Metro area index
Home appreciation in the Tucson, AZ metro area
FHFA HPI® data shows the Tucson, AZ metro area's all-transactions index changed +1.9% over the year to Q2 2026, versus +0.9% for Arizona and +3.0% for the U.S. That ranks 288th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +1.9%
- 5-year change
- +39.5%
- Since Q1 1995
- +277%
- Metro rank (1 year)
- 288th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Tucson, AZ vs Arizona and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Tucson, AZ: 377.2
- Arizona: 471.5
- United States: 391.6
Appreciation by time window
| Window | Metro | AZ | U.S. | Gap vs AZ | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +1.9% | +0.9% | +3.0% | +0.9 pts | −1.1 pts |
| 3 years | +8.2% | +8.2% | +12.9% | −0.0 pts | −4.7 pts |
| 5 years | +39.5% | +36.3% | +41.3% | +3.2 pts | −1.8 pts |
| 10 years | +110% | +116% | +93.3% | −6.0 pts | +16.8 pts |
| Since Q1 1995 | +277% | +372% | +292% | −94.3 pts | −14.3 pts |
3-digit ZIP regions in the Tucson, AZ area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 857 · Tucson, AZ area | AZ | +1.6% | +39.0% | +279% | 99% |
| 856 · Sierra Vista, AZ area | AZ | +0.1% | +40.6% | +227% | 36% |
Boom, bust, and recovery in Tucson, AZ area
Tucson, AZ area's index peaked in Q4 2006, fell 38.1% to its low in Q2 2012, and regained its peak in Q3 2020, about 13.8 years after the top. Today it sits +58.8% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q4 2006 | Q2 2012 | -38.1% | Q3 2020 (13.8 yrs) | +58.8% |
| AZ | Q4 2006 | Q2 2011 | -46.0% | Q3 2019 (12.8 yrs) | +72.5% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Tucson, AZ area's index has changed +70.4% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | AZ after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | -1.9% | -2.8% | -0.8% |
| 3 years | +9.8% | -1.5% | -1.4% | +2.8% |
| 5 years | +24.0% | +12.4% | +9.9% | +13.9% |
| 10 years | +39.1% | +51.1% | +55.4% | +39.0% |
| Since Q1 1995 | +121% | +70.4% | +113% | +76.8% |
If you bought in the Tucson, AZ area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +273% | $1,117,799 |
| Q2 2000 | +214% | $942,814 |
| Q2 2005 | +92.8% | $578,381 |
| Q2 2010 | +123% | $667,882 |
| Q2 2015 | +120% | $659,783 |
| Q2 2020 | +62.8% | $488,353 |
| Q2 2021 | +39.5% | $418,374 |
| Q2 2023 | +8.2% | $324,574 |
| Q2 2025 | +1.9% | $305,648 |
Frequently asked questions
- How much have home prices risen in the Tucson, AZ area?
- FHFA HPI® data for the Tucson, AZ metro area shows changes of +1.9% over one year, +39.5% over five years, and +110% over ten years to Q2 2026, and +277% since Q1 1995.
- Is the Tucson, AZ area beating the national average?
- Over the past year the metro's index moved −1.1 pts versus the U.S.; over five years the gap is −1.8 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.