How ASU Enrollment & Winter Visitor Trends Shape the Arizona Housing Market

The Arizona housing market, and specifically that in the Phoenix metro area, is anything but average, and two often-overlooked forces are helping to keep it that way. Every fall, Arizona State University welcomes one of the largest student populations in the country. And every winter, thousands of domestic and international snowbirds return to enjoy our state’s warm climate and blue skies.

Together, these population surges create powerful ripple effects on home values, rental inventory, and investment opportunities in Tempe, Mesa, Chandler, Gilbert, Scottsdale, and across the Valley.

As a mortgage originator based in the Phoenix area, I’ve seen firsthand how both seasonal and student-driven housing demand influence real estate decisions for year-round residents, investors, and even parents of ASU students. Whether you’re shopping for your first home, your next rental property, or a smarter alternative to paying dorm fees, understanding these local dynamics can help you make the most of your move.

Rising ASU Enrollment Keeps Tempe Real Estate Competitive

Arizona’s housing stock has struggled to keep pace with population growth. Household growth has outpaced housing unit growth by over 10 percentage points since 2012. ASU enrollment continues to expand to the tune of 80,000 students currently attending Tempe campus in person.

This drives up rental demand not just in Tempe, but in adjacent neighborhoods like South Scottsdale, Mesa, and Chandler. Median rents in Arizona jumped nearly 72% from 2010 to 2022, and investors have taken note. Homes and condos within a 10- to 15-minute drive of campus are increasingly sought after as student rentals.

The Top 5 Neighborhoods Near Tempe ASU for Off-Campus Rentals

Neighborhood	Why It Ranks High
Downtown Tempe	Walking distance to campus, coffee shops, restaurants, strong student rental yields
Alderdale / Roosevelt	Charming homes, close proximity, high demand for roommates
Broadmor / Maple-Ash	Established area, single-family homes, accessible to ASU without dorm noise
South Scottsdale	Affordably-priced, still only ~10 minutes to campus via car or bike
Old Town Scottsdale	Vibrant lifestyle, strong short-term rental potential, tech/remote-worker appeal

For parents of students, purchasing a condo or townhouse near ASU can be a financially sound move. With student rent prices on the rise, buying a property your student can live in (and eventually rent out to roommates or future students) can offset dorm costs and even build equity during their college years.

We often work with parents and family members exploring options like investment loans or second-home mortgages to help them finance properties that serve both personal and financial goals. It’s all about creating long-term value while meeting short-term housing needs.

Seasonal Population Surges Create Unique Buyer and Renter Demand

Arizona continues to be one of the top states in the U.S. for snowbirds, and the East Valley is especially attractive to seasonal homeowners. According to a 2024 report by StorageCafe, Mesa, Gilbert, and Chandler all rank among the top 100 U.S. cities for snowbirds thanks to their mild winters, strong amenity offerings, and housing options ideal for part-time living.

In fact, over half of vacant homes in some of these Maricopa County and Coconino County communities are vacation properties, making this one of the most saturated U.S. markets in which to buy a second home. It’s true that Canadian interest U.S. real estate has softened in the face of shifting immigration, economic and foreign policy in 2025. That said, seasonal rental property trends and homebuying transactions remain high thanks to Arizona’s warm, outdoorsy appeal.

The Top 5 Neighborhoods for Snowbirds in the Phoenix Metro Area

Neighborhood	Why It Ranks High
Dobson Ranch (Mesa)	Waterfront golf community with mature trees, active HOA, and strong rental appeal
Gilbert Heritage District	Walkable downtown with restaurants, live music, and community events
Downtown Mesa	Access to light rail, arts venues, and seasonal events; rising rental interest
Chandler Village	Newer condos and townhomes near shopping, parks, and healthcare
Sunland Village (Mesa)	55+ community with pools, golf, pickleball, and winter-long social activities

These neighborhoods offer a blend of affordability and lifestyle perks that are ideal for part-time living. Many HOAs allow part-time residency, and investors in the area have leaned into creating snowbird-ready inventory, including single-family homes and condos.

Features like low-maintenance landscaping and xeriscaping, updated HVAC systems, and community amenities all boost appeal to this demographic. Amenities like heated pools, low-maintenance yards, and proximity to medical care make them especially attractive. Plus, fast internet speeds—up to 458 Mbps in Gilbert—help meet the needs of remote workers spending part of the year in the Valley of the Sun.

If you’re buying a second home to use part-time or rent during the winter season, these locations are smart places to start. Our team at LendPro can walk you through second-home loan requirements, including down payment thresholds, occupancy rules, and financing options for part-time landlords. For homeowners and investors alike, this can mean increased rental revenue, property appreciation, and turnover during high-demand months.

What This Means for Homebuyers in Phoenix and Tempe

If you’re a full-time resident navigating the local housing market, ASU’s growth and Arizona’s seasonal population spikes may not seem immediately relevant. But both trends influence inventory levels, price points, and competition across the Valley.

Homes that are affordable, near campus, and suitable for roommates tend to move fast, even in slower seasons. The same is true for turn-key properties in 55+ or resort-style communities that appeal to snowbirds. These pressures can make it more challenging for year-round buyers to find move-in-ready homes at entry-level price points.

That’s where having the right mortgage partner comes in. Our team helps Arizona buyers get pre-approved quickly and competitively. We work with multiple loan types, from FHA and VA loans to conventional and DSCR loans, so we can find the right fit for your situation, whether you’re a first-time buyer, a move-up homeowner, or a seasoned investor.

We also help you understand the full picture: financing options, down payment assistance  programs, and how local factors like ASU’s academic calendar or the seasonal rental market could shape your purchase strategy.

A Growing Market for Investors and Real Estate Agents

For real estate investors, the Phoenix metro remains a promising landscape. Between ASU’s ever-expanding enrollment and the steady influx of winter visitors, there’s no shortage of demand for short-term rentals, seasonal housing, and long-term investment properties.

Properties that meet the needs of either students or snowbirds tend to perform well year over year. Investors who buy near desirable anchors like university campuses and hospitals benefit from predictable lease turnover and strong rent potential.

If you’re an agent working with investor clients, this is a great time to brush up on financing solutions that cater to buyers looking for non-owner-occupied properties. We can help your clients explore asset-based lending, DSCR loans, and other creative solutions to get more deals across the finish line.

We can also help you stay up to date on the unique timing to the real estate markets in the Phoenix, Arizona metro area. For example, rental activity peaks in July through early August as students secure off-campus housing before classes begin.

That in turn means that parents of students and investors are shopping earlier in the year, often April through June, to allow time for closing, repairs, furnishing and move-in before the semester begins. Meanwhile, there’s a small spring surge in rental activity before home sales and spring transfers pop around graduation.

Meanwhile, snowbirds are shopping not around the academic calendar, but ahead of frigid northern weather and the holiday season. Winter buyers arrive in the early fall with cash in hand, creating pressure on active listings at a time of year that is often slower for real estate transactions, even in other sun belt cities.

October through February is a hot season for winter home sales, especially in the 55+ communities and condos in and around Mesa, Chandler and Gilbert. The snowbird rental market is typically booked solid from January through March, and there’s often a spring pop of home purchases from snowbirds who decide to commit to homeownership after a successful winter—or who opt to list their homes ahead of the upcoming season.

Ready to Start the Conversation?

Whether you’re moving to the Phoenix area full-time, buying your student’s first condo, or building your real estate portfolio, understanding how local trends affect the housing market can help you buy smarter. ASU’s growth and Arizona’s winter surge of visitors are more than seasonal blips—they’re long-term patterns that shape real demand.

If you’re ready to explore your options, get pre-approved, or just talk strategy, let’s connect. Team Lendpro is proud to serve buyers, agents, and investors throughout the Valley, with deep local expertise and a full range of mortgage solutions. We’ll walk you through every step, from your qualification criteria to occupancy requirements to exploring how best to structure the loan based on your ownership goals.

Ken Bouthillier

Originating Branch Manager | Team Lendpro
NMLS ID #699695
📍 Based in Phoenix, proudly serving Tempe, Mesa, Scottsdale, Chandler, and beyond.