Tempe Homes under $500,000

Welcome to Tempe, Arizona – a vibrant city that perfectly blends urban living with the charm of a close-knit community. Nestled in Maricopa County, Tempe is renowned for its lively atmosphere, rich cultural heritage, and picturesque landscapes. Home to Arizona State University, this dynamic city pulses with youthful energy, offering an array of activities, dining options, and entertainment venues that cater to all lifestyles.

Tempe boasts an impressive selection of homes under $500,000, making it an ideal destination for first-time buyers, families, and investors alike. Whether you’re searching for a cozy single-family home, a modern townhouse, or a chic condo, you’ll find a variety of options that fit your budget without compromising on quality or comfort.

The neighborhoods in Tempe are diverse and welcoming, each with its own unique character. Enjoy the scenic beauty of the Tempe Town Lake, where you can kayak, paddleboard, or simply take a leisurely stroll along the waterfront. The city’s vibrant arts scene, highlighted by the Tempe Center for the Arts and various festivals throughout the year, ensures there’s always something exciting happening.

With its excellent schools, abundant parks, and convenient access to major highways, Tempe is not just a place to live; it’s a place to thrive. Discover the perfect home within your budget and experience the warmth and charm of Tempe, where a fulfilling lifestyle awaits you!

Newest Tempe Homes under $500,000

1905 E University Drive Unit D216, Tempe

$287,800

2 Beds ⋅ 2 Baths ⋅ 7090035 MLS

Discover this adorable two-story condo in Papago Park Village 2! Inside, you'll find a bright and inviting layout with wood-look flooring, vaulted ceilings for a feeling of openness, and a soothing palette that makes every space feel warm and welcoming. The impeccable kitchen displays ample cabinetry, a tile backsplash, tiled countertops, and built-in appliances (including a wine fridge) for a seamless cooking and entertaining experience. The main bedroom boasts a private bathroom with double sinks for extra comfort. The balcony is the perfect spot for enjoying a refreshing drink and relaxing after a long day. Conveniently located close to Tempe Marketplace, Arizona State University, an abundance of retail, shopping, and easy access from the 101 and 202 Freeways.

1905 E University Drive Unit D216, Tempe

$229,900

2 Beds ⋅ 1 Baths ⋅ 7089408 MLS

Updated ground-level 2-bed, 1-bath condo in an ideal Tempe location! Features newer cabinets, granite countertops, and luxury vinyl plank flooring. Enjoy a spacious south-facing patio and a lush community with mature landscaping and 3 pools. Located across from Papago Park and within walking distance of Tempe Town Lake Marina, offering easy access to recreation, dining, and entertainment for a true urban lifestyle.

700 E Mesquite Circle Unit P114, Tempe

$425,000

3 Beds ⋅ 2 Baths ⋅ 7089223 MLS

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. See floorplan with dimensions attached. The kitchen features an island, and the primary suite includes a dual vanity + separate shower and tub. North/south orientation on a 5,166 sq ft interior lot. Conveniently located less than a mile from I-10, approx 15 minutes from ASU and Sky Harbor Airport, 13 minutes from nearby hiking, and less than a half-mile walk to dining and retail. HVAC replaced with 3.5 ton Trane 2021, water heater 2024, garage opener 2023, disposal 2022. Home offers a great opportunity for updating!

1086 W Todd Drive, Tempe

$142,000

3 Beds ⋅ 2 Baths ⋅ 7088917 MLS

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

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

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

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

$269,000

2 Beds ⋅ 1 Baths ⋅ 7087480 MLS

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

$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

$359,900

3 Beds ⋅ 2 Baths ⋅ 7086808 MLS

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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