Show Low, AZ Housing Market

Market Overview

Show Low, AZ presents a weak housing market picture, as reflected in a PropertyIQ Score of 5 out of 100. The top score drivers include a 12-month home value momentum of 3.06% and a 3-month momentum of -0.64%, indicating that home values have recently cooled. The median home value is $398,947, which is below the state average of $421,381, but the local median household income of $52,752 is far below the state average of $76,872. The unemployment rate is 4.9%, matching the state average.

Supply-side indicators also point to softness: there are 907 homes for sale, the median days on market is 76 days, and 31.1% of listings have had a price cut. The rent index is $1,624, above the state average of $1,431. Population growth data is not available, so it is not possible to assess whether household formation is adding demand pressure. Overall, Show Low’s housing market compares poorly to state benchmarks and shows limited momentum.

Key Trends

One trend is cooling price momentum. The 12-month home value momentum of 3.06% is positive, but the 3-month momentum of -0.64% and a year-over-year home value change of -$6 show that values have flattened or slightly declined in recent months.

A second trend is slower sales and higher inventory. With 907 homes for sale and a median days on market of 76 days, homes are taking a long time to sell. The share of listings with a price cut at 31.1% indicates that sellers are reducing prices to attract buyers.

A third trend is a sharp affordability gap. The median household income of $52,752 is significantly below the state average of $76,872, while the median home value of $398,947 is only moderately below the state average of $421,381. The rent index of $1,624 is also $193 above the state average of $1,431, adding cost pressure for local residents.

A fourth trend is a relatively strong rental market compared with home values. Even though median home values are below the state average, Show Low’s rent index is above the state average. That combination may indicate rental demand or limited rental supply, making the rental side more resilient than the for-sale side.

Who Is This Market For

Given the weak PropertyIQ Score, high days on market, and price cuts, this market is better suited to patient buyers and rental investors than to sellers or short-term flippers. Buyers can likely negotiate because homes are sitting for 76 days on average and nearly one-third of listings have reduced prices. The median home value of $398,947 is below the state average of $421,381, which may appeal to buyers looking for a lower purchase price in Arizona. However, the local median household income of $52,752 is much lower than the state average of $76,872, so many local households may struggle with affordability.

Rental-property investors may find this market more attractive because the rent index of $1,624 is above the state average of $1,431 while home values are below the state median. That produces a more favorable price-to-rent relationship than the state benchmark. First-time buyers with local incomes may face challenges, and move-up buyers may struggle to sell their current homes in a slow market. Overall, the data favors buyers with flexibility and investors focused on rental income rather than rapid appreciation.

Outlook

The near-term outlook is cautious. The 3-month home value momentum of -0.64% and the year-over-year home value change of -$6 suggest that prices are not currently rising. With 907 homes for sale, a median days on market of 76 days, and 31.1% of listings with price cuts, supply is likely to keep pressure on sellers. The unemployment rate of 4.9% matches the state average, providing some stability, but the large gap between local and state median household incomes may limit local buying power. The rent index of $1,624 above the state average of $1,431 could support rental demand, but population growth data is not available, so the demand picture is incomplete. Until inventory levels or price momentum improve, the data supports continued soft conditions in Show Low.