Tempe Real Estate Communities You Should Explore

Tempe Real Estate Communities & Homes for Sale

Tempe, Arizona offers one of the most diverse and centrally located residential real estate markets in the Phoenix metropolitan area, with housing options ranging from established single-family neighborhoods and historic homes to luxury custom residences, waterfront properties, condominiums, townhomes and urban living near Arizona State University.

Located between Phoenix, Scottsdale, Mesa and Chandler, Tempe appeals to buyers who value convenient access to employment centers, major freeways, Phoenix Sky Harbor International Airport, Arizona State University and the restaurants, entertainment and recreation surrounding Downtown Tempe and Tempe Town Lake.

Because Tempe is largely developed, much of its residential character comes from established neighborhoods rather than large new-home subdivisions. Buyers can find everything from mid-century homes near ASU to larger custom residences in South Tempe and condominiums within walking distance of Downtown.

Popular Tempe communities include Broadmor, Circle G Ranches, Hughes Acres, The Lakes, Alta Mira, Alisanos, Buena Vista Ranchos, Corona del Sol Estates, Tempe Gardens, Warner Estates and neighborhoods surrounding Arizona State University and Tempe Town Lake.

North Tempe & Papago Area Real Estate

North Tempe offers convenient access to Scottsdale, Phoenix, Arizona State University, Papago Park, Tempe Town Lake and major employment and entertainment areas.

Housing includes established single-family neighborhoods, condominiums, townhomes and infill development.

North Tempe can be particularly attractive to buyers who want a central Valley location with relatively quick access to Old Town Scottsdale, Downtown Phoenix, Sky Harbor International Airport and Downtown Tempe.

Because the area contains a combination of older residential neighborhoods and newer development, housing styles and property characteristics can change considerably within relatively short distances.

Downtown Tempe & ASU Real Estate

The area surrounding Arizona State University and Downtown Tempe provides one of the city’s most urban residential environments.

Buyers can find condominiums, townhomes, lofts, established single-family neighborhoods and newer residential developments near ASU, Mill Avenue and Tempe Town Lake.

Communities and neighborhoods such as Hughes Acres, Broadmor, Mitchell Park West, Riverside and Lofts at Orchidhouse provide different housing opportunities within the broader ASU and Downtown Tempe area.

Proximity to ASU, Downtown Tempe, employment, public transportation and entertainment makes location particularly important when evaluating properties in this part of the city.

Buyers considering a property for rental purposes should evaluate current zoning, HOA rules, rental restrictions and operating expenses rather than assuming every property near ASU will work equally well as an investment.

Central Tempe Real Estate

Central Tempe contains many of the city’s established residential neighborhoods.

Housing includes traditional single-family homes, remodeled mid-century properties, townhomes and condominiums. Many neighborhoods feature mature landscaping and larger lots than buyers may encounter in some newer suburban developments elsewhere in the Valley.

Communities such as Broadmor, Hughes Acres, Brentwood-Cavalier and Tempe Gardens illustrate the established residential character found throughout this portion of Tempe.

Central Tempe can appeal to buyers who want a traditional neighborhood environment while remaining close to ASU, Downtown Tempe, shopping, restaurants and major transportation corridors.

South Tempe Real Estate

South Tempe provides a noticeably different residential environment from the ASU and Downtown areas.

Buyers can find larger single-family homes, custom residences, luxury properties and established neighborhoods with larger homesites.

Communities such as Circle G Ranches, Alta Mira, Alisanos, Buena Vista Ranchos, Corona del Sol Estates and Warner Estates are among the areas buyers may consider when looking for larger or higher-end properties in Tempe.

South Tempe can be particularly attractive to buyers who want more space while retaining Tempe’s central location and convenient access to Chandler, Scottsdale, Phoenix and the East Valley.

Luxury & Custom Homes in Tempe

Although Tempe is not typically thought of as a luxury market in the same way as Paradise Valley or North Scottsdale, the city has a meaningful selection of high-end and custom properties.

South Tempe contains some of the strongest concentrations of luxury housing, including Circle G Ranches and other custom-home neighborhoods with oversized lots.

Buyers may find custom architecture, extensive outdoor living spaces, swimming pools, guest accommodations and larger homesites.

Because these properties are less standardized than homes in traditional subdivisions, lot size, construction quality, renovations, architecture and location can create substantial differences between properties with otherwise similar square footage.

Tempe Town Lake & Waterfront Living

Waterfront living is relatively uncommon in metropolitan Phoenix, which makes Tempe’s lake-oriented real estate particularly distinctive.

Tempe Town Lake is surrounded by a growing mix of residential, commercial, recreational and entertainment development. Buyers can find condominiums and other residential options with convenient access to the lake, Downtown Tempe and ASU.

Tempe also offers The Lakes, an established residential community built around a private lake environment.

These two locations provide very different versions of waterfront living. Tempe Town Lake is more urban and connected to Downtown, while The Lakes offers a more traditional residential neighborhood environment.

The Lakes in Tempe

The Lakes is one of Tempe’s most distinctive established residential communities.

The neighborhood includes single-family homes, townhomes and properties positioned around the community’s waterways and recreational amenities.

For buyers who want an established neighborhood with a feature that is unusual for Arizona—water—the community can offer an interesting alternative to more traditional Tempe subdivisions.

Individual properties should be compared based on location within the community, condition, renovations, lot characteristics and actual water orientation or views.

Tempe Condos, Townhomes & Urban Living

Tempe has a substantial selection of condominiums, townhomes, lofts and other lower-maintenance residences.

Options can be found near ASU, Downtown Tempe, Mill Avenue and Tempe Town Lake, as well as throughout established residential areas elsewhere in the city.

These properties can appeal to first-time buyers, professionals, seasonal residents, ASU-related buyers and people who prefer a lower-maintenance lifestyle.

Buyers considering a condominium or townhome should evaluate HOA fees, community amenities, reserves, insurance responsibilities and rental restrictions in addition to the purchase price.

Established & Historic Tempe Neighborhoods

Tempe’s long development history gives buyers access to residential architecture that is increasingly difficult to find in newer parts of metropolitan Phoenix.

Established neighborhoods can include ranch-style homes, mid-century properties and residences representing different periods of Tempe’s growth.

Some neighborhoods have mature trees, irrigation and architectural characteristics that distinguish them from newer master-planned developments.

Tempe also contains recognized historic districts and culturally significant residential areas.

Buyers considering a designated historic property should investigate whether preservation requirements could affect future exterior modifications or redevelopment plans.

New Construction & Redevelopment in Tempe

Because Tempe is largely built out, new housing development often occurs through redevelopment, infill construction and higher-density residential projects rather than large new single-family subdivisions.

Newer residential development has been particularly visible around Downtown Tempe, Arizona State University, Tempe Town Lake and major transportation corridors.

This creates opportunities for buyers who prefer newer construction but want to remain in a central Valley location.

Buyers comparing new construction with resale homes should consider HOA fees, parking, future surrounding development, builder incentives and the long-term differences between higher-density housing and established single-family neighborhoods.

Buying Investment Property Near ASU

Arizona State University’s Tempe campus creates consistent interest in nearby housing from students, faculty, employees, parents and real estate investors.

However, buying a property near ASU should not automatically be treated as a guaranteed investment.

Rental restrictions, HOA rules, property taxes, insurance, maintenance costs, vacancy, management expenses and the property’s exact distance from campus can all affect investment performance.

Investors should evaluate each property based on realistic rental income and total operating costs rather than relying solely on proximity to ASU.

Tempe vs. Scottsdale

Buyers frequently compare Tempe and Scottsdale because the cities border one another and provide convenient access to many of the same employment and entertainment destinations.

Tempe generally offers a more urban and university-oriented environment, particularly around ASU, Downtown Tempe and Tempe Town Lake. It also contains numerous established residential neighborhoods and South Tempe custom-home communities.

Scottsdale provides a much larger selection of luxury, golf, gated and resort-oriented communities, particularly in Central and North Scottsdale.

Buyers who prioritize ASU, a central Valley location or established neighborhoods may favor Tempe, while buyers focused on luxury master-planned communities, golf or resort amenities may prefer Scottsdale.

Tempe vs. Chandler

Tempe and Chandler also compete for many of the same homebuyers.

Tempe offers an older and more established housing stock, a central Valley location and direct access to ASU and Downtown Tempe.

Chandler is geographically larger and offers a broader selection of newer subdivisions, master-planned communities and newer construction.

Buyers may prefer Tempe for its central location and established neighborhoods, while Chandler may appeal to buyers looking for newer housing and a wider selection of suburban communities.

Finding the Right Tempe Community

There is no single Tempe neighborhood that is right for every buyer.

Someone prioritizing ASU, walkability and an urban environment may focus on Downtown Tempe and neighborhoods surrounding the university.

Buyers looking for established single-family neighborhoods may consider Broadmor, Hughes Acres, Tempe Gardens and other Central Tempe communities.

Those wanting larger homes, custom properties and larger lots may concentrate on South Tempe communities such as Circle G Ranches, Alta Mira, Alisanos and Warner Estates.

Buyers interested in waterfront or lake-oriented living may explore Tempe Town Lake or The Lakes.

Andrew Holm and The Holm Group have more than 26 years of experience helping buyers and sellers throughout Tempe, Scottsdale, Phoenix and the greater metropolitan area. Our team helps buyers compare Tempe communities based on location, property type, lot size, proximity to ASU, HOA requirements, condition and lifestyle before narrowing the search to individual properties.

Explore the Tempe communities and current homes for sale below to compare neighborhoods and discover which part of Tempe best fits what you’re looking for.

FAQs About Tempe Real Estate

1. What types of homes are available in Tempe, Arizona?

Tempe offers single-family homes, luxury and custom residences, condominiums, townhomes, lofts, waterfront properties and established homes dating from different periods of the city’s development. Buyers can choose between urban housing near ASU and Downtown Tempe, established Central Tempe neighborhoods and larger homes in South Tempe.

2. What are some of the most popular neighborhoods in Tempe?

Popular Tempe communities include Broadmor, Hughes Acres, The Lakes, Circle G Ranches, Alta Mira, Alisanos, Buena Vista Ranchos, Corona del Sol Estates, Tempe Gardens and Warner Estates. Buyers also frequently search for properties near ASU, Downtown Tempe and Tempe Town Lake.

3. Where can I find homes near Arizona State University?

Neighborhoods surrounding ASU and Downtown Tempe provide a combination of single-family homes, condominiums, townhomes and lofts. Broadmor, Hughes Acres, Mitchell Park West and Riverside are among the areas buyers may consider depending on the type of property and proximity to campus they want.

4. Where are the luxury homes in Tempe?

South Tempe contains many of the city’s larger and higher-end residential properties. Circle G Ranches is one of the best-known custom-home communities, while Alta Mira, Alisanos, Buena Vista Ranchos, Corona del Sol Estates and Warner Estates provide additional options for buyers searching for larger homes and established South Tempe neighborhoods.

5. Are there waterfront homes in Tempe?

Yes. Buyers can find lake-oriented and waterfront properties in The Lakes as well as condominiums and residential developments surrounding Tempe Town Lake. The two areas provide very different lifestyles, with Tempe Town Lake offering a more urban environment and The Lakes providing an established residential community.

6. Are there condos and townhomes in Tempe?

Yes. Tempe offers a wide selection of condominiums, townhomes and loft-style residences, particularly around ASU, Downtown Tempe and Tempe Town Lake. Lower-maintenance housing can also be found throughout other parts of the city.

7. Is South Tempe different from the ASU and Downtown areas?

Yes. South Tempe generally has a more suburban residential environment and contains larger single-family homes, custom properties and larger homesites. The ASU and Downtown Tempe areas are denser and offer more condominiums, townhomes, apartments, restaurants, entertainment and public transportation.

8. Are there historic homes in Tempe?

Yes. Tempe has recognized historic districts and culturally significant residential areas, along with many established neighborhoods containing older ranch and mid-century homes. Buyers considering designated historic properties should verify whether preservation requirements affect future modifications.

9. Is buying a property near ASU a good investment?

Proximity to ASU can create rental demand, but investment performance depends on the individual property. Buyers should evaluate purchase price, realistic rent, HOA and rental restrictions, property taxes, insurance, maintenance, vacancy and management costs before determining whether a property makes financial sense.

10. How can The Holm Group help me buy or sell a home in Tempe?

Andrew Holm and The Holm Group help buyers compare Tempe neighborhoods based on location, property type, proximity to ASU, lot size, condition, HOA requirements and lifestyle. With more than 26 years of experience throughout Tempe, Scottsdale, Phoenix and the surrounding Valley, the team can also help sellers position their homes against competing properties and market the characteristics that differentiate their neighborhood and property.