Homes for Sale in Phoenix, AZ Under $500,000

Buying a home in Phoenix doesn’t have to mean stretching your budget. There are plenty of options under $500,000 — from stylish condos and townhomes to charming single-family homes in established neighborhoods and brand-new builds in growing communities.

This page updates in real time, so you can see the newest Phoenix homes under $500k the moment they hit the market.

Why Start Your Search Here?

  • Stay ahead: New listings appear here as soon as they’re active in the MLS.
  • Save your favorites: Keep track of homes you love in one place.
  • Set alerts: Get instant notifications when a new property matches your budget.
  • Filter with ease: Narrow by neighborhood, square footage, lot size, pool, HOA, and more.

What You’ll Find Under $500K in Phoenix

  • Condos & Townhomes: Low-maintenance living, close to shopping, dining, and transit.
  • Single-Family Homes: Established neighborhoods with yards, shade trees, and character.
  • New Construction: Modern finishes, energy-efficient designs, and builder warranties.
  • Investment Opportunities: Rental-ready properties with strong cash flow potential.

Tips for Buying in This Price Range

  • Be ready to move fast: Homes under $500k often sell quickly in Phoenix.
  • Get pre-approved: A strong pre-approval can help your offer stand out.
  • Watch for price drops: Motivated sellers may adjust pricing for a quicker sale.
  • Think long-term: Consider appreciation potential and neighborhood growth.

Looking for a head start? Tell me your must-haves, and I’ll send you a curated list of homes under $500k that actually fit your needs.

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$429,265
2 Beds 2 Baths 7058862 MLS 1,502 SqFt.
Designed for simplicity and style, The Grove offers a streamlined layout that makes the most of every square foot. With 2 bedrooms plus den this floor plan provides the flexibility you need-whether you're creating a guest space or home office. We have upgraded this home to include double vanities in the Primary bath and disc lighting and luxury vinyl plank flooring throughout. The Kitchen is styled with 36'' soft close cashew colored cabinets with satin nickel hardware and Quartz countertops, Stainless appliances and gas range. You will find the large covered patio perfect for entertaining. The main living areas feature a seamless, open-concept design, with a natural flow from the kitchen to the dining and family room. Home is pre-plumbed for a soft water system. Vineyards at Cottonwood by Davidson Homes offers exceptional new home living in the heart of Cottonwood, AZ. Situated just minutes from historic Old Town Cottonwood and its lively Main Street, this community places you close to the best of the Verde Valley lifestyle. Surrounded by natural beauty and outdoor adventure opportunities, Vineyards at Cottonwood blends small-town charm with modern convenience. Enjoy thoughtfully designed floor plans, quality craftsmanship, and easy access to outdoor activities like hiking and biking, and the scenic Verde River. Discover a community where comfort meets connection - all in one of Cottonwood's most desirable locations.

997 Annas Avenue, Cottonwood

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