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Home Property Tips :: Tempe AZ Real Estate
Tempe AZ Real Estate: Researching Real Estate in Tempe, AZ
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Situated between Scottsdale, Mesa and Phoenix, Tempe AZ real estate is in a prime central location in the greater Phoenix area.
With its year-long sunny weather, Arizona landscapes, scenic Salt River and close proximity to Phoenix, the area attracts a great mix of residents.
If you're considering purchasing real estate in Tempe, keep reading for more information on housing values, community demographic statistics and local amenities.
Median Home Values in Tempe, AZ
According to the MLS listing service, the median home price for Tempe, AZ real estate is currently sitting at $275,000. Certain areas on the Salt River and bordering Scottsdale will post a higher median of around $420,000.
Community Demographics in Tempe, AZ
Tempe's population of 169,712 people has a median age of just 31 years old and a median family income of just over $45,000.
The unemployment rate sits at a little over 4 percent and the cost of living is about 33 percent higher than the national average.
Approximately 14.3 percent of Tempe residents live below the poverty line, but this statistic may be skewed thanks to the large student population from Arizona State University, which is based in Tempe.
Local Amenities in Tempe, AZ
Aside from extensive transit systems like the Valley Metro bus routes and the upcoming Metro Light Rail System, nearby access to the Phoenix Sky Harbor Airport, and the free shuttles to Arizona State University - Tempe offers its residents some incredible support options when it comes to home ownership.
The City of Tempe Down Payment Assistance Program, also known as the Community Assisted Mortgage Program (CAMP) gives loans to low-income households and first-time home buyers who want to purchase a primary residence within the city boundaries.
The loans are available for closing costs, down payment assistance and even moving expenses.
Prospective homeowners are eligible for up to $35,000 and those earning less than 60% of the Area Median Income (AMI) are eligible for an additional $10,000.
It's programs like these make Tempe, AZ real estate exceptionally attractive to first-time home buyers.
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HomePropertyTips.com :: Tempe AZ Real Estate