Tempe Homes under $500,000

Welcome to Tempe, Arizona – a vibrant city that beautifully blends the energy of college life with the charm of a close-knit community. Nestled in Maricopa County, Tempe is home to Arizona State University, which infuses the area with a youthful spirit and a plethora of cultural events, art festivals, and sporting activities. With its stunning desert landscapes, picturesque lakes, and an array of parks, Tempe offers residents a unique outdoor lifestyle, perfect for hiking, biking, and enjoying the warm Arizona sun.

For those seeking an affordable entry into this dynamic city, Tempe boasts a variety of homes under $500,000. Whether you’re a first-time homebuyer, a growing family, or looking to downsize, you’ll find an impressive selection of properties that cater to diverse needs and preferences. From charming single-family homes with spacious backyards to modern townhouses nestled in vibrant neighborhoods, Tempe has something for everyone.

Living in Tempe means easy access to a rich tapestry of dining, shopping, and entertainment options. Stroll through the lively Mill Avenue District, where you can discover local boutiques, trendy cafes, and a lively nightlife scene. Additionally, the city’s excellent public transportation system ensures that you’re never far from the action, making it easy to explore all that the Phoenix metropolitan area has to offer.

Embrace the opportunity to call Tempe home, where affordability meets an exciting lifestyle. Explore our listings today and find your perfect piece of this enchanting city!

Newest Tempe Homes under $500,000

$449,000

4 Beds ⋅ 2 Baths ⋅ 7101097 MLS ⋅ 2,229 SqFt. ⋅ 85282 Zip Code

Situated on a cul de sac lot, nearly 15,000 square feet, this Slump block Continental Home in North Tempe is a red hot buy! Price $350k below an upgraded comparable home, you cannot let this one pass you by. A short distance to McClintock High School. Close to the shopping, dining and the US60 & Loop 101 for ease of commute. The house needs some love, so you have the ability to move in with INSTANT Equity. 4 Bedrooms, 2 Bathrooms, Formal Living, Dining and Family room, along with added bonus space next to the Primary bedroom. RV Gate. NS Exposure. Single Level. Since 2025, a New Roof and new AC Unit have been installed. Both bathrooms have been update in recent years, as well as the Kitchen. Cosmetic updating needed. SOLD AS-IS, what you see, is what you Get.

2425 S Kachina Circle, Tempe

$445,000

3 Beds ⋅ 2 Baths ⋅ 7101001 MLS ⋅ 1,432 SqFt. ⋅ 85283 Zip Code

Some homes just feel easy. At the center of this single-level Knoell Tempe home, the kitchen is made for slow mornings and full tables, with white quartz countertops, a quartz island where everyone pulls up a seat, subway tile backsplash and stainless steel appliances, all in a soft neutral palette, plus a barn door beside open shelving. Out back, a covered patio looks over a synthetic grass yard that stays green without mowing, set on a 7,362 sq ft lot with room to spread out and an RV gate for the extras. Three bedrooms, two baths, 1,432 sq ft and a two-car garage, minutes from restaurants, shopping and the 101. Also for rent and makes for a great investment! Come see it in person. Also for rent! Makes a great rental!

2057 E Oxford Drive, Tempe

2401 E Rio Salado Parkway Unit 1215, Tempe

$350,000

2 Beds ⋅ 2 Baths ⋅ 7100967 MLS ⋅ 1,104 SqFt. ⋅ 85288 Zip Code

Move-in ready and refreshed from top to bottom. This 2 bed, 2 bath townhouse comes with a brand new kitchen appliance package, fresh paint, and new carpet throughout, so there's nothing left to do but unpack. The kitchen was remodeled within the last couple of years and features a white quartz countertop that keep the space bright and clean. The split floorplan gives each bedroom its own sense of privacy, ideal for roommates, guests, or a home office. The primary suite feels open and airy with vaulted ceilings and a walk-in closet. North/south exposure brings in great natural light without the harsh west sun. You'll love the attached 1-car garage plus an additional permitted parking spot, and the unit sits in one of the best spots in the community, just a short walk to the main pool. The location is hard to beat. Enjoy a short walk to Cubs spring training games, head into Tempe in minutes for dining and entertainment, and hop on the highway in under a minute for an easy commute or a weekend drive anywhere in the Valley.

2401 E Rio Salado Parkway Unit 1215, Tempe

$250,000

2 Beds ⋅ 2 Baths ⋅ 7100961 MLS ⋅ 751 SqFt. ⋅ 85281 Zip Code

**VA Assumable Loan at 6%!** Beautifully renovated first-floor condo in a prime Tempe location! This move-in-ready unit features brand-new flooring, new windows, updated bathroom vanities, and the convenience of an in-unit washer and dryer. Enjoy low-maintenance living with easy access to everything Tempe has to offer, just minutes from downtown, dining, shopping, ASU, and major commuter routes. **Bonus:** Qualified buyers may have the opportunity to assume the existing VA loan at 6% interest, subject to lender approval and eligibility.

1065 W 1st Street Unit 114, Tempe

$79,999

2 Beds ⋅ 2 Baths ⋅ 7100915 MLS ⋅ 1,300 SqFt. ⋅ 85282 Zip Code

Retire in style with BRAND-NEW A/C! This move-in-ready 2-bedroom, 2-bath home sits on one of the best lots in a gated 55 plus community. The inviting floor plan offers a formal living room, separate family room, and dining area--plenty of space to relax and entertain. Enjoy the low-maintenance yard, huge patio perfect for outdoor dining, and an enclosed front patio for even more entertaining space. A tandem two-car carport and storage add convenience. Community amenities include a clubhouse with library, banquet room, kitchen, billiards, pool, spa, and pickleball. Enjoy plenty of activities and wonderful neighbors! Centrally located with easy freeway access, just 15 minutes from Sky Harbor Airport and close to shopping, dining, and entertainment, park will allow 45 and older with no kids.

2609 W Sothern Avenue Unit 12, Tempe

$265,000

2 Beds ⋅ 2 Baths ⋅ 7100547 MLS ⋅ 779 SqFt. ⋅ 85281 Zip Code

Prime Tempe Location! Convenient ground-floor 2-bedroom, 2-bath condo offering a functional layout and an unbeatable location near Arizona State University, Downtown Tempe, Mill Avenue, Tempe Town Lake, restaurants, shopping, and Phoenix Sky Harbor Airport. Ideal for ASU students, professionals, or investors seeking an attractive rental opportunity. Enjoy easy access to everything Tempe has to offer!

616 S Hardy Drive Unit 143, Tempe

$84,999

2 Beds ⋅ 2 Baths ⋅ 7100444 MLS ⋅ 950 SqFt. ⋅ 85282 Zip Code

UPGRADES, UPGRADES, Beautifully updated home in desirable Contempo Tempe, an active 55+ community! Features include a brand-new concrete driveway, open floor plan, upgraded cabinetry, quartz countertops, and laminate flooring throughout. Spacious island kitchen with extra seating and upgraded appliances, including gas stove, dishwasher, and built-in microwave. The primary suite offers great closet space and an updated bath with a walk-in shower, new vanity, and quartz countertops. The guest bedroom features large closets, with an updated guest bath offering a walk-in shower, new vanity, quartz countertops, and extra storage. Dual-pane windows throughout help with Arizona summers. Inside laundry, low-maintenance pavers, artificial turf, complete this home. Move in ready with all the extras!

2609 W Southern Avenue Unit 437, Tempe

1905 E University Drive Unit B105, Tempe

$285,000

2 Beds ⋅ 2 Baths ⋅ 7100415 MLS ⋅ 1,084 SqFt. ⋅ 85288 Zip Code

Prime Tempe location. Minutes to ASU main, Tempe Marketplace & town lake, quick 101/202 freeway. Renovations just finished - fresh paint throughout. Kitchen cabinets refinished, new counters, sink & faucet. Both bathroom vanities replaced and new tile shower surrounds & tub. Ground level, 2 bedroom + 2 bathrooms. In-unit washer and dryer. HVAC replaced in 2020. Additional storage closet off courtyard patio. Excellent investment opportunity for a low maintenance, lock and leave condo., college rental. Community pool & spa just steps away. Take advantage of the dedicated lot to store your trailer, boat, etc on site. See CC&R's for details. Unit includes 1 covered designated parking spot. Ample open parking for roommate and guests just off the front door!

1905 E University Drive Unit B105, Tempe

$260,000

3 Beds ⋅ 3 Baths ⋅ 7100363 MLS ⋅ 1,704 SqFt. ⋅ 85282 Zip Code

Opportunity knocks in this desirable Tempe townhome community! Priced approximately $100,000 below comparable homes, this property offers an opportunity to renovate, build equity, and make it your own. Whether you're an investor looking for your next project or a buyer ready to create a space that fits your style, the potential is here. Enjoy two covered parking spaces, additional storage, a covered patio, and a peaceful grassy area in front. Conveniently located near Arizona State University, shopping, dining, and major freeways, this is a chance to invest in an established community at an attractive price.

3323 S Poplar Street, Tempe

$495,000

4 Beds ⋅ 2 Baths ⋅ 7100256 MLS ⋅ 2,330 SqFt. ⋅ 85283 Zip Code

IMAGINE... THE POSSIBILITIES! A 4-BEDROOM HOME IN THE LAKES FOR UNDER $500,000! Here's your opportunity to create something special in one of Tempe's most desirable and established neighborhoods! Offering 4 bedrooms, 2 bathrooms, and approximately 2,330 square feet, this two-story home is ready for your imagination, creativity, and personal touches. Whether you're looking to renovate, refresh, or completely reimagine the interior, the opportunity is here to make this home uniquely yours. But it's not just about the home... it's about THE LAKES LIFESTYLE! Enjoy a wonderful community known for its scenic lakes, mature landscaping, walking paths, and exceptional recreational amenities. The Lakes Beach & Tennis Club offers a community pool and spa, fitness center, tennis and pickleball courts racquetball, basketball, and more. Conveniently located in the heart of Tempe with easy access to shopping, dining, entertainment, and major freeways. FOUR BEDROOMS. THE LAKES. UNDER $500K. BRING YOUR VISION AND MAKE IT YOUR OWN!

5630 S Rocky Point Road, Tempe

$229,000

2 Beds ⋅ 2 Baths ⋅ 7100255 MLS ⋅ 824 SqFt. ⋅ 85281 Zip Code

**Prime Tempe Location - Just Minutes from ASU and Mill Avenue!** Beautifully updated 2-bedroom, 2-bath condominium in one of Tempe's most desirable locations! Both spacious bedrooms feature private en-suite bathrooms, offering an ideal layout for roommates, students, or guests. Recent upgrades include brand-new luxury vinyl flooring, fresh interior paint, beautifully updated bathroom vanities, and granite countertops. Additional highlights include a convenient pantry, in-unit laundry, and covered parking. Enjoy a well-maintained community with an attentive HOA that handles exterior maintenance and a sparkling community swimming pool. Stroll along mature, tree-lined streets to Arizona State University and the vibrant shops, restaurants, and entertainment of Mill Avenue. Neighborhood shopping, dining, and a city park are just steps away. Whether you're looking for a low-maintenance primary residence, a convenient lock-and-leave retreat, or an investment opportunity near ASU, this move-in-ready condo checks all the boxes. Exceptional location, thoughtful updates, and easy Tempe living! Vacant and ready for immediate occupancy.

330 S Beck Avenue Unit 116, Tempe

$259,900

2 Beds ⋅ 2 Baths ⋅ 7100053 MLS ⋅ 941 SqFt. ⋅ 85282 Zip Code

Conveniently located within 2 miles of ASU this 2 bedroom 2 bath condo offers convenience and affordability. Freshly painted interior and new carpet throughout give this home a fresh and vibrant feel. Newer A/C unit keeps you nice and cool in the Summer and nice and warm in the Winter. Located right next to the pool (your balcony overlooks the pool), community center, and mailboxes this condo is close to all the amenities the community has to offer. The community also offers a laundry mat, but this property has its own set of washer & dryer inside the unit. Shuttles & buses offer easy commuting. Nearby gyms, grocery stores, and restaurants make the convenience factor even higher. Whether your attending ASU or just love Tempe for all it has to offer, this Condo is perfect for you.

200 E Southern Avenue Unit 222, Tempe

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Tempe Homes under $500,000

Newest Tempe Homes under $500,000

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