2024 · Arizona
Rental yield in Arizona
In 2024, the typical rental in Arizona produced a gross yield of 4.7% — $1,672/mo median rent against a $426K median home value, ranking 26th of 51 states.
4.7%
Gross rental yield
below the 4.9% U.S. median
$1,672/mo
Median gross rent
incl. utilities (ACS)
$426K
Median home value
owner-occupied (ACS)
Arizona metros by yield
Metropolitan areas in Arizona with at least 65,000 residents, ranked by gross rental yield.
| Metro | Gross yield | Median rent | Median value |
|---|---|---|---|
| Yuma, AZ | 5.2% | $1,099/mo | $255K |
| Sierra Vista-Douglas, AZ | 5.0% | $960/mo | $232K |
| Phoenix-Mesa-Chandler, AZ | 4.6% | $1,819/mo | $471K |
| Tucson, AZ | 4.5% | $1,300/mo | $350K |
| Lake Havasu City-Kingman, AZ | 4.3% | $1,120/mo | $311K |
| Flagstaff, AZ | 4.2% | $1,637/mo | $469K |
| Prescott Valley-Prescott, AZ | 4.1% | $1,542/mo | $450K |
Frequently asked questions
What is the gross rental yield in Arizona?
In 2024, Arizona had a gross rental yield of 4.7% — $1,672/mo median gross rent against a $426K median home value. That ranks 26th of 51 states (1 = highest yield). Nationally the figure was 4.9%.
Which Arizona metros have the best rental yield?
Among Arizona metros covered by the data, gross yield was highest in Yuma, AZ (5.2%), Sierra Vista-Douglas, AZ (5.0%), and Phoenix-Mesa-Chandler, AZ (4.6%).
Does this account for expenses or financing?
No. Gross yield is a top-line market screen — it excludes property taxes, insurance, vacancy, management, and financing. Use it to compare markets, then run a specific deal through a cap-rate or cash-flow calculator.
How investors finance deals in Arizona
Yield shows where the numbers work; our Investor Financing Report for Arizona shows the rate premium, denial rate, and DSCR lending investors face there.
Run a Arizona deal
Source: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Gross rental yield = (median gross rent × 12) ÷ median home value. A market screen, not a net return.