Tempe has long been a sought-after city in the Phoenix metro area—and with good reason. But in 2025, rising home prices and competitive demand have made buyers wonder: What does $400,000 actually get you in Tempe today?
Whether you’re a first-time buyer, relocating for work, or downsizing with style, let’s break down what you can expect to find with a $400K budget in Tempe.
🏡 1. Modern Condos in Prime Locations
For around $400,000, Tempe offers updated 2–3 bedroom condos with community pools, covered parking, and proximity to Arizona State University, Tempe Town Lake, and the light rail.
Sample Listing (as of June 2025):
- $389,000 – 2 bed, 2 bath, 1,200 sq ft
- Gated community near ASU
- Resort-style pool, gym, HOA under $300/month
- Walkable to dining, transit, and shopping
Best areas: University Park, North Tempe, Apache Blvd corridor
🏘️ 2. Charming Townhomes in Central Tempe
Many townhomes and patio homes in Tempe are still priced around the $375K–$400K range and offer low-maintenance living with modern upgrades.
Sample Listing: Listing Here
- $369,900 – 2 bed, 2 bath, 1,191 sq ft
- Continental Villas E
- Close proximity to the freeway
Best areas: Tempe Marketplace, Tempe Center for the Arts, Papago Park
🏠 3. Entry-Level Single-Family Homes (Yes, Still Possible!)
While harder to find, single-family homes under $400K still exist, especially in older neighborhoods. Many of these homes are perfect for renovations or long-term equity growth and this one if freshly renovated.
Sample Listing: Listing Here
- $385,000 – 2 bed, 2 bath, 880 sq ft
- 1980s block home fully remodeled
- Great rental potential
- Located near ASU
Pro Tip: Look for homes labeled as “coming soon” or “back on market” for better chances.
🔎 What’s Driving the Market?
Tempe’s home values are being pushed up by:
- High demand from ASU students, staff, and investors
- Proximity to Scottsdale, Phoenix, and Chandler job hubs
- Limited housing supply
- Strong rental and resale market
Still, $400K can go farther in Tempe than in Scottsdale or Central Phoenix—especially if you’re open to a little creativity in your home search.
📈 Tips for Buyers Shopping in the $400K Range
- Act fast: Homes under $400K often receive multiple offers in days
- Get pre-approved so you can make strong offers quickly
- Be open to cosmetic updates—many homes in this range need light TLC
- Work with a local expert who knows off-market and pre-MLS opportunities
Final Thoughts: $400K Is Still a Power Budget in Tempe
While prices have risen in Tempe, $400,000 remains a powerful entry point in 2025—especially for those seeking low-maintenance homes, rental potential, or future appreciation.
From sleek condos to spacious townhomes and value-packed single-family homes, there’s still plenty of opportunity in today’s Tempe real estate market.
🗝️ Let’s Find Your Perfect Home in Tempe
If you’re ready to explore what $400K can buy in Tempe, I can help you find the best listings—both on and off the market. Let’s build a strategy to get you the most home for your budget.
📞 Contact me today to get started with your personalized Tempe home search.
