No junk fees. Wholesale rates. And a team with genuine Tempe roots — Ken Turkington lived full-time in Tempe for the past two years, owns a rental property there, and has two daughters who call Tempe home. One attended Arizona State University. This is not a market we serve from a distance.
Tempe is one of the most dynamic real estate markets in the Phoenix East Valley — a city shaped by ASU, a thriving tech and business corridor, and a growing population of young professionals, families, and investors. With median home prices running $480,000–$563,000 in early 2026 and homes averaging 51–65 days on market, prepared buyers have real opportunities right now.
Get Pre-Approved — It's FreeFirst Commerce Financial co-founder Ken Turkington has deep personal roots in Tempe. He lived full-time in the city for the past two years before recently moving back to Gilbert — and he still owns a rental property in Tempe. His daughter attended Arizona State University, and two of his daughters continue to live in Tempe. When Ken talks about the Tempe market, he is speaking from the perspective of someone who lived it, invested in it, and watched it evolve in real time.
Ken Turkington lived full-time in Tempe for the past two years — navigating the local market as both a mortgage professional and a homeowner. He owns a rental property in Tempe and has two daughters who live in the city. One attended Arizona State University, giving Ken a firsthand understanding of the ASU-adjacent rental and ownership dynamics that shape so much of the Tempe market.
Ken recently moved back to Gilbert but remains actively connected to Tempe through his rental property, his family, and his ongoing work with Tempe buyers and homeowners. This is not a city we added to a service area list — it is a market Ken knows from the inside.
Kirk Chivas co-founded First Commerce Financial with Ken in 2007 and brings 28+ years of mortgage experience to every transaction. Together, Kirk and Ken bring 60+ combined years of mortgage expertise and a genuine commitment to zero junk fees and complete transparency — in Tempe and every market they serve.
Who Buys in Tempe
Tempe attracts one of the most diverse buyer profiles in the Phoenix metro — from ASU graduates planting roots after college to tech and business professionals drawn by the city's employment corridor, to investors targeting Tempe's strong rental market. We have served all of these buyer types throughout our years in the East Valley.
Young Professionals and First-Time Buyers
Tempe's proximity to major employers, light rail access, and urban amenities make it a top choice for young professionals ready to stop renting and start building equity. The current market — with homes sitting longer and sellers offering concessions — gives first-time buyers more room to negotiate than they have had in years.
ASU Families and Alumni
Many families choose to purchase near ASU rather than pay four years of rent — and many ASU graduates choose to stay in Tempe after graduation. Ken's daughter attended ASU and he understands this market dynamic from personal experience. We work regularly with buyers in the ASU corridor.
Move-Up Buyers and Relocations
Tempe attracts significant relocation traffic from California, Illinois, Washington, and other higher-cost states. Buyers coming from markets like Chicago, Seattle, and Los Angeles — which account for significant inbound migration to Tempe — find the East Valley price point genuinely compelling by comparison.
Investors
Tempe's rental market is one of the strongest in the Phoenix metro — driven by ASU enrollment, a large young professional population, and a homeownership rate of just 42.3%, well below the national average. Ken owns a rental property in Tempe and understands the investor side of this market firsthand.
The Tempe Market in 2026 — What Buyers Need to Know
Tempe's housing market has shifted meaningfully in buyers' favor compared to the peak years of 2021 and 2022. Median sale prices for single-family homes are running $480,000–$563,000 depending on the data source and neighborhood — down from peak by roughly 3–9% year-over-year. Homes are sitting on market 51–65 days on average, inventory has expanded, and buyers are consistently finding more room to negotiate than they saw during the frenzy years.
The ASU Effect — What It Means for Buyers and Investors
Arizona State University shapes the Tempe market in ways that are unlike almost any other Phoenix suburb. With over 70,000 students on the Tempe campus, rental demand near ASU is structural and consistent — it does not fluctuate with the broader economy the way other rental markets do. For investors, this creates a reliable demand floor. For owner-occupant buyers near campus, it means strong resale demand and a liquid market even when the broader Phoenix metro slows.
Ken lived this dynamic firsthand as a Tempe homeowner and rental property investor. He is one of the few mortgage professionals in the market who can speak to it from genuine personal experience rather than market research alone.
Tempe's Employment Corridor — Why the Market Stays Strong
Tempe is home to a significant concentration of technology, financial services, and corporate headquarters — including major employers along the Price Road Corridor and the broader Tempe Town Lake development area. This employment base creates sustained demand from professionals who want to live close to work. Unlike some Phoenix suburbs that are purely residential, Tempe has genuine economic infrastructure that supports long-term housing demand independent of ASU.
Neighborhoods and Areas We Know Well in Tempe
Downtown Tempe & Mill Avenue
The heart of Tempe — walkable, urban, and vibrant. Median prices in the Downtown Tempe corridor run $683K+ for single-family homes. Strong demand from professionals and investors, with the Tempe Town Lake development adding significant long-term value to surrounding neighborhoods.
ASU Campus Area (85281 & 85282)
The neighborhoods immediately surrounding ASU — high rental demand, consistent investor activity, and a buyer profile that includes both families of students and graduates purchasing their first home. Ken's personal experience in this area gives us unique insight into the ownership dynamics here.
South Tempe (85284)
South Tempe — including the Buena Vista Ranchos area — offers Tempe's most upscale residential neighborhoods with larger lots and higher price points. The most expensive homes in Tempe consistently sell in the 85284 zip code. Ken lived in this part of Tempe during his two years as a full-time resident.
Central and East Tempe (85283)
Established neighborhoods with good value relative to Downtown and South Tempe. Popular with families and move-up buyers. Close to the Price Road employment corridor and easy access to both Phoenix and Chandler. The 85283 zip code has the highest concentration of homes currently listed for sale in Tempe.
Why Tempe Buyers Choose First Commerce Financial
Ken Actually Lived in Tempe
Ken did not license in Arizona and add Tempe to a dropdown. He lived full-time in Tempe for two years, owns a rental property there, and has two daughters who live in the city. He navigated the Tempe market as both a resident and a mortgage professional — and that experience translates directly into better advice for our clients.
Wholesale Rates — Not Retail Markup
As an independent mortgage broker, we shop your loan across dozens of wholesale lenders to find the lowest rate available for your situation. In a market where prices range from $400K in central Tempe to $3M+ in South Tempe's luxury segment, having an independent advocate fighting for your rate makes a real difference.
Zero Junk Fees
No processing fees. No administrative fees. No surprise charges at closing. What we quote is what you pay. Complete transparency from day one — the way we have operated since 2007.
Mortgage Programs for Tempe Buyers
Conventional Loans
The most common choice for Tempe buyers with solid credit. Competitive rates across all price points in the East Valley.
FHA Loans
3.5% down for first-time buyers and those with lower credit scores. Popular in Tempe's entry-level and mid-range market segments.
VA Loans
Zero down payment for eligible veterans and active military — no PMI. The Phoenix metro has a strong veteran community and we close VA loans in Arizona regularly.
Jumbo Loans
For South Tempe luxury properties and higher-priced homes above conventional loan limits. We compete strongly on jumbo rates in the East Valley market.
Investment Property Loans
For investors targeting Tempe's strong ASU-driven rental market. Ken owns a rental property in Tempe — we understand this market from the investor's perspective.
Refinance
Rate-and-term or cash-out refinancing for existing Tempe homeowners. We shop wholesale lenders to find your best option — and our Rate Watch System monitors rates on your behalf.
Frequently Asked Questions
Does Ken Turkington really have personal experience in Tempe?
Yes — Ken lived full-time in Tempe for the past two years as a homeowner and mortgage professional. He owns a rental property in Tempe and has two daughters who live in the city, one of whom attended Arizona State University. He recently moved back to Gilbert but remains actively connected to the Tempe market through his property and his family. When Ken advises Tempe buyers, he is speaking from genuine firsthand experience — not market research.
Is it a good time to buy in Tempe?
For prepared buyers, yes. The Tempe market has shifted meaningfully in buyers' favor compared to the 2021–2022 peak. Median prices are down 3–9% from peak depending on the source and neighborhood, homes are sitting on market 51–65 days on average, and buyers have more negotiating room than they have seen in years. Tempe's fundamental demand drivers — ASU, the employment corridor, and strong inbound migration — remain intact, which supports long-term value for buyers planning to stay 5+ years.
What is the median home price in Tempe?
Median single-family home prices in Tempe are running $480,000–$563,000 in early 2026 depending on the data source and neighborhood. South Tempe (85284) commands the highest prices — luxury properties regularly exceed $1M–$3M. Central and East Tempe (85282, 85283) offer more accessible price points in the $400K–$550K range. The ASU campus area (85281) has a wide range driven by the mix of condos, townhomes, and single-family properties.
Is Tempe a good market for investment properties?
Tempe has one of the strongest structural rental demand stories in the entire Phoenix metro — driven by ASU enrollment, a large young professional population, and a homeownership rate of just 42.3%. Ken owns a rental property in Tempe and can speak to the investor experience firsthand. We work with investors financing both single-family rentals and small multi-family properties throughout Tempe and the broader East Valley.
Do you serve all of Tempe and the surrounding East Valley?
Yes — we serve all of Tempe including Downtown, the ASU campus area, South Tempe, and Central and East Tempe. We also serve neighboring communities including Gilbert, Chandler, Mesa, Scottsdale, and all of the Phoenix East Valley. If you are buying or refinancing anywhere in the greater Phoenix metro, we can help.
Ready to Buy or Refinance in Tempe?
Talk with Ken — someone who lived in Tempe for two years, owns a rental property there, and knows this market from the inside. Whether you are a first-time buyer, an investor, or a homeowner looking to refinance — straight answers about what you qualify for and what your mortgage will actually cost. No pressure, no obligation.
Start Your Free Pre-ApprovalOr call or text us directly at (248) 459-5511
First Commerce Financial | Licensed Arizona Mortgage Broker | NMLS #137512 | AZ MB #1001354 | Serving Tempe and all of the Phoenix East Valley
