Phoenix, AZ Rental Market for Investors
An estimated 57% of Phoenix's active listings could cash-flow as a short-term rental — here's what the numbers say for investors, as of October 2026.
As of October 2026, we analyzed 4,103 active for-sale homes in Phoenix, Arizona. The typical listing is priced at $466,990 and is projected to generate about $45,936 a year as a short-term rental.
After setting aside an estimated 20% for operating costs, an estimated 56.7% of those homes could still cover an investor mortgage payment on short-term-rental income — roughly in line with the 53.1% median across the 200 major metros we track, ranking Phoenix #78 of 200 for cash-flow potential.
On market momentum: homes in Phoenix sit a median of 60 days on the market, and 29% of active listings came on in just the last 30 days — a steadily paced market, which shapes how much room there is to negotiate.
For a DSCR loan — which qualifies on the property's rental income rather than your personal income — that's a relatively healthy setup: in Phoenix, a meaningful share of listings throw off enough short-term-rental income, after costs, to cover an estimated investor mortgage payment.
Before you buy a rental in Phoenix
Official sources checked .
Include the Phoenix permit in your opening plan
Phoenix requires a city short-term rental permit. Its application also calls for a state Transaction Privilege Tax license and updated rental status with the Maricopa County Assessor. Build these steps into the time between closing and your first booking; a rental-income projection does not establish permission to operate. Phoenix short-term rental requirements.
Check a guest house before counting its income
An accessory dwelling unit can change the plan. Phoenix lists an owner-residency requirement for an ADU used as a short-term rental, plus a specific attestation notice for properties with newer ADUs. Ask the city how the rules apply to the property's permit history before including a separate guest-house revenue stream. Phoenix short-term rental requirements.
Plan for neighbor notification
The city's process includes notice to neighboring properties and certain registered associations. Ask your manager who will handle the notices and maintain the permit details. Check the current city checklist before advertising the home. Phoenix short-term rental requirements.
Compare Scottsdale. Compare the price and projected income separately, then use Scottsdale's own licensing checklist for any home across the city boundary.
Bring a property and your rental plan to the team to review the financing assumptions.
What actually works in Phoenix
Phoenix works for investors, but the window is specific: 997 of the 3,220 Phoenix homes, condos and townhomes we can price confidently clear a DSCR of 1.25. Nine in ten of them are priced under $512,000.
| Price | 1 bed | 2 bed | 3 bed | 4 bed | 5 bed |
|---|---|---|---|---|---|
| $150k–$250k | 33%1.11 | 77%1.49 | 98%2.03 | — | — |
| $250k–$350k | 2%0.87 | 24%1.11 | 73%1.41 | 98%1.67 | — |
| $350k–$500k | 0%0.71 | 5%0.85 | 39%1.19 | 55%1.30 | 64%1.46 |
| $500k+ | — | 1%0.55 | 5%0.85 | 12%0.84 | 13%0.85 |
Darker means a larger share of that group cash-flows. “—” means fewer than 8 active listings — too few to draw a conclusion from.
Phoenix in full
| Active for-sale homes analyzed | 4,103 |
|---|---|
| Median list price | $466,990 |
| Median projected STR revenue (annual, gross) | $45,936 |
| Median average daily rate (ADR) | $207 |
| Median occupancy | 62% |
| Median beds | 3 |
| Median size | 1,671 sqft |
| Estimated cash-flow-positive share | 56.7% |
| Median days on market | 60 days |
| New listings (last 30 days) | 28.9% of active |
As a user of this system, you agree to all Scout Terms & Conditions and Home & Mortgage Conditions.
Would a Phoenix rental qualify for a DSCR loan?
Pre-filled with Phoenix's median price and projected short-term-rental income — change any field to match a specific property.
Advanced
On a 5-minute call with you, we can use Scout to run real numbers on real properties.
Estimates for educational purposes. Final terms subject to credit, property & program approval.
5 senior bankers · 47 statesPressure-test the market before you trust the median.
We’ll help you compare the market-level signal with the exact property, local costs, rental rules, and financing structure.
Thinking about an investment property in Phoenix?
Send the address or your target buy box. We’ll run the property with today’s assumptions.
Prefer to talk now? Call or text Chad: 858-353-8331.