The Housing Market in Buckeye Today
Buckeye, a rapidly growing suburb west of Phoenix, has seen its housing market evolve in recent years. With a population that has more than doubled since 2010, reaching over 110,000 residents in 2023, demand for housing in Buckeye is strong. New developments are rising, especially along the I-10 corridor, offering a mix of single-family homes, townhomes, and apartment complexes.
However, like many cities across the country, inventory has tightened in Buckeye’s housing market. The combination of steady population growth, limited housing supply, and rising costs of construction materials and labor have put upward pressure on both rent and home prices. Despite this, Buckeye remains relatively affordable compared to other parts of the Phoenix metro area.
For those considering a move to Buckeye, understanding the local housing landscape is key to making an informed decision. Whether renting an apartment or purchasing a house, it’s important to have a clear picture of typical costs and the factors driving the market.
Renting in Buckeye: What’s Typical?
As of mid-2025, the average rent for an apartment in Buckeye is around $1,550 per month. Drilling down further, a typical one-bedroom unit goes for about $1,350, while a two-bedroom apartment averages $1,750 monthly. These figures include core utilities like water, sewer, and trash, which are often bundled into rent costs in Buckeye apartment complexes.
Rent prices in Buckeye have risen at a moderate pace of 3-4% annually over the past few years, slightly outpacing inflation but lower than the sharper increases seen in some other Phoenix suburbs. Availability of apartments can vary, with vacancy rates ranging from 5% to 10% depending on the season and specific location within the city.
Buckeye’s renter population skews younger, with many apartments catering to single professionals, young couples, and small families. Popular renter hotspots include the Sundance, Verrado, and Downtown districts, which offer walkable amenities and shorter commutes. Older adults and retirees are also increasingly renting in Buckeye, drawn by active adult communities and accessible single-story layouts.
Owning a Home in Buckeye
For those looking to purchase a home, Buckeye’s median sale price currently stands at $410,000, up nearly 30% from five years ago but still below the Phoenix metro median of $475,000. With a 10% down payment and 6.5% 30-year fixed mortgage, the estimated monthly cost for a mid-range home would be around $2,450.
On top of the mortgage, Buckeye homeowners can expect to pay property taxes averaging 0.6% of the assessed value annually, or $2,460 per year for a $410,000 home. Home insurance typically runs $1,200 to $1,500 per year, while HOA dues for those in managed communities often fall between $30 and $50 per month.
Utilities are another significant cost for Buckeye homeowners, particularly electricity for air conditioning during the hot summer months. While many newer homes feature energy-efficient systems, a typical household might budget $250 monthly for combined utilities. Some homes use cost-saving evaporative coolers, also known as “swamp coolers,” which can help reduce cooling bills.
Renters vs. Homeowners: Who Lives Where?
Buckeye’s homeownership rate stands at 76%, higher than the national average of 65%. This reflects the city’s popularity with families seeking spacious homes and good school districts. However, the proportion of renters has been gradually increasing as more young professionals and downsizing retirees move to the area.
Lifestyle often dictates the choice between renting and owning in Buckeye. Young singles and couples just starting out frequently opt for the flexibility and affordability of renting, especially if they anticipate moving for work or growing their families in the near future. On the other hand, established families with children and long-term residents tend to prioritize the stability and investment potential of homeownership.
Financial barriers can also shape housing decisions. While Buckeye’s home prices are relatively moderate, coming up with a down payment and qualifying for a mortgage can be challenging for those with limited savings or lower incomes. Cultural factors matter too – some groups place a high value on owning property, while others find renting more compatible with their goals and circumstances.
Table: Typical Monthly Housing Costs in Buckeye
Here’s what housing costs might look like each month in Buckeye:
| Cost | 1BR Apartment | 2BR Apartment | Median Home |
|---|---|---|---|
| Rent/Mortgage | $1,350 | $1,750 | $2,450 |
| Property Tax | $0 | $0 | $205 |
| Utilities | $125 | $150 | $250 |
| Insurance | $15 | $20 | $110 |
| HOA Dues | $0 | $0 | $40 |
| Total | $1,490 | $1,920 | $3,055 |
Estimates reflect mid-range properties and average usage.
What’s Driving Costs Up or Down?
Several key factors are shaping Buckeye’s housing market and cost trends. On the demand side, the city’s proximity to job centers, relative affordability, and family-friendly amenities continue to attract new residents. Population growth has outpaced new housing construction, leading to a tight supply that puts upward pressure on rents and prices.
Buckeye’s strong local economy and growing industries like healthcare, education, and retail services are driving demand for workforce housing. At the same time, the rise of remote work has allowed more people to choose Buckeye for its quality of life while keeping Phoenix-level salaries. This influx of higher-income earners can contribute to rising housing costs.
On the supply side, Buckeye has seen steady construction of new housing, but not enough to fully alleviate shortages. Zoning changes have allowed for more density in some areas, with apartments and townhomes becoming more common. However, construction faces headwinds like rising materials costs, supply chain issues, and labor constraints. These challenges can slow the pace and increase the price of new housing development.
FAQs About Housing in Buckeye
- Is Buckeye affordable to live in? Compared to other Phoenix suburbs, Buckeye offers relatively affordable housing options, with lower rents and home prices than many neighboring cities. However, costs are rising, and affordability depends on individual financial circumstances.
- Why are housing prices changing? Buckeye’s housing market is influenced by population growth, job market strength, construction costs, and overall supply and demand. Recent price increases reflect a combination of high demand and limited inventory.
- How does Buckeye compare to nearby cities? Buckeye is generally more affordable than suburbs like Goodyear or Peoria, with similar housing options and amenities. However, it may have longer commutes to some Phoenix job centers.
Making Smart Housing Decisions in Buckeye
For anyone considering a move to Buckeye, carefully weighing the cost of living in an apartment vs house is essential. Renting can offer flexibility and predictable monthly costs, while homeownership provides long-term stability and investment potential. Factors like household size, income, savings, and future plans should all guide the decision.
Regardless of whether one chooses to rent or buy, budgeting is key. In addition to upfront costs like deposits and down payments, be sure to account for ongoing expenses like utilities, insurance, and maintenance. Location matters too – properties closer to amenities and transportation may come with higher costs but could save money in other areas.
Ultimately, making an informed housing choice in Buckeye requires a clear understanding of one’s needs, means, and long-term goals. By exploring options, crunching numbers, and planning ahead, residents can find the right fit for their lifestyles and budgets in this growing Phoenix suburb. For more tips and insights, check out our comprehensive guide to the cost of living in Buckeye.