Investment metrics, interactive calculators, and data-driven analysis for Surprise rental properties.
Pre-filled with Surprise medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Surprise.
Surprise, AZ has a population of 155,000 and has been growing at 2.5% annually — well above the national average, signaling strong housing demand from population inflows. The median home price of $385,000 paired with median rents of $1,580/mo produces an estimated cap rate of 3.29%.
Property taxes at 0.6% are well below the national average of ~1.1%, providing a meaningful cash flow advantage many investors overlook. The vacancy rate of 4.8% is impressively low, indicating tight rental supply and strong tenant demand — favorable for landlords.
At a price-to-income ratio of 5.6x, homes cost about 5.6 times the local median income of $68,200. This moderate ratio indicates a balanced rent-vs-buy market. Home values have appreciated at roughly 3.1% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: At current median prices, Surprise is challenging for pure cash flow investing. Consider BRRRR strategies with below-market purchases, or look at neighboring metros with stronger price-to-rent ratios.