Paradise Valley Arizona Area Home Supply Charts

This page looks at a variety of Paradise Valley Arizona housing market data taken from the most recent 2022 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Paradise Valley shows it has a Housing Units of 5,816 which is the second smallest in order of housing units of all the other places in the local area.

Figure 2 illustrates the housing density in the Paradise Valley housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Paradise Valley shows it has a Housing Density of 377.5 which is the smallest as measured by housing density of all the other places in the surrounding region. The city with the highest housing density in the area is Guadalupe which depicts a density of 2152.1 ( appreciably bigger). Comparing housing density to the United States average of 39.5, Paradise Valley is very much bigger. Also, versus the state of Arizona, housing density of 26.9, Paradise Valley is considerably bigger.

In Figure 4, Paradise Valley area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Paradise Valley depicts it has a Housing Unit Change of 3.1% which is less than most other places in the local area. The city with the highest change in the housing units in the area is Guadalupe which depicts a housing units of 25.7% ( very much bigger). Comparing change in the housing units to the United States average of 7.4%, Paradise Valley is approximately half the size. Also, measured against the state of Arizona, change in the housing units of 7.5%, Paradise Valley is approximately half the size.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Paradise Valley shows it has a Renter Percent of 6.1% which is the smallest in order of renter percent of all the other places in the metropolitan area. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 93.9% which is the largest of all places in the greater Paradise Valley region.

Paradise Valley Arizona Home Cost Charts

Looking at the housing data provided in Figure 7, the average Paradise Valley home price is illustrated for this community and a useful analysis of affordable housing. Paradise Valley indicates it has a Median Home Value of $1,778,000 which is ranked #1 of all places in the greater Paradise Valley region. Figure 8 provides aggregate comparative data for the Paradise Valley Arizona metro area in terms of the median housing rental rate, apartment rent, etc. Paradise Valley shows it has a Median Gross Rent of $3,452 which is the largest of all places in the greater Paradise Valley region. Comparing rental rates to the United States average of $1,163, Paradise Valley is approximately 3.0 times bigger. Also, compared to the state of Arizona, rental rates of $1,172, Paradise Valley is approximately 2.9 times bigger.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Paradise Valley has the smallest proportion of home price worth less than $50,000 at 0% of the total. Second, it has the smallest proportion of home price worth between $50,000 to $100,000 at 2% of the total. Third, it has the smallest proportion of home price worth between $100,000 to $200,000 at 5% of the total. Also, it has the smallest proportion of home price worth between $200,000 to $300,000 at 1% of the total. In addition, it has the smallest proportion of home price worth between $300,000 to $400,000 at 1% of the total. Furthermore, it has the largest proportion of home price worth between $750,000 to $1,000,000 at 17% of the total and is ranked #1. Next it has the largest proportion of home price worth between $1,000,000 to $1,500,000 at 17% of the total and is ranked #1. Additionally, it has the largest proportion of home price worth between $1,500,000 to $2,000,000 at 17% of the total and is ranked #1.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Paradise Valley depicts it has a Median Owner Cost of $3,106 which is ranked #1 of all places in the greater Paradise Valley region. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Paradise Valley metro area. it has a Owner Cost as % of HH Income of 16% which is the second smallest when ranked by cost as a percent of household income of all the other places in the surrounding region. The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Paradise Valley shows it has a Median Home Value as Percent of Median Earnings of 1273% which is the largest of all places in the greater Paradise Valley region.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) Paradise Valley depicts it has a Median Owner Costs-With Mortgage of $4,001 which is the highest of all places in the local area. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $1,501 which is more than all other places in the greater Paradise Valley region.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Paradise Valley has the smallest proportion of owner cost less than $300 at 2% of the total. Second, it has the smallest proportion of owner cost between $300 and $500 at 2% of the total. Third, it has the smallest proportion of owner cost between $500 and $700 at 6% of the total. Also, it has the smallest proportion of owner cost between $700 and $1,000 at 11% of the total. In addition, it has the largest proportion of owner cost between $3,000 and $3,500 at 7% of the total and is ranked #1. Furthermore, it has the largest proportion of owner cost between $3,500 and $4,000 at 40% of the total and is ranked #1.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Paradise Valley depicts it has a % of Income Owner Costs-With Mortgage of 22% which is the largest of all places in the greater Paradise Valley region. Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. Paradise Valley shows it has a % of Income Owner Costs-No Mortgage of 9% which is the second most cost as a percent of household income of all the places in the greater Paradise Valley region. The city with the highest cost as a percent of household income in the area is Guadalupe which shows a cost as a percent of household income of 15% (68.9% larger).

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Paradise Valley has the percentage of rent as a percent of income is less than 10 pct less than most other places in the greater region at 17% of the total. Second, it has the smallest proportion of rent as a percent of income is between 10pct to 20pct at 8% of the total. Third, it has the smallest proportion of rent as a percent of income is between 30pct to 40pct at 3% of the total. Also, it has the second smallest when ranked by rent as a percent of income is less than 10 pct of all the other places in the metropolitan area when ranked by rent as a percent of income is between 40pct to 50pct at 17% of the total.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Paradise Valley has the smallest proportion of housing cost less than $300 at 2% of the total. Second, it has the smallest proportion of housing cost between $300 and $500 at 2% of the total. Third, it has the smallest proportion of housing cost between $500 and $700 at 6% of the total. Also, it has the smallest proportion of housing cost between $700 and $1,000 at 11% of the total. In addition, it has the largest proportion of housing cost between $2,500 and $3,000 at 50% of the total and is ranked #1.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $8,817 which is the highest of all places in the greater Paradise Valley region. Comparing median real estate taxes paid to the United States average of $2,690, Paradise Valley is approximately 3.3 times bigger. Also, in contrast to the state of Arizona, median real estate taxes paid of $1,648, Paradise Valley is markedly bigger.

Figure 22 shows the percentage of renters who pay for utilities in Paradise Valley Arizona. This is calculated as the percent of renters who pay separately for utilities versus the people who have utilities included as part of amenities. Paradise Valley has the largest proportion of pay extra for utilities at 17% of the total and is ranked #1.

Figure 23 shows the rental rate distribution for this area. Paradise Valley Arizona has the smallest proportion of rent between 500 and 750 dollars at 3% of the total. Second, it has the smallest proportion of rent between 750 and 1000 dollars at 6% of the total. Third, it has the smallest proportion of rent between 1000 and 1500 dollars at 3% of the total. Also, it has the largest proportion of rent between $1,500 and $2,500 at 23% of the total and is ranked #1. In addition, it has the largest proportion of rent between $2,500 and $3,500 at 35% of the total and is ranked #1.

Paradise Valley Arizona Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Paradise Valley has the smallest proportion of With mortgage at 51% of the total. Second, it has the largest proportion of No 2nd Mortgage or HELOC at 8% of the total and is ranked #1. Third, it has the largest proportion of With Multiple Mortgages at 1% of the total and is ranked #1. Also, it has one of the largest proportions of With HELOC no Primary Mortgage at 40% of the total and is ranked #2. The only larger city being Guadalupe with 42%.

Paradise Valley Arizona Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 2.8 which is less than most other places in the metropolitan area. The city with the highest family members per housing unit in the area is Guadalupe which shows a family members per housing unit of 4.0 (42.6% larger). Comparing family members per housing unit to the United States average of 3.3, Paradise Valley is about 17.9% smaller. Also, measured against the state of Arizona, family members per housing unit of 3.3, Paradise Valley is about 16.8% smaller.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 10.0 which is more than all other places in the greater Paradise Valley region. Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1985 which is the third most year built of all other places in the greater Paradise Valley region. The city with the highest year built in the area is Fountain Hills which shows a year built of 1993 ( about the same size).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. has the percentage of homes built between 2000 to 2009 less than most other places in the metro area at 19% of the total.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. has the smallest proportion of owner housing units at 309 of the total.

Figure 33 shows the difference in the number of housing units based on whether they are occupied by owners or renters. has the smallest proportion of one unit detached at 2% of the total. Second, it has the smallest proportion of 2 units at 0% of the total. Third, it has the smallest proportion of 5 to 9 units at 0% of the total. Also, it has the smallest proportion of 10 to 19 units at 0% of the total.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has the largest proportion of value of homes built 2014 or later at $2,000,001 of the total and is ranked #1. Second, it has the largest proportion of value of homes built 2010 to 2013 at $2,000,001 of the total and is ranked #1. Third, it has the largest proportion of value of homes built 2000 to 2009 at $1,676,800 of the total and is ranked #1. Also, it has the largest proportion of value of homes built 1990 to 1999 at $1,903,700 of the total and is ranked #1. In addition, it has the largest proportion of value of homes built 1980 to 1989 at $1,502,200 of the total and is ranked #1. Furthermore, it has the largest proportion of value of homes built 1970 to 1979 at $1,658,700 of the total and is ranked #1. Next it has the largest proportion of value of homes built 1960 to 1969 at $1,162,800 of the total and is ranked #1.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Paradise Valley residents. it has a Owner-Household Size of 2.5 which is in the mid point range of other places in the area. The city with the highest homeowner household size in the area is Guadalupe which shows a homeowner household size of 3.1 (23.3% larger).

Figure 37 shows the household size for renters. Paradise Valley shows it has a Renter-Household Size of 2.5 which is the third most renter household sizes of all other places in the greater Paradise Valley region. The city with the highest renter household size in the area is Guadalupe which depicts a renter household sizes of 3.5 (39.2% larger). Figure 38 shows the year that people who own homes moved into this region. has the percentage of owners moved in 2019 or later the second smallest in terms of owners moved in 2019 or later of all the other places in the greater region at 16% of the total. Second, it has the largest proportion of owners moved in 2015 to 2018 at 26% of the total and is ranked #1. Figure 39 shows the year that people who rent moved into the area. Paradise Valley has the percentage of renters moved in 2019 or later the second smallest in order of renters moved in 2019 or later of all the other places in the local area at 39% of the total. Second, it has one of the largest proportions of renters moved in 2015 to 2018 at 24% of the total and is ranked #2. The only larger city being Fountain Hills with 27%.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2006 which is the second smallest when ranked by median year that a home owner moved in of all the other places in the surrounding region. Figure 41 compares the median year that renters moved into their home. Paradise Valley shows it has a Renter Median Year Moved In of 2017 which is the highest of all places in the local area.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. has the smallest proportion of home using bottled, tank, or lp gas at 50% of the total. Second, it has the largest proportion of home using electricity at 0% of the total and is ranked #1. Third, it has the largest proportion of homes using wood at 1% of the total and is ranked #1.

The next two charts show the number of people living in group quarters and includes temporary as well permanent housing which may be run by the Paradise Valley housing department, Arizona department, or other housing authority or public housing agency. beginning with Figure 43 which shows the total number of people. Paradise Valley depicts it has a Total In Group Quarters of 53 which is the second smallest when ranked by total people living in group quarters of all the other places in the local area.

Figure 44 shows the percentage of people who are living in group quarters to the total population for Paradise Valley residents (these may include colleges and jails but also community centers for homelessness or that require a housing choice voucher which are run by certain nonprofits or an affordable housing department.) Paradise Valley has the largest proportion of number of people under 18 years of age and in group quarters at 100% of the total and is ranked #1.