Tempe Homes under $500,000

Welcome to Tempe, Arizona – a vibrant city that beautifully blends the energy of a bustling college town with the charm of a close-knit community. Nestled in Maricopa County, Tempe is renowned for its stunning desert landscapes, rich cultural scene, and an abundance of outdoor activities. Home to Arizona State University, Tempe thrives with youthful enthusiasm, offering an array of dining, shopping, and entertainment options that cater to all tastes.

For those seeking affordable housing in this dynamic city, you’ll be delighted to discover a variety of homes available for under $500,000. Whether you're a first-time homebuyer, a growing family, or looking to downsize, Tempe presents an impressive selection of properties that fit your budget without compromising on quality or location. From charming single-family homes with spacious backyards to trendy townhouses in lively neighborhoods, there’s something for everyone.

Living in Tempe means enjoying easy access to beautiful parks, scenic lakes, and miles of hiking and biking trails, perfect for outdoor enthusiasts. The city also hosts a vibrant arts scene, with galleries, theaters, and live music venues that keep the cultural pulse alive. Plus, with its close proximity to Phoenix and Scottsdale, residents can enjoy the best of both worlds – a peaceful suburban lifestyle with the excitement of city living just a short drive away.

Explore the possibilities of making Tempe your home, where affordability meets an enriching lifestyle, and every day is filled with adventure and community spirit. Your dream home awaits!

Newest Tempe Homes under $500,000

$499,999

2 Beds ⋅ 2 Baths ⋅ 7092606 MLS

Welcome to a masterpiece community - The Cottonwoods of Anozira. Find yourself transported into the Oasis of Solitude first envisioned by award winning and highly acclaimed architect, Adolf DeRoy Mark. Each unit was painstakingly crafted to be expansive, yet intimate. Unit 44 is the epitome of sensuous charisma. This community and these homes are highly sought after, yet seldom achieved. Our listing is both affordable and attainable. A beautiful entryway welcomes you to your new home featuring a high ceilinged great room with beautiful wood beams, a warm and inviting kitchen, 2 bedrooms, 2 exquisitely remodeled bathrooms, a 2 car garage and a lovely patio w gate to 1 of several community ponds. The gatehouse library, pickleball, pool and teahouse give one a sense of community. Welcome Home

6411 S River Drive Unit 44, Tempe

$330,000

1 Beds ⋅ 1 Baths ⋅ 7092371 MLS

Cheerful East-facing condo with direct-entry 1 car garage into laundry room and private stairs to main living level. Front door from common area overlooks the heated resort-style pool. NEW H2O HEATER in 2026. NEW HVAC SYSTEM in 2026. Large BR closet. Private balcony accessible from BR and Full-sized W/D. Breakfast bar and space for dinette. Updated lighting and ceiling fans. Community amenities include pool with hot tub; fitness center; Bar-b-que area; gated parking lot. One surface spot and one guest parking pass supplement the garage space. Previously rented annually; great for snowbirds, owner-occupant or investor.

420 W 1st Street Unit 211, Tempe

$229,000

2 Beds ⋅ 1 Baths ⋅ 7092284 MLS

Welcome to this BEAUTIFULLY UPDATED townhome in Villas Tempe! A private front yard is just the beginning, where you can relax or enjoy BBQ. It also includes an attached laundry/storage room. The interior boasts clean lines that promote a modern feel! Enhanced by fresh neutral palette, new ceiling fans & light fixtures, tons of natural light, and new wood-look tile flooring in common areas. You'll love the seamlessly flowing living & dining room, perfect for everyday living and entertaining! The renewed kitchen boasts SS appliances, new quartz counters, a walk-in pantry, ample cabinetry, and a breakfast bar. Both carpeted bedrooms are upstairs, along with a shared full bathroom! Assigned parking space for your convenience. Enjoy the nearby Community pool! Excellent location! Owner/Agent.

1020 E Redfield Road, Tempe

$269,900

1 Beds ⋅ 1 Baths ⋅ 7092218 MLS

Live in DT Tempe, Single level 1 bed-1bath w/ front & back patios. Abundant lighting w/ an excellent open-concept floor plan. Wood floors in common areas & carpet in bedroom. Living area highlighted with fireplace & dining area. Kitchen equipped w/ gorgeous appliances & plenty of cabinetry. The sizable bedroom features french double doors out to the patio, & plenty of closet space,w/ mirrored sliding doors off the bathroom, full-size washer & dryer. The outdoor covered patio provides the perfect spot for outdoor living. Walk to DT TEMPE for easy lifestyle. Can be used as second home or corporate rental. Enjoy the amenities, including a community pool & spa, & a prime, convenient location to walk to Sky Train, ASU, Mill Ave, the light rail, shopping, dining, & tempe beach park

154 W 5th Street Unit 122, Tempe

$485,000

3 Beds ⋅ 2 Baths ⋅ 7092179 MLS ⋅ 1,669 SqFt.

FANTASTIC TEMPE OPPORTUNITY WITH NO HOA! Major Big-Ticket Updates are Already Completed--Enjoy Total Peace of Mind with a BRAND NEW ROOF and an A/C System that is only 5 Years Old! This 3-bedroom, 2-bathroom Single-Story Home Offers a Bright, Open Floor Plan. Featuring Clean Interior Finishes. Recently Added New Vinyl in 3 Bedrooms. The Floor Plan Provides Functional Living Spaces Ready to Make your Own. Outside, the Generous Property Boasts a Side RV Gate, Beautifully Landscaped Front Yard, 2-Car Garage, Large Covered Patio, Large Shed. Exceptional Central Tempe Location with Fast, Convenient Access to Nearby Freeways (101/Priest& Baseline) , Shopping, Dining, and Entertainment. Solid Bones, Major Mechanical Updates. Great Value! This Home is a Must See.

2115 E Fremont Drive, Tempe

$339,999

2 Beds ⋅ 3 Baths ⋅ 7092018 MLS ⋅ 1,105 SqFt.

Welcome to the coveted community of Villagio, where you can live in this beautiful 2-bedroom, 2.5-bath home with a 2-car garage for an unbeatable price. CUBS spring training is across the street, and the NOVUS innovation corridor is just 3 miles away! Make us an offer today and enjoy your gated community living with two pools and a dog park. Keep cool with a newer AC unit and enjoy a new dishwasher, washer, and dryer full-size stack. Excellent location off 101/202 near ASU, SKY HARBOR, and minutes from OLD TOWN. The convenient half bath adds everyday functionality, while two full bathrooms serve the bedrooms. Your dynamite HOA is only $248 a month and covers the roof, exterior maintenance of the unit, paint, pest control, and so much more. Discover life at Villagio toda

2402 E 5th Street Unit 1692, Tempe

1111 W University Drive Unit 3008, Tempe

$395,000

2 Beds ⋅ 2 Baths ⋅ 7091635 MLS

Welcome to turn-key urban living in the heart of Tempe. This sleek two-bedroom, two-bathroom condo seamlessly pairs a modern industrial aesthetic with high-end comfort. Step inside to an open-concept layout featuring soaring ceiling heights, brand-new interior paint throughout, modern finishes, and brand-new carpet in the living spaces and bedrooms. Framed by expansive windows, the main space offers picturesque views of the iconic Papago Mountains. Plus, with a showstopping Deadpool mural by a local artist anchored in the living room, this unit is truly a home you have to Marvel at. Designed for maximum flexibility and privacy, both oversized bedrooms function as dual suites, each boasting its own large walk-in closet and dedicated full bath. Nestled within a highly desirable gated community, residents enjoy premium amenities including secure underground garage parking, a fully equipped workout facility, and a resort-style community pool and spa. Positioned for an effortless daily commute, this home is just minutes from Downtown Tempe, the vibrant Mill Avenue district, Arizona State University main campus, and Phoenix Sky Harbor International Airport, with easy access to major freeways. Whether you are seeking a low-maintenance primary residence or a prime lock-and-leave base, this unit delivers style, space, and unmatched convenience.

1111 W University Drive Unit 3008, Tempe

$235,000

1 Beds ⋅ 1 Baths ⋅ 7091624 MLS

Unique opportunity - upper level 1-bed, 1-bath condo in the newest building of the complex. The unit offers a calm, neutral interior that's easy to make your own. Newer flooring and fresh paint. The living area opens to a balcony overlooking the pool, giving the space a brighter feel and a spot to unwind. Your bedroom is larger than most with an ample walk-in closet. A private storage closet off the balcony adds practical room for bikes, gear or added belongings. An assigned detached carport keeps parking simple, and the community clubhouse provides an extra place to gather. Just minutes from ASU, transit, cafes, and Tempe's everyday essentials, it's ideal for anyone seeking an easy urban lifestyle with convenience, walkability, and minimal upkeep.

1111 E University Drive Unit 235, Tempe

$179,900

1 Beds ⋅ 1 Baths ⋅ 7091528 MLS

Welcome to this beautifully remodeled ground-level condo in Chesapeake! This immaculate 1 bed/1 bath residence features ample natural light, striking wood-look tile, new carpet in the bedrooms, neutral colors, inside laundry, and an updated bathroom. The stunning kitchen boasts new quartz countertops, exquisite new cabinetry, and new stainless steel appliances. Enjoy the sparkling community pool and clubhouse, just steps from your front door. Situated right in the heart of Tempe, the property is conveniently located near ASU, great restaurants, nightlife, shopping, and both the I-10 and US-60 freeways. Perfect for owner-occupants and investors alike!

200 E Southern Avenue Unit 171, Tempe

$333,000

4 Beds ⋅ 3 Baths ⋅ 7091527 MLS

Newl Paint & Move-in Ready to this charming 2-story townhome. Facing the community pool and features 4 beds & 2 baths + powder room. The interior boasts abundant natural & LED lights, tile floors & soft carpet in the bedrooms, and an open-concept floor plan connecting the living and dining areas. The eat-in kitchen offers black appliances, ample wood cabinetry & counter space, a pantry, and a peninsula w/breakfast bar. The sizable main bedroom includes a private bath with a glass-enclosed tiled shower. A laundry closet adds convenience. Outside, an extended covered patio and storage room complete the backyard, with plenty of space for relaxing and entertaining. Enjoy nearby shopping & dining, with convenient access to ASU and US 60. Please note: The renovation is ending soon.

3330 S Elm Street, Tempe

5626 S Captain Kidd Court S Unit D, Tempe

$345,000

3 Beds ⋅ 3 Baths ⋅ 7091486 MLS

The only 3-bedroom home currently available in The Lakes of Tempe pairs fresh renovations with no neighbors above or below and priced less than 2-bedrooms. Be the first to cook in the new kitchen and enjoy new flooring, a sunlit primary suite and bright living spaces. Your HOA dues include fitness facilities, racquetball, pickleball, tennis, basketball, lakeside walks, two pools and two hot tubs, with no extra charge for you and your guests. Your dues also cover complete exterior maintenance, full roof replacement, water, sewer, garbage collection and a blanket insurance policy. Come see why folks say, ''Find me a home in The Lakes of Tempe.''

5626 S Captain Kidd Court S Unit D, Tempe

$479,999

3 Beds ⋅ 2 Baths ⋅ 7091367 MLS

Welcome to this owner-updated 3 bed, 2 bath home in a quiet, family-friendly Tempe neighborhood. You're close to ASU and Tempe Marketplace, yet tucked away on a calm street. The kitchen features refreshed cabinets, the guest bathroom has been lightly updated and there is tile throughout the home. You'll also love the inside laundry and extra pantry storage. The roof and AC are just 6 years old, so the big-ticket items are covered. The simple front yard keeps upkeep easy, while the backyard is ready for your vision, whether that's a pool, patio, or garden. No HOA means more freedom to make it your own.

2124 E Colgate Drive, Tempe

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