TEMPE, AZ REAL ESTATE & HOMES FOR SALE
Looking for a home in Tempe, Arizona? Tempe offers a one-of-a-kind combination of college-town energy, urban convenience, and established residential neighborhoods — all within minutes of downtown Phoenix and Phoenix Sky Harbor International Airport. Whether you're searching for a modern condo near Mill Avenue, a family home in the highly rated Kyrene School District in South Tempe, or an investment property near Arizona State University, the Penrose Team can help you navigate the Tempe real estate market and find a property that fits your lifestyle, goals, and budget.
As top real estate agents in Tempe, we specialize in helping buyers and sellers move through every step of the real estate transaction with clear guidance, strong market knowledge, and a calm, no-pressure approach. Whether you're buying your first home, selling a property, or relocating to the East Valley, our team provides the local expertise you need to make confident decisions in the Tempe housing market.
WHY PEOPLE LOVE LIVING IN TEMPE
COLLEGE-TOWN CULTURE MEETS ESTABLISHED NEIGHBORHOODS
Tempe sits at the geographic center of the Phoenix metro area, bordered by Phoenix to the west, Scottsdale to the north, and Mesa and Chandler to the east. The city is built around Arizona State University — one of the largest public universities in the country — which gives Tempe an unmistakable energy that blends academic culture, innovation, and a thriving local economy. Residents enjoy walkable districts, a robust public transit system including the Valley Metro Light Rail, and quick access to every corner of the Valley.
But Tempe is far more than a college town. South Tempe is home to some of the most sought-after family neighborhoods in the East Valley, with tree-lined streets, top-rated schools, and proximity to parks and recreation. Whether you're a first-time homebuyer, a growing family, or someone looking to downsize in a walkable urban setting, Tempe has neighborhoods that match virtually every lifestyle. The City of Tempe website provides comprehensive information on city services, neighborhoods, and community programs to help you explore what living here is really like.
Jobs, Employers & Commuting
Tempe's economy is powered by education, technology, finance, and healthcare, making it one of the strongest job markets in the Phoenix metro area. Major employers in and around Tempe include:
Arizona State University, the city's largest employer with multiple campuses and a growing research enterprise that attracts talent from around the world.
State Farm, which operates a major regional hub at Marina Heights along Tempe Town Lake — one of the largest office developments in the Southwest.
Insight Enterprises, a Fortune 500 technology company headquartered in Tempe.
A growing corridor of tech, finance, and professional services firms clustered along the Rio Salado and Loop 202 corridors, including offices for Amazon, Microsoft, and other national employers.
Tempe is one of the best-connected cities in the Valley. The Valley Metro Light Rail runs through the heart of the city, linking Downtown Tempe to Phoenix and Mesa. Drivers benefit from easy access to Loop 101, Loop 202, and I-10, plus proximity to Phoenix Sky Harbor International Airport — just minutes from most Tempe neighborhoods. For many buyers and sellers in the Tempe real estate market, commute time and transit access are deciding factors, and our team can help you match neighborhoods with where you work and how you get around.
Weather & Outdoor Living
With over 300 days of sunshine annually, Tempe is ideal for year-round outdoor living. The city has invested heavily in parks, lakes, and trail systems that give residents real quality of life — whether you're into running, cycling, paddleboarding, or just spending weekends outside with your family.
Signature outdoor destinations include Tempe Town Lake, a two-mile urban reservoir perfect for kayaking, rowing, and lakeside running; Papago Park, shared with Phoenix and home to the iconic Hole-in-the-Rock formation, the Desert Botanical Garden, and the Phoenix Zoo; and Kiwanis Park, a favorite South Tempe destination with a wave pool, fishing lake, playgrounds, and ball fields. Hikers and trail runners can tackle Hayden Butte ("A" Mountain) right in the center of town for panoramic views of the Valley.
If you're looking for a home in Tempe, the Penrose Team can help you find neighborhoods that match the way you actually live — whether that's walking distance to Town Lake, a short bike ride from campus, or backing up to South Mountain trails. Having a knowledgeable local real estate agent makes a real difference when lifestyle is a priority.
TEMPE NEIGHBORHOODS & LIFESTYLES
Tempe covers roughly 40 square miles, but the neighborhoods feel dramatically different depending on where you are. From walkable urban districts near ASU to quiet, tree-lined residential streets in South Tempe, buyers can choose from a wide variety of housing styles, price points, and lifestyles. Whether you are buying a home in Tempe or selling a home in Tempe, working with a top real estate agent who specializes in local neighborhoods can save you time, reduce stress, and help you find the best deal.
Downtown Tempe & Mill Avenue
Downtown Tempe and the Mill Avenue District provide:
A vibrant, walkable urban atmosphere featuring condos, townhomes, and modern apartments — ideal for professionals and investors who want to be close to dining, nightlife, and public transit.
Easy access to the Valley Metro Light Rail, making car-free commuting to Phoenix and Mesa practical for daily life.
Proximity to ASU's main campus, Tempe Town Lake, and the growing Rio Salado employment corridor, attracting both first-time homebuyers and real estate investors.
This area is an excellent choice for buyers who value walkability, nightlife, and urban convenience — and it's one of the most active segments of the Tempe real estate market.
South Tempe (Kyrene Corridor)
South Tempe is widely considered one of the most desirable family neighborhoods in the East Valley, and for good reason:
Access to the highly rated Kyrene School District and Tempe Union High School District, which are major draws for families buying a home in Tempe.
Established, tree-lined neighborhoods with larger lots, mature landscaping, and a quieter, suburban feel — a sharp contrast to the energy of Downtown Tempe.
Proximity to Kiwanis Park, community pools, local dining along Rural Road and Baseline, and easy freeway access via I-10 and Loop 101.
For buyers looking for a family-friendly neighborhood with strong schools, space, and long-term value, South Tempe is consistently at the top of the list. A trusted real estate agent in Tempe can help you compare streets, HOAs, and school boundaries so you make the right choice.
North Tempe & ASU Area
The neighborhoods north of University Drive and surrounding ASU's campus offer a different lifestyle:
A mix of mid-century single-family homes, updated bungalows, and newer infill construction that appeals to a broad range of buyers — from young professionals to investors.
Walking or biking distance to ASU, making this area attractive for faculty, staff, and anyone who works on or near campus.
Quick access to Scottsdale's shopping and dining via the Tempe-Scottsdale border along McClintock and Hayden roads.
If you're considering buying or selling property near ASU, having a real estate agent in Tempe who understands rental demand, zoning, and investment potential is especially valuable.
EVERYDAY LIFE IN TEMPE
DINING & NIGHTLIFE
Tempe's dining scene punches well above its weight, with a mix of longtime local favorites, chef-driven restaurants, and a craft brewery culture that's become a destination in its own right. Whether you're looking for a casual weeknight dinner or a special night out, you won't have to leave the city.
House of Tricks — a beloved Tempe institution tucked into two restored cottages, known for creative American cuisine and one of the best patios in the Valley.
Four Peaks Brewing Company — Tempe's iconic craft brewery in a converted creamery on 8th Street, a local landmark since 1996.
Postino WineCafe — the original Tempe location on Farmer Avenue helped launch this Arizona-born wine bar concept.
Casey Moore's Oyster House — a Tempe institution on 9th Street with a storied history, oysters, and a sprawling tree-shaded patio.
Pedal Haus Brewery — a Mill Avenue brewpub with a rooftop patio, craft beers, and a full menu that makes it a neighborhood staple.
For a broader look at Tempe's dining and entertainment options, explore Downtown Tempe and the Tempe Tourism dining guide for neighborhood-by-neighborhood recommendations.
Parks, Trails & Golf
Tempe, AZ invests heavily in parks and recreation, which is a major quality-of-life factor for people buying or selling a home here:
Tempe Town Lake is the centerpiece — a two-mile urban lake in the heart of the city offering kayaking, paddleboarding, rowing, running paths, and lakeside events throughout the year.
Papago Park borders Tempe and Phoenix, featuring easy-to-moderate hiking trails, the iconic Hole-in-the-Rock viewpoint, the Desert Botanical Garden, and the Phoenix Zoo.
Kiwanis Park in South Tempe is one of the Valley's best neighborhood parks, with a wave pool, fishing lake, tennis courts, and playgrounds.
The Tempe Parks & Recreation Department manages dozens of neighborhood parks, community centers, and sports programs throughout the city.
Golf enthusiasts have several options nearby, including Rolling Hills Golf Course, a city-operated course in South Tempe, along with easy access to courses throughout the East Valley in Scottsdale, Mesa, and Chandler.
Arts, Culture & Events
Tempe's arts and cultural scene benefits enormously from ASU's influence, giving the city a creative energy that sets it apart from other East Valley communities:
The Tempe Center for the Arts hosts live performances, gallery exhibitions, and community events right on the shore of Tempe Town Lake.
ASU Gammage, designed by Frank Lloyd Wright, is one of the premier Broadway touring venues in the Southwest, bringing world-class productions to Tempe year-round.
The Tempe Festival of the Arts draws hundreds of thousands of visitors to Mill Avenue twice a year and is one of the top-rated outdoor art festivals in the country.
If you value live music, performing arts, and a strong sense of community, Tempe delivers — and having your home just minutes from these venues is a real lifestyle advantage that factors into many buying decisions.
FAQS ABOUT LIVING IN TEMPE, AZ
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Tempe is one of the most dynamic cities in the Phoenix metro area, offering a strong job market anchored by Arizona State University and major employers like State Farm and Insight Enterprises. Residents enjoy Tempe Town Lake, a vibrant dining and arts scene, and neighborhoods ranging from walkable urban districts to quiet, family-friendly streets in South Tempe. If you're considering buying or selling, partnering with a top real estate agent in Tempe who understands local market trends, school districts, and neighborhood specifics can help you find the best deal and navigate the process with confidence.
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Popular areas include Downtown Tempe and the Mill Avenue District for urban living, South Tempe's Kyrene Corridor for families seeking top-rated schools, and North Tempe for proximity to ASU and mid-century homes with character. Each neighborhood offers different price points, home styles, and lifestyle advantages. The Penrose Team can help you compare neighborhoods side by side so you understand the trade-offs between walkability, commute times, schools, and long-term value in the Tempe real estate market.
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Tempe is served by several school districts, with the Kyrene School District (elementary and middle school) and Tempe Union High School District being the most sought-after — particularly in South Tempe. School boundaries can vary block by block, and they're a major factor in home values and demand. A knowledgeable real estate agent in Tempe can help you identify properties within specific school boundaries so you're confident about where your kids will attend.
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Residents typically set up utilities through the City of Tempe Utilities portal, which covers water, sewer, and sanitation. Electric service is provided by either SRP (Salt River Project) or APS, depending on your address. During your home buying transaction, your lender and title company can help estimate monthly utility costs for specific properties, and the Penrose Team can provide additional neighborhood-level insights to help you budget accurately.
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Property taxes in Tempe are calculated based on your home's assessed value and reflect rates from Maricopa County, the City of Tempe, school districts, and other local entities. Arizona's property tax burden is generally lower than the national average, but actual amounts vary by neighborhood, home price, and which school district your property falls in. Your lender and title company can provide property-specific estimates during any real estate transaction, and we'll help you understand how those numbers fit into your long-term budget.
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Tempe is one of the most commuter-friendly cities in the Valley. The Valley Metro Light Rail runs through Downtown Tempe and connects to Phoenix and Mesa, while Loop 101, Loop 202, and I-10 provide quick freeway access in every direction. Phoenix Sky Harbor Airport is just minutes from most Tempe neighborhoods — a major advantage for frequent travelers. When you're choosing a neighborhood, we'll factor in commute patterns, transit access, and daily routines so your home actually works for your everyday life.
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Absolutely. We regularly assist clients relocating to Tempe and the East Valley from across the country. Our services include:
Arranging virtual consultations and immersive video tours.
Helping you compare neighborhoods such as Downtown Tempe, South Tempe, North Tempe, and nearby cities like Scottsdale and Mesa.
Connecting you with trusted local lenders, home inspectors, and reliable moving companies.
When you're ready, simply contact the Penrose Team and we'll develop a personalized relocation strategy that fits your timeline, budget, and wishlist.
START YOUR TEMPE HOME SEARCH
Ready to discover the best Tempe, Arizona real estate opportunities? Whether you're interested in a walkable condo near Mill Avenue and Tempe Town Lake, a family home in the sought-after Kyrene Corridor, or an investment property near ASU, the Penrose Team is here to be your trusted Tempe real estate agent team. Contact us today to arrange a friendly, no-pressure consultation, or explore Tempe homes for sale to view current listings, compare neighborhoods, and start moving toward your next home with confidence.
TEMPE REAL ESTATE MARKET SNAPSHOT
Tempe offers a diverse range of housing options, making it attractive for first-time homebuyers, growing families, investors, and anyone looking to buy or sell a home in the East Valley:
Condos and townhomes near Downtown Tempe, Mill Avenue, and the light rail corridor — ideal for buyers seeking a low-maintenance, walkable lifestyle with easy access to dining, transit, and employment centers.
Established single-family homes throughout South Tempe and Central Tempe, often on larger lots with mature landscaping and within the Kyrene School District — popular with families and move-up buyers.
Investment properties and multi-family housing near ASU, where rental demand remains strong year-round due to the university's enrollment of 70,000+ students.
The median home price in Tempe can vary significantly by neighborhood, property age, and proximity to ASU or major employment corridors. Market trends in Tempe tend to reflect the broader Phoenix metro housing market, but the city's central location, strong job base, and transit access give it unique demand drivers. If you're considering relocating or moving within the area, the Penrose Team — your trusted Tempe real estate agents — can help you compare Tempe with nearby cities like Scottsdale, Mesa, Phoenix, Gilbert, and Chandler so you choose the community that truly fits your lifestyle, budget, and long-term plans.
WORKING WITH THE PENROSE TEAM IN TEMPE
Buying or selling a home in Tempe is much easier when you work with top real estate agents who know the local market, neighborhoods, and housing trends:
Expert guidance on Tempe's distinct sub-markets, from Downtown condos to South Tempe family homes to ASU-area investment properties.
Experience with first-time homebuyers, move-up buyers, downsizers, sellers, and investors — plus condos, townhomes, single-family homes, and multi-family properties.
In-depth insight into HOA communities, school district boundaries, inspection considerations, and negotiation strategy for both buyers and sellers.
Clear, honest communication from your first conversation through closing and beyond.
We know that buying or selling a home is a major life decision. Our job is to make sure you feel informed, supported, and confident — never pressured. We'll walk you through each step of the home buying or selling process, explain your options in plain language, negotiate the best deal we can, and help you analyze the Tempe real estate market so you can make a smart, well-informed decision.
Ready to begin your Tempe real estate journey? Contact the Penrose Team to schedule a no-pressure consultation or browse Tempe homes for sale to explore current listings and get a feel for what's possible.
