Tempe Homes under $500,000

Welcome to Tempe, Arizona—a vibrant city that perfectly blends a rich cultural heritage with modern living. Nestled in Maricopa County, Tempe is renowned for its stunning desert landscapes, bustling downtown, and the picturesque shores of Tempe Town Lake. Home to Arizona State University, this city pulses with youthful energy and innovation, making it an ideal place for families, students, and professionals alike.

One of the most appealing aspects of Tempe is its diverse housing market, particularly for those seeking homes under $500,000. Whether you’re a first-time homebuyer or looking to downsize, Tempe offers an array of charming properties that fit various lifestyles and budgets. From cozy single-family homes in family-friendly neighborhoods to contemporary condos near the vibrant Mill Avenue District, you’ll find something that suits your needs without breaking the bank.

Imagine living just minutes away from the dynamic arts scene, eclectic eateries, and endless outdoor activities that Tempe has to offer. With its warm climate and abundant sunshine, residents can enjoy year-round outdoor adventures, from hiking in the nearby South Mountain Park to paddleboarding on the lake.

Tempe’s strong sense of community, combined with its accessible amenities, makes it a desirable place to call home. With homes priced under $500,000, you can experience all that this remarkable city has to offer while investing in your future. Explore Tempe today and discover the perfect place to create lasting memories!

Newest Tempe Homes under $500,000

$425,000

3 Beds ⋅ 2 Baths ⋅ 7089223 MLS ⋅ 1,524 SqFt.

Great opportunity in a convenient location! This 1,524 sq ft home offers 3 bedrooms plus a den, great room floorplan, split bedrooms, vaulted ceilings, indoor laundry and a 2-car garage. The den already has a closet and door, offering potential for conversion to a 4th bedroom. The kitchen features an island, and the primary suite includes a dual vanity with separate shower and tub. North/south orientation on a 5,166 sq ft interior lot. Conveniently located less than a mile from I-10 access, approximately 15 minutes from ASU and Phoenix Sky Harbor Airport, 13 minutes from nearby hiking, and less than a half-mile walk to dining and retail. Home offers an opportunity for updating and personalization.

1086 W Todd Drive, Tempe

$142,000

3 Beds ⋅ 2 Baths ⋅ 7088917 MLS ⋅ 1,160 SqFt.

10,000 Seller concession available with an acceptable offer! Beautiful 3 bedrooms and 2 bath home move-in ready in all age community and pet friendly is a must see! Offering a bright, open floor plan with new carpet and fresh paint throughout. The gorgeous kitchen features modern stainless steel appliances, quartz countertops, and freshly paint cabinets. The home comes with central AC to keep the home cool and comfortable on the heat season. Chaparral Village community offers clubhouse, playgrounds, volleyball court, basketball court, soccer field, swimming pool, and billiard room perfect for fun and relaxation.

400 W Baseline Road Unit 124, Tempe

$475,000

2 Beds ⋅ 2 Baths ⋅ 7088855 MLS ⋅ 1,510 SqFt.

Mid-century Tempe charm meets meticulous care! Nestled in historic Hu-Esta Park, this 1957 Ranch features 2 bedrooms, 1.75 baths & a versatile studio/craft room with its own private entrance - perfect for a home office, studio, guest suite, or creative retreat. This home has been lovingly cared for: 2019 roof, 2025 Energy Star double-pane windows, updated plumbing, LVP flooring, remodeled kitchen and bath, and 2026 AC service. Enjoy turn-key confidence in a prime location: within the Broadmor Elementary boundary, moments from ASU, Downtown Mill Avenue shopping/dining, Tempe Town Lake, Papago Park, and Sky Harbor. Get anywhere you like without a car: you can access the Streetcar, Orbit & the Valley Metro light rail. Move right in & embrace solid, stylish living at the heart of Tempe!

2156 S Hu Esta Drive, Tempe

$299,500

2 Beds ⋅ 2 Baths ⋅ 7087850 MLS ⋅ 884 SqFt.

Remodeled, move-in ready and exceptionally well located! This true 2-bedroom, 2-bath townhome offers a stylish, updated interior with an open living space, modern kitchen, updated baths and thoughtfully designed finishes throughout. Enjoy your own private outdoor space and the ease of low-maintenance living in the heart of Tempe. Located near Hardy & Southern, just minutes from ASU, Sky Harbor Airport, shopping, dining and major freeways for easy access throughout the Valley. A turnkey Tempe home that combines location, style and convenience--ready for its next owner.

3306 S Parkside Drive, Tempe

$350,000

3 Beds ⋅ 2 Baths ⋅ 7087814 MLS ⋅ 1,439 SqFt.

Turnkey and completely move-in ready! This single-level 3-bed, 2-bath townhome in University Royal Garden Homes offers 1,439 sq ft of low-maintenance living with no neighbors above. Inside, enjoy fresh neutral paint, wood-look plank floors, and a bright living room with skylights and floating shelves flowing into a dedicated dining area. The kitchen features dark wood cabinets and stainless appliances. The primary suite boasts new carpet, an ensuite bath with a walk-in shower, and a sliding door out to a private yard with artificial turf and paver patio. Complete with 2 covered carport spaces and an HOA covering exterior maintenance, front yard care, water, sewer, and trash. Walk out front to an extensive park and community pool. Put this on your list to see right away

606 E Colgate Drive, Tempe

$450,000

3 Beds ⋅ 2 Baths ⋅ 7087776 MLS ⋅ 1,806 SqFt.

Welcome to this inviting 3-bedroom, 2-bath home in an established Tempe neighborhood. Offering approximately 1806 sq. ft., the home features a comfortable, functional floor plan with spacious living areas and a traditional style that has been well maintained over the years. The kitchen offers granite countertops, stainless steel appliances and ample cabinetry, with wood-look tile flooring throughout much of the home. Set on a generous lot with plenty of outdoor space to enjoy or make your own. Conveniently located near shopping, dining, parks, ASU and major freeways, this is a great opportunity to own a well-cared-for home in the heart of Tempe.

1873 E Watson Drive, Tempe

$269,000

2 Beds ⋅ 1 Baths ⋅ 7087480 MLS ⋅ 905 SqFt.

Welcome to this cozy, inviting Hudson Trace condo! Feel the good vibes and sensible style the moment you enter this bright, airy home featuring a 1-car garage, vaulted ceilings, and a spiral staircase to a flexible loft (ideal 2nd bedroom or office). Premium upgrades include a Bosch eco-friendly HVAC (2024), double-pane Jeld-Wen windows, new ceiling fans, and double French front doors with built-in blinds. The kitchen boasts granite countertops, a gray composite sink, and newer appliances, plus a new stackable washer/dryer (2025). The bathroom is beautifully updated with a new vanity, mirror, lighting, and toilet. Includes outdoor storage and a PRIME location at the convergence of the 101, 202, and US 60 freeways for an easy commute!

2333 E Southern Avenue Unit 2021, Tempe

$500,000

3 Beds ⋅ 2 Baths ⋅ 7087167 MLS ⋅ 1,660 SqFt.

PRICED TO SELL! This 3-bedroom, 2-bath Tempe home is priced well below market, creating an incredible opportunity to own in a prime location just minutes from ASU, Tempe Town Lake, Mill Avenue, Old Town Scottsdale, dining, shopping, entertainment, and major freeways. Inside, vaulted ceilings, plantation shutters, a cozy fireplace, and spacious living areas create a warm, inviting feel. The primary suite offers dual sinks and private backyard access. Step outside to your own Arizona retreat with a covered patio for entertaining and a sparkling pool perfect for sunny days and relaxing evenings. With a 2-car garage, great location, and compelling price, this is an opportunity you don't want to miss!

448 E Susan Lane, Tempe

$310,000

3 Beds ⋅ 2 Baths ⋅ 7087098 MLS ⋅ 1,088 SqFt.

Great location just minutes from freeway access, shopping, dining, and everyday conveniences. This charming duplex-style condo offers an inviting open floor plan with vaulted ceilings and a cozy fireplace, creating a comfortable living environment. The split primary bedroom provides added privacy and flexibility. Recent 2026 updates include carpet, vinyl flooring and fresh interior paint in neutral tones throughout. Enjoy the benefits of a quiet neighborhood along with community amenities including a private park and pool. A wonderful opportunity for comfortable, low-maintenance living in a convenient location! Owner Agent. Professional pictures coming.

1029 W Laguna Drive, Tempe

945 E Playa Del Norte Drive Unit 2007, Tempe

$399,000

2 Beds ⋅ 2 Baths ⋅ 7086894 MLS ⋅ 1,208 SqFt.

Luxury modern resort-style living on Tempe Town Lake! Step outside and jog or bike along the waterfront boardwalk, launch your kayak from your lakefront community, or simply relax and enjoy the incredible resort-style amenities. Surrounded by lush landscaping, the community features a cascading pool and spa overlooking the lake, a barbecue and entertaining area with bar, and a fully equipped fitness center. This beautifully updated 2 bedroom, 2 bath residence lives much larger than its square footage thanks to an impressive 250-square-foot east-facing patio, perfect for morning coffee, outdoor dining, and Arizona evenings complete with an exterior fireplace and additional storage. Inside, luxury upgrades continue with LVP flooring throughout, crisp white shaker cabinetry, granite counter tops, stainless steel appliances, custom bathroom vanities, subway-tiled showers in both bathrooms, fresh interior paint, and 5-inch baseboards. A full-size washer and dryer are conveniently located inside the unit. Whether you're looking for a full-time residence, lock-and-leave Arizona retreat, or a home surrounded by the energy and lifestyle of Tempe Town Lake, this one is a must-see!

945 E Playa Del Norte Drive Unit 2007, Tempe

$389,000

3 Beds ⋅ 2 Baths ⋅ 7086808 MLS ⋅ 1,250 SqFt.

Location, convenience & classic Tempe charm! This well-cared-for 1,235 SF block bungalow offers 3 bedrooms, 2 baths & decades of pride of ownership--the previous owner called it home since the 1990s. The backyard may be the real surprise: peaceful, private & unbelievably relaxing--it truly must be experienced to be appreciated! A rear RV gate off the alley leads to a covered carport that could easily double as a second covered patio. Plus a 1-car garage! Just minutes from ASU, Tempe Town Lake, Old Town Scottsdale, shopping, dining & major freeways. A wonderfully cared-for Tempe home in an incredibly convenient location!

1247 E Valerie Drive, Tempe

$449,900

3 Beds ⋅ 2 Baths ⋅ 7086627 MLS ⋅ 1,250 SqFt.

Welcome to this single-level 3-bedroom, 2-bath home in Tempe's established University Royal neighborhood with sparkling pool and no HOA! Offering 1,250 square feet, this 1974-built home has been thoughtfully updated with fresh neutral paint throughout, new carpet in the bedrooms, and modern finishes. The updated kitchen features new quartz countertops, new upper cabinetry, and a new dining-area chandelier. Both bathrooms have been thoughtfully updated. Step outside to your private backyard retreat with a freshly resurfaced pebble-finish pool, perfect for Arizona summers. Enjoy a convenient location minutes from ASU, Kiwanis Park, Ken McDonald Golf Course, shopping, dining, and easy US-60 access.

5709 S Palm Drive, Tempe

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