Tempe sits just north of Chandler and is home to Arizona State University's main campus and Tempe Town Lake. It's more urban and walkable than most of the East Valley, with light rail and a busy downtown near campus and quieter, mostly older neighborhoods further south. Because Tempe is largely built out, much of its housing dates from the 1960s through the 1990s. Strong rental demand near ASU makes it a common choice for investors, and its central location puts the airport and downtown Phoenix close by.
Tempe, home to Arizona State University and bordering Chandler to the north, offers a distinctly more urban, walkable feel than most of the East Valley, along with a genuinely different market than Chandler's newer master planned communities.
Tempe has also shown up on national lists. Livability has included Tempe in its Top 100 Best Places to Live in the U.S., alongside Chandler and Gilbert, as 12News reported.
The ASU effect
Arizona State University shapes much of Tempe's character, a busier downtown with dining and nightlife, and a strong rental and investment property market driven by student and young professional housing demand.
Neighborhood variety
Tempe ranges from dense, walkable areas near ASU and Tempe Town Lake to quieter, more traditional single family neighborhoods further from campus, the buyer experience varies dramatically depending on which part of Tempe you're considering.
Tempe is largely built out, so there's far less new single family construction than in Chandler or Gilbert. Much of the housing dates from the 1960s through the 1990s, especially in south Tempe. Many of those neighborhoods have no HOA, which some buyers love and others don't.
Living near ASU, day to day
If you're looking close to campus, think about what game days, concerts and the start of each semester will mean for your street. Traffic, parking and noise change during big events. Visit the area on a Friday night and on a weekday morning before you decide. A few blocks can make a big difference in how much campus life reaches your front door.
Tempe Town Lake, along the Salt River, is a big part of life in the north part of the city, with paths for walking, running and biking along the water. The Tempe Streetcar and Valley Metro light rail connect downtown, campus and nearby neighborhoods, which matters if you'd like to drive less.
Older homes, older systems
With older housing stock, the inspection matters even more. Look closely at:
| System | What to ask |
|---|---|
| Roof | Age, and the underlayment on tile roofs |
| Electrical panel | Whether it's original and has been evaluated |
| Plumbing and sewer line | Pipe material and a sewer camera inspection |
| AC | Install year and service records |
| Irrigation | Some older Tempe lots use flood irrigation |
Investment property considerations
Given the university and strong job market, Tempe is a popular market for investment and rental property buyers. I can walk you through rental demand patterns and cash flow considerations specific to different Tempe neighborhoods if that's your goal.
As a CPA, I'll run the numbers with you the way a lender and an accountant would: rent, vacancy, taxes, insurance, HOA dues, repairs and management. Arizona also requires residential rentals to be registered with the county assessor, and some HOAs restrict rentals. Check both before you buy.
Short term rentals and HOA rules
If you're buying with renting in mind, know the rules before you buy. Arizona law limits how much cities can restrict short term rentals, but cities can still require permits and set some rules, and HOAs can restrict rentals through their own documents. Read the CC&Rs and check the city's current requirements before you write an offer. More in Short term rental rules in Chandler, AZ, which covers the state rules that apply across the Valley.
Neighborhoods without an HOA
Many older Tempe neighborhoods have no association at all. That means no monthly dues and fewer rules about paint colors, parking or what you can build in your backyard. It also means nobody is enforcing those rules on the house next to you. Walk the street and look at how homes are kept, and decide which tradeoff fits you. If a home does sit in an HOA, ask for the full set of documents.
Commute and location
Tempe's central location offers strong access to Phoenix Sky Harbor Airport, downtown Phoenix, and the broader freeway system, including I-10, the Loop 101 and the Loop 202, plus Valley Metro light rail. That makes it a popular choice for buyers prioritizing central location over suburban space.
Tempe vs. Chandler
Buyers wanting urban energy, walkability, transit or investment opportunity often lean toward Tempe. Buyers wanting newer homes, larger lots or master planned amenities often lean toward Chandler. I'll help you compare honestly based on your actual priorities.
If schools are part of your decision, more than one district serves Tempe, so confirm the boundary for any address and look up each school's state A through F letter grade on the Arizona School Report Cards site.
What to check before you buy in Tempe
1 - Whether the home sits in an HOA, and if so, the dues and rental rules.
2 - The age of the roof, AC, electrical panel and plumbing.
3 - A sewer line camera inspection on an older home.
4 - How the home is irrigated, and what it costs if it's flood irrigation.
5 - Twelve months of SRP or APS bills.
6 - What's planned nearby. Tempe keeps changing, especially near downtown and the lake, so look at the city's planning map around any home you're considering.
The bottom line
Whether you're looking for a primary home, an investment property, or urban energy, I know Tempe's different areas well enough to point you to the right fit.
Take the first step toward clarity and protection, schedule a consultation with me today.
Questions, answered.
Is Tempe a good city for investment properties?
It's popular with investors because of consistent rental demand driven by ASU and the broader job market. I can walk you through the numbers for specific properties or neighborhoods.
Is Tempe more expensive than Chandler?
It varies significantly by specific neighborhood in both cities, some Tempe areas run higher due to proximity to ASU and downtown, while others are comparable to Chandler.
Are most Tempe homes older?
Many are. Tempe is largely built out, and much of its single family housing dates from the 1960s through the 1990s, so inspections and system ages matter.
Do Tempe neighborhoods have HOAs?
Some do and many older neighborhoods don't. Check each property, and if you plan to rent it out, read the HOA's rental rules before you buy.
Does Tempe have public transit?
Yes. Valley Metro light rail runs through Tempe, along with buses and the Tempe Streetcar near downtown and ASU.
Want to talk it through?
Bring me the specifics of your situation and I will tell you straight what I would do. No pitch, nothing to sign, and no obligation to work with me afterward.
Talk through Tempe with me