Home Values in Surprise, Arizona — 2026 Market Report
Updated March 2026 | Seller's Market | +6% YoY
The median home value in Surprise, Arizona is $395,000 as of March 2026, which is near the national median of $400,000. Home values in Surprise have increased by 6% over the past year and 33.8% over the last five years. With a population of 143,148 and a median household income of $68,250, the price-to-income ratio stands at 5.8x, making Surprise affordable for the average household.
Surprise Housing Market Conditions
| Metric | Surprise | National Avg |
|---|---|---|
| Median Home Value | $395,000 | $400,000 |
| YoY Appreciation | +6% | +3.8% |
| 5-Year Appreciation | +33.8% | +22.4% |
| Price per Sq Ft | $149 | $222 |
| Days on Market | 25 days | 45 days |
| Months of Supply | 2.4 | 3.5 |
| List-to-Sale Ratio | 101.8% | 98.5% |
| Monthly Homes Sold | 133 | — |
| Foreclosure Rate | 0.26% | 0.3% |
Home Value Trends in Surprise
A homeowner who purchased at the median price of $295,217 five years ago in Surprise would have gained approximately $99,783 in equity, representing a 33.8% return on investment. Over the past year alone, the typical homeowner gained $22,358 in home equity.
Affordability in Surprise, AZ
With a median household income of $68,250 and a median home price of $395,000, the price-to-income ratio in Surprise is 5.8x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $2,447 compared to estimated monthly ownership costs of $2,081 gives a rent-vs-buy ratio of 0.85. In Surprise, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Surprise
The effective property tax rate in Arizona is 0.62%. On a home valued at $395,000, the estimated annual property tax bill is $2,449, or approximately $204/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Surprise is 98.5 (100 = national average), indicating living costs are near the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Surprise, AZ?
The median home value in Surprise, Arizona is $395,000 as of March 2026. Home values have changed +6% over the past year, with a 5-year appreciation of 33.8%.
Is Surprise a buyer's or seller's market?
Surprise is currently a seller's market with 2.4 months of housing supply. Homes spend an average of 25 days on market, and the list-to-sale price ratio is 101.8%. Low inventory gives sellers an advantage.
Are home values going up in Surprise?
Yes, home values in Surprise have increased by 6% over the past year. The 5-year appreciation rate is 33.8%, meaning a home worth $295,217 five years ago is now worth $395,000.
Is it better to rent or buy in Surprise?
The average monthly rent in Surprise is $2,447, while estimated monthly homeownership costs are approximately $2,081. The price-to-rent ratio is 13.5. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for Surprise, Arizona is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.