Market Overview: The Arizona housing market mirrors trends currently seen in other western states. According to statistics from Redfin, home prices rose 1.2% year-on-year through September 2025. Rising demand resulted in a sharp increase in the number of homes sold (10.1%), with inventory on the market rising 11.1% in that time.

The median sale price for a home in Arizona was $446,900, with an average listing time of 71 days. The fastest-growing metros in Arizona include Sedona and Catalina Foothills, both experiencing solid double-digit growth. In Arizona, 13.6% of homes sold above their listing price. This is excellent news for the property market, as it indicates bidding wars occurred.

LOCAL NEWS: Phoenix housing market outpaces national trends again in 2025

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Breaking It Down: US Dept of Veterans Affairs FY Figures (August 2025)

Equally important trends are evident with veteran homeownership in Arizona. The US Department of Veterans Affairs (VA), in its VA home loans report, lists the full year for 2025, the August schedule with lenders and loan volume. The grand total of loans guaranteed amounted to 42,257, with an average loan amount of $390,956.

The total loans granted for the full year ending August 2025 were $16,520,635,503. Of that figure, the total purchase amount was $11,917,242,616. The cash out refinance amount was $2,660,166,361. The data clearly show that most VA loans in Arizona were used for new home purchases rather than cash-outs based on equity share in existing real estate.

First, veterans qualify for special benefits when purchasing a home in Arizona. Foremost among them is the VA home loan program. This government-backed initiative extends favorable terms to veterans, service personnel, and eligible family members. As a veteran in the Arizona real estate market, buying a home comes with many perks. These include the following:

  • Vets routinely qualify for lower interest rates, or rates on par with prevailing mortgage rates.
  • Vets who own their own homes have many tools at their disposal to bolster their financial portfolio. One option is a VA cash out refinance calculator. This allows vets to calculate their equity stake in their property quickly. Once approved, funds can be redirected to remodeling, investments, education, liquid assets (cash-in-hand), or any number of applications.
  • Vets are not required to make a down payment on any mortgage application. This is a unique benefit offered to veterans, thanks to partial government backing of VA loans.

Vets also don’t need to worry about PMI (private mortgage insurance) since there is no down payment requirement.

  • Veterans in Arizona benefit from various initiatives and programs that offer extra support and/or resources for veteran home buyers. These include specialized loan programs for vets or payment assistance programs.
  • Vets may qualify for VA home loans, even if their credit score is low. Since the VA does not set a minimum credit score requirement for VA home loans, vets find themselves in a better position with VA loans.
  • VA loans are typically associated with considerable flexibility among lenders. If one provider is stubborn, another may be more lenient. It’s the nature of the VA home loans industry.
  • Vets typically don’t worry about VA loan limits, but there are eligibility requirements to meet. This includes a government-issued Certificate of Eligibility. Lenders may impose their own limits, but again, vets are welcome to shop around.
  • Vets must meet the minimum monthly income requirements to service their mortgage and related expenses. Income requirements also include the debt/income ratio.
  • Vets in Arizona benefit from a rapid processing system within 30–45 days.

Veterans as a Percentage of the Population in Arizona

Arizona is currently ranked at #13 in the nation in terms of its total veteran population. As of 2019 figures, the total veteran population of the state is 515,512. Vets qualify for many benefits in the state. Below is the breakdown of veterans in Arizona:

  • Yuma County: 6.42% – 9.09%
  • Mohave County (Lake Havasu): 9.10% – 11.77%
  • Maricopa County (Phoenix): 6.42% – 9.09%
  • Cochise County (Sierra Vista): 14.46% – 16.74%
  • Gila County (San Carlos): 3.59% – 6.41%
  • Pima County (Marana): 6.42% – 9.09%
  • Coconino County (Bellemont): 3.59% – 6.41%
  • Yavapai County (Prescott): 14.46% – 16.74%

High-density veteran regions like Cochise and Yavapai counties also correlate with strong demand for VA-backed financing. This underscores the program’s importance outside the metro hubs.

Source: Data provided by Data.VA.Gov Arizona