Phoenix Homes under $500,000

Welcome to Phoenix, Arizona, a vibrant city where the sun shines nearly 300 days a year, creating the perfect backdrop for your next home. Nestled in Maricopa County, Phoenix is not just the state capital; it’s a bustling metropolis that seamlessly blends urban sophistication with the allure of the desert. With its stunning mountain vistas, lush parks, and a rich cultural scene, Phoenix offers a lifestyle that attracts families, young professionals, and retirees alike.

For those seeking affordable housing options, Phoenix has an array of charming homes available for under $500,000. This price point opens the door to a diverse selection of properties, from cozy single-family homes to contemporary townhouses, all set in welcoming neighborhoods. Whether you're looking for a quaint abode in the historic districts or a modern gem in a newer development, there’s something for everyone in this thriving market.

The city boasts excellent schools, a robust job market, and an abundance of recreational activities, making it an ideal place to settle down. From hiking the scenic trails of South Mountain Park to enjoying the vibrant arts scene in downtown, residents are never short of things to do. Plus, with easy access to major highways, commuting around the city and beyond is a breeze.

In Phoenix, your dream home is not just a possibility; it’s within reach. Explore the options available under $500,000 and discover why so many are choosing to call this dynamic city home. Your perfect desert oasis awaits!

Newest Phoenix Homes under $500,000

$389,000

3 Beds ⋅ 1 Baths ⋅ 7088610 MLS ⋅ 1,116 SqFt.

This 3 bed 1 bath bungalow sits right in the middle of central Phoenix, minutes from the restaurants and vintage shops along Melrose on 7th Avenue, the trails and lagoon at Encanto Park and the open lawns of Steele Indian School Park. On a 7,000 sq ft lot with no HOA, it's about as cute as they come. Fresh paint runs throughout, and real wood floors carry from the living room into the dining area and primary bedroom, with plantation shutters softening the light. The updated kitchen has white cabinetry, granite countertops, a subway tile backsplash and a gas range. Off the main living space, the Arizona room gives you flexible bonus space for an office, a reading spot or a place to land. Three bedrooms share the full bath. Out back is where this one really shines. A large block-fenced yard with brick paver patios, a storage shed and an RV gate with additional parking gives you room to spread out. The big items are already handled too, with HVAC replaced in 2019 and roof update in 2020. Nothing left to do but unpack.

1306 W Clarendon Avenue, Phoenix

$199,999

2 Beds ⋅ 2 Baths ⋅ 7088590 MLS ⋅ 875 SqFt.

Enjoy North Mountain views from this inviting 2-bedroom, 2-bath end-unit condo featuring single-level living, tile flooring throughout, a private patio, and assigned covered parking, with guest street parking just steps away. Located near the community pool, this thoughtfully updated home features new windows and a second-bedroom glass slider (2023), refreshed showers and toilets in both bathrooms, and a new primary bathtub. Additional improvements include a water heater (2025), Whirlpool oven (2024), Whirlpool washer and dryer (2025), Ecobee Wi-Fi thermostat (2023), and new kitchen sink and faucet. A split-bedroom layout offers added privacy. With thoughtful updates and mountain views, this condo offers exceptional value in a desirable North Phoenix location! Buyer and buyer's agent to verify all facts and figures listed in the MLS.

925 W Peoria Avenue Unit 7, Phoenix

$359,900

4 Beds ⋅ 1 Baths ⋅ 7088579 MLS ⋅ 1,172 SqFt.

Incredible value at $359,900! This vacant, move-in ready 4-bedroom home offers exceptional space and peace of mind with major capital improvements already done. Highlights include a brand NEW roof (2026) and newer HVAC system (2023). Enjoy 1,509 sq ft of functional living area (buyer to verify unpermitted additions/sq ft) on a generous lot with NO HOA. Clean, turnkey, and priced to sell!

6919 W Cypress Street, Phoenix

$498,995

3 Beds ⋅ 3 Baths ⋅ 7088571 MLS ⋅ 1,875 SqFt.

Welcome to the Larimar at Baker Farms, a beautifully designed 3-bedroom, 3-bath home featuring two private owner suites and a versatile flex room. The spacious great room flows into the dining area and impressive kitchen with a large island and walk-in pantry, while center-meet doors open to the covered patio. The greenbelt homesite with open fencing and no direct rear neighbors offers added privacy and an open, peaceful backdrop. The home also features a convenient laundry room, mudroom, 2-car garage and professionally curated finishes throughout. Located in gated Baker Farms, residents enjoy parks, trails, BBQ grills, Ramadas and greenbelt spaces, all conveniently located near shopping, dining and major roadways.

8032 W Eaton Road, Phoenix

$365,000

3 Beds ⋅ 2 Baths ⋅ 7088561 MLS ⋅ 1,128 SqFt.

Beautifully Updated & Move-In Ready - Brand New AC + Extensive Updates + New Water Heater +Huge Backyard & RV Gate. From the moment you step inside, you'll notice the difference on how the New flooring flows throughout the home, complemented by fresh interior & exterior paint, new blinds, stylish new light fixtures & new ceiling fans that create a bright, polished & welcoming atmosphere. The updated kitchen also features a brand-new sink, new stove & microwave with plenty of cabinet space & refreshed finishes. Both bathrooms have been beautifully updated with new showers, vanities & toilets, creating clean, comfortable spaces that feel wonderfully new. And then there's the backyard, Expansive, versatile & ready for your vision, there's room to entertain, garden, create a play area or let the dogs run. The RV gate and 2-car garage add valuable flexibility for vehicles, storage & all of your Arizona toys. When it comes to peace of mind, the major updates have already been taken care of. Enjoy a brand-new AC with a transferable 10-year warranty, a brand-new water heater, and a roof approximately 6 years old--giving you more time to focus on enjoying your home rather than worrying about the big-ticket items. This isn't just a house with upgrades--it's a home where you can settle in, breathe easy & start creating your next chapter. Come see it, feel it, and imagine yourself calling it home! Your next chapter starts here.

8307 N 29th Avenue, Phoenix

6900 E Princess Drive Unit 1160, Phoenix

$359,000

2 Beds ⋅ 2 Baths ⋅ 7088558 MLS ⋅ 843 SqFt.

Beautiful 2 bed/2 bath ground floor condo with larger patio. This condo is newly renovated and beautifully fully furnished. Split floor plan with a king bed in the master and a queen bed in the 2nd bedroom! Huge walk in closet in the master bedroom and both bathrooms have new quartz countertops. 55'' Smart TV with Cable / Netflix & streaming access. T he kitchen has stainless steel appliances, granite countertops. This unit has a full size washer and dryer located in the main hallway. Large covered patio overlooking a courtyard with seating for 4. Gated community with pools, hot tubs, gym, grilling areas, Located access to the 101, minutes to Kierland, great shops, restaurants and golf courses. This is fully furnished, turn key.

6900 E Princess Drive Unit 1160, Phoenix

$424,900

2 Beds ⋅ 3 Baths ⋅ 7088542 MLS ⋅ 1,656 SqFt.

This beautifully updated two-bedroom, two-and-a-half-bath unit with a loft/office is just steps away from the sparkling community pool. The first floor offers a bright and spacious layout featuring ALL NEW elegant travertine flooring throughout the living room, dining area, and kitchen, creating a cohesive and sophisticated feel. The kitchen shines with BRAND NEW stainless steel appliances, and granite countertops. A convenient half bath, separate dining area, and inviting living room with a cozy wood-burning fireplace complete the main level. Upstairs, enjoy two ensuite bedrooms, a versatile loft/office space, and a laundry room for added convienence. The upstairs bathrooms have been tastefully upgraded with NEW travertine tile flooring and NEW vanities. The primary bedroom features a HUGH walk-in closet large enough to accommodate a nursery, toddler's room, exercise room, or even a second office. The primary ensuite is a true retreat, boasting dual sinks, a NEW spacious snail shower, and a large jacuzzi tub--perfect for unwinding after a long day. The balcony off the primary suite has been resurfaced which looks completely refreshed and new. Need a home office? The loft features custom built-in desks and bookshelves, offering a stylish and functional workspace. Step outside to the inviting back patio, complete with tile and artificial turf for a low-maintenance outdoor space, all shaded by beautiful mature trees. Additional recent upgrades include an air conditioning unit that is only one year old, offering energy efficiency and peace of mind. HOA fees cover essential services including water, trash, sewer, front landscaping, pest control, community maintenance, and exterior structure insurance--allowing you to enjoy a hassle-free lifestyle while preserving the beauty of your surroundings. This cozy and thoughtfully upgraded townhouse which perfectly blends comfort, style, and functionality is ready for you to make it your own. Make sure you check out the 3D Virtual Walkthrough!

5750 N 10th Street Unit 5, Phoenix

$450,000

3 Beds ⋅ 2 Baths ⋅ 7088519 MLS ⋅ 1,557 SqFt.

A private pool, a sun room, and a separate office give this single-level Ahwatukee home room for more than the everyday routine. The kitchen opens to a spacious dining area, with an island and breakfast bar that keep conversation close while meals come together. Settle into the separate living room or make the sun room your morning coffee spot. The primary bedroom includes an adjoining bathroom and walk-in closet. Out back, the pool takes center stage, with surrounding gravel landscaping and space to add your own outdoor seating. An attached garage rounds out the home.

11428 S Mohave Street, Phoenix

5450 E Deer Valley Drive Unit 2189, Phoenix

$389,000

2 Beds ⋅ 2 Baths ⋅ 7088457 MLS ⋅ 1,246 SqFt.

Welcome to resort-style living at its finest within the guard-gated community of Toscana of Desert Ridge -- one of North Phoenix and Scottsdale's most sought-after luxury condominium addresses. This beautifully appointed 2 bedroom, 2 bathroom residence offers a rare and highly desirable short-term rental allowance, making it an outstanding opportunity for both discerning homeowners and savvy investors alike. The open-concept floor plan invites you in with a gourmet kitchen that flows effortlessly into a generous great room, perfectly designed for both everyday living and entertaining. Thoughtfully upgraded throughout, the kitchen features quartz countertops, stainless steel appliances, and a built-in wine refrigerator that adds a touch of sophistication. The spacious primary suite is a true retreat, complete with a large en-suite bath and private water closet. The home is being offered fully furnished, with all furniture included or available for negotiation -- a genuine turn-key opportunity from day one. Residents of Toscana enjoy an unparalleled amenity package, including three resort-style heated pools, two state-of-the-art fitness centers, three private clubhouses, and a dedicated resort staff -- all within a 24/7 guard-gated community. The location is equally impressive, with High Street's acclaimed dining and nightlife, Desert Ridge Marketplace, and the JW Marriott Desert Ridge Resort & Spa all within walking distance. Two championship golf courses, including the Nick Faldo-designed Wildfire Golf Club, are just moments away, as is the Mayo Clinic. Whether you're seeking a full-time luxury residence, a premier lock-and-leave retreat, or an income-producing short-term rental in the heart of the Phoenix/Scottsdale corridor, this is a rare opportunity that truly delivers on every front.

5450 E Deer Valley Drive Unit 2189, Phoenix

$399,900

2 Beds ⋅ 1 Baths ⋅ 7088440 MLS ⋅ 1,312 SqFt.

Mid-century pool house bungalow, completely reimagined! This stunning 2-bedroom, 1-bath home has been completely remodeled, and features a large enclosed Arizona room. This perfect for a home office, gym, dining space or second living area. Enjoy a large fenced lot and a newly resurfaced pool, pool deck and new pool equipment. Major updates include a new roof, HVAC, windows and flooring, along with a beautifully renovated kitchen and bath. Ideally located in central Phoenix on a quiet dead-end street near Arcadia, Papago Park, Sky Harbor, Downtown Phoenix and Loop 202. A rare blend of character, versatility and modern updates that you will want to see! Owner/Agent

2930 E Granada Road, Phoenix

$125,000

3 Beds ⋅ 2 Baths ⋅ 7088428 MLS ⋅ 1,104 SqFt.

INVESTORS! Here is an opportunity you all text, email and call me about. This 3 bedrpom 2 bath house is just off Baseline and 7th Street. The location is the draw. You're in the South Mountain corridor, close to the Baseline Road shopping and dining, with Fry's and Target nearby for the daily errands. South Mountain Park and Preserve is right there for hiking, biking and hirse back riding. Downtown Phoenix, Sky Harbor, and the Central Ave light rail are all a short drive. The I-10 and 202 give you quick access to Tempe, Ahwatukee, and the rest of the Valley.

731 E South Mountain Avenue, Phoenix

$145,000

1 Beds ⋅ 1 Baths ⋅ 7088390 MLS ⋅ 752 SqFt.

Incredible value in this tastefully remodeled large 1 bedroom condo with patio overlooking the pool. Includes newer stacked Laundry, large walk-in closet, plenty of storage. Upgrades include new granite countertops with stainless sink, commercial faucet, New bath fixtures, new toilet. HOA maintains master boiler for hot water, and chiller for AC in each unit. 1 covered carport spot included. Ready for move-in. complex allows for rentals (not nightly). Surrounded by shopping, restaurants and very close to I-17. owner/agent

3131 W Cochise Drive Unit 264, Phoenix

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