Phoenix homes are up 45% since 2006. Inflation is up 66%.
Which means the typical Maricopa County home is worth less in real terms than it was twenty years ago. Buy in 2000 instead and the same house beat inflation handily. When you bought turns out to matter as much as where.
Maricopa County, all homes
850 places across Maricopa County.
Zillow Home Value IndexBLS CPI-UUS Census ACSSep 2026
Every ZIP in the county
Drag to pan · scroll to zoom · right-drag to tilt · open the full map
Values: Zillow Home Value Index, September 2026. Inflation: BLS Consumer Price Index (CPI-U, US city average, all items, NSA). Boundaries: US Census Bureau. Basemap: OpenFreeMap and OpenStreetMap. Historical, not a forecast.
In the news
Everyone quotes a number.
Phoenix prices have beaten inflation by 177%, or the typical home has lost 12% in real terms. Both are true. The difference is whether you start counting in 2000 or 2006 — which is all the buttons above do.
Some houses hold their value. Most don’t.
A lot of what sells on the edge of the Valley goes at a premium that quietly disappears once the next phase opens, and round-trip costs run eight to ten percent, so it can take years just to get back to where you started.
Older places closer in behave differently, and the reason is boring: there is a fixed number of them. Nobody is building another 1928 bungalow six minutes from downtown.
It also happens they’re the ones I like looking at. Probably not a coincidence.
I’d rather not end up selling your house for less than you owe on it.
Get in touch
Tell me what you’re looking at.
Happy to give you a second opinion on something you’ve already found, even if it turns out you don’t need me.
Got it. I’ll read it properly and come back to you inside a day.