Tucson Real Estate Market Overview
Average Monthly Rent:
$819
Percentage Change in Home Price/Value:
4.90%
Median Home Value:
$189,200
Best Time To Sell Home:
October
Affordability Index:
150.2
Days To Sell House:
62.75
Job Market:
Fair
Public School Ranking:
49
Location and Weather
Tucson lies along the Santa Cruz River on a hilly plain of the Sonoran Desert and bordered by the Santa Cataline and other mountains in southeastern Arizona. The city’s elevation is 2,410 feet and it is 115 miles southeast of Phoenix. The beauty of the Sonoran dessert brings people to Tucson for hiking, biking, and exploring. A great place to do those activities are its nearby national parks including the Saguaro National Parks East & West.
Tucson gets hot in the summer because it is a dessert. From late May to mid-September the average daily high temperature is above 94 degrees with evening lows in the mid 70’s. The cool season is from late November to late February with an average high below 72 degrees and lows in the low 40’s.
Population, Job Market and Cost of Living
The population in Tucson was 545,975 in 2018 with an annual growth rate of 0.77%. Its job market has increased by 2 percent over last year. The 10-year future growth is predicted to be 33.1%. The cost of living is moderate due to the Tucson real estate market which has affordable housing. The largest employers are Health Care & Social assistance, Retail Trade, and Educational Services. The major employers include the University of Arizona, ASARCO Recruiting, and TMC Healthcare.
With a spectacular desert backdrop complete with national parks, a warm climate, good job growth and a major university, Tucson will continue to attract tourists and residents alike to be in this beautiful city.
