Imagine stepping out your door to galleries on Marshall Way, a coffee on 5th Avenue, and dinner along the Scottsdale Waterfront, all within a few minutes on foot. If you love a walkable lifestyle, Old Town Scottsdale makes daily life feel effortless. Choosing between a condo and a townhome here comes down to space, amenities, HOA rules, financing, and how you plan to use the home. In this guide, you will compare the two, see typical sizes and features, understand HOA and lending realities, and get a practical checklist that saves time and stress. Let’s dive in.
Why Old Town works for walkable living
Old Town, also called Downtown Scottsdale, is the city’s downtown character area, generally bounded by Chaparral Road to the north, Earll Drive to the south, 68th Street to the west, and Miller Road to the east. The city updated and adopted the Old Town Character Area Plan in 2024, which guides land use and mobility in this district. You can explore the plan and boundaries on the City of Scottsdale’s Old Town Character Area Plan page.
Daily life here is highly walkable for errands, dining, and entertainment. Walk Score rates the core area in the low 80s, which they define as Very Walkable. Transit options are more limited than large rail cities, so most residents pair walking with rideshare and bus service for regional trips. The lifestyle anchors are strong and close by, including Main Street and Marshall Way galleries, 5th Avenue retail, Scottsdale Fashion Square, and the Scottsdale Waterfront.
Condos vs. townhomes in Old Town
At a high level, a condominium means you own the interior of your unit and share ownership of common elements, with monthly HOA dues that usually cover exterior maintenance, common utilities, and amenities. A townhome is typically a multi-level home where you own the structure and the land underneath, though many townhome communities still have HOAs and shared elements. Lenders often underwrite townhomes like single-family homes, which can simplify financing compared with some condos. You can read simple definitions on NerdWallet’s overview of condos and townhomes.
Market-wide in zip code 85251, the median sale price for all home types was about $725,000 as of January 2026. Within Old Town, pricing varies widely by building age, size, and amenity level, so it pays to compare building-level comps before you decide.
What condo living looks like
Old Town condos often range from compact studios and one-bedrooms around 400 to 900 square feet to two-bedrooms from about 800 to 1,300 plus square feet. Prices span from older courtyard-style units in the lower price bands to luxury high-rise or amenity-rich residences that trade well above neighborhood medians. Recent examples in the area show smaller condos selling in the low to mid price ranges, while select luxury infill and high-rise properties can exceed the upper tier, depending on finishes, views, and services. Complexes like Courtyards at Market Street illustrate how central location and amenities can command premium prices.
What townhome living looks like
Townhomes around Old Town’s perimeter and infill pockets usually offer more interior space with 2 to 3 bedrooms and roughly 1,100 to 2,200 plus square feet. Multi-floor layouts, private garages, and patios are common. Pricing often overlaps with condos, though townhomes tend to sit above small condos and below top-tier luxury high-rise residences. If you want more storage, direct-access parking, and a little outdoor space while staying close to the action, townhomes are a compelling fit.
Amenities you can expect
Amenities vary by building, but you will frequently see:
- Resort-style pools and spas
- Fitness centers
- Secure lobbies and, in some cases, concierge or on-site management
- Assigned covered or underground parking, or private garages in many townhomes
- Elevators in mid and high-rises
- Rooftop decks or view terraces
- Package rooms and controlled access
- Utility line items such as water and trash sometimes included in HOA dues
If you are comparing two buildings, ask for a clear list of what the HOA covers, operational hours for facilities, and any rules that might affect your lifestyle, like pet, parking, or guest policies.
HOA fees, insurance and financing
Ownership in multifamily communities comes with a few realities that are easy to manage once you know what to look for.
How HOA dues are structured
Old Town HOA dues span a wide range, largely based on age, amenities, and services. You will see low-amenity courtyard communities in the lower monthly bands, mid-range buildings in the middle tiers, and high-amenity or luxury properties that exceed the highest monthly ranges. When you compare options, focus on what those dues actually cover, not just the dollar amount. Ask for the operating budget, reserve study or summary, recent special assessments, the delinquency rate, and whether any litigation is pending. These items can affect your long-term costs and future resale.
Insurance basics for condos and townhomes
Most condo and townhome owners carry an HO-6 policy, often called walls-in coverage. The HOA carries a master policy that insures common areas and the building envelope. The scope of that master policy matters. If it is bare-walls, your HO-6 must cover interior finishes and upgrades. If it is all-in, the master policy covers more of the interior. Always review the HOA’s master policy summary and deductible, then tailor your HO-6 to fill the gaps. Forbes has a clear overview of policy types and what HO-6 typically covers.
- Learn more about unit owner and master coverage on Forbes: homeowners insurance policy types.
Financing and project approvals
Condo financing can hinge on project approvals. If a building is not approved for FHA or VA, buyers who rely on those loans may face extra steps or a smaller lender pool. Some condos are considered non-warrantable for conventional loans, which can also narrow options. Townhomes that are fee-simple and individually owned are often simpler to underwrite. If you plan to use an FHA or VA loan, verify the project’s status or whether single-unit approval is realistic before you write an offer. Better Mortgage explains how FHA condo approvals and single-unit approvals work.
- Read FHA condo approval basics on Better: FHA condo approval guide.
Short-term rentals in Scottsdale
Arizona law allows short-term rentals while giving cities room to regulate operations. Scottsdale requires licensing and registration, sets occupancy and life-safety rules, defines notification and emergency contact duties, and collects applicable transaction and bed taxes. Even if the city allows licensing, your HOA may have restrictions or outright prohibitions on rentals under 30 days in its CC&Rs. If you plan to rent, confirm HOA rules, city licensing, tax registration, and insurance requirements before you close.
- Review Scottsdale’s short-term rental rules and registration on the city’s Vacation and Short-Term Rentals page.
Who each property type fits
- Condos: Ideal if you want low-maintenance, lock-and-leave living with strong walkability. If you like being steps from dining and nightlife, you will appreciate the convenience, though you should be comfortable with occasional urban noise. If you are investing, confirm HOA rental minimums and city licensing rules first.
- Townhomes: A smart pick if you want more interior space, separation across levels, a private garage, or a small outdoor area. Townhomes often balance a residential feel with downtown access, and financing can be simpler than certain condos.
Quick HOA and financing check
Use this short list as you compare buildings:
- Dues and coverage: What do monthly dues include, and are there pending or recent special assessments?
- Reserves: When was the last reserve study, and is the reserve funding level adequate?
- Master insurance: Bare-walls or all-in, and what is the master deductible? Then price your HO-6 accordingly. See Forbes for policy types.
- Financing: Is the building FHA or VA approved, or will your lender allow single-unit approvals? Better’s FHA approval guide explains the process.
- Rental rules: Minimum lease length, any rental caps, and whether short-term rentals are allowed. Confirm Scottsdale licensing and operational duties on the city’s STR page.
Buyer due-diligence checklist
Request these items before, during, and right after contract acceptance so you have time to review and, if needed, negotiate repairs or credits.
- HOA resale packet: Current budget, balance sheet, reserve study or summary, last 12 months of meeting minutes, insurance declarations and master policy summary, rental rules and minimum lease terms, any pending litigation, current special assessments, and owner delinquency percentage.
- Building systems: For condos, ask about elevator maintenance history, roof age, pool replaster dates, and the age of common mechanicals like plumbing and HVAC components. Ask if any capital projects are planned in the next 1 to 5 years.
- Financing permissions: If you need FHA or VA, confirm whether the project is approved or if single-unit approval is common. For conventional loans, ask about investor concentration and any project-level underwriting constraints. See Better’s FHA overview for what matters.
- Short-term rentals: Confirm city licensing, required neighbor notifications, occupancy limits, and applicable taxes. Check HOA CC&Rs for any restrictions on rental length or caps. Review Scottsdale’s STR page for the latest rules and registration steps.
- Insurance: Request the HOA’s master policy summary, carrier name, coverage scope, and deductible. Then obtain an HO-6 quote tailored to the gaps. Forbes’ policy guide is a helpful primer.
- Parking and storage: Confirm assigned stalls, whether parking is deeded, guest parking rules, bike storage availability, and any relevant street permits.
Property taxes at a glance
Your total property tax bill includes overlapping taxing districts, which can include city, county, school, and special districts. Scottsdale publishes public notices each fiscal year that describe the city’s portion of the tax rate and levy. Maricopa County handles valuations and uses both Full Cash Value and Limited Property Value in assessments. For current rates and valuation details, refer to the City of Scottsdale’s public notices and the Maricopa County Assessor.
- See Scottsdale’s current public notices for city tax information.
- Visit the Maricopa County Assessor for valuation and assessment details.
Ready to compare options?
Whether you prefer a sleek lock-and-leave condo near Fashion Square or a quiet townhome with a private garage on the Old Town perimeter, your best next step is a building-by-building comparison. From HOA strength and capital plans to financing approvals and rental rules, small details can change your monthly costs and long-term resale. If you want a curated list tailored to how you live, connect with a local advisor who knows the micro-markets and the documents that matter.
If you are ready to tour, compare dues, and stress-test financing side by side, reach out to Racquel Miller for private guidance.
FAQs
What are the boundaries of Old Town Scottsdale?
- Old Town, also called Downtown Scottsdale, is generally bounded by Chaparral Road to the north, Earll Drive to the south, 68th Street to the west, and Miller Road to the east, as outlined in the city’s Old Town Character Area Plan.
How walkable is Old Town for daily errands and dining?
- Walk Score places the core area in the low 80s, considered Very Walkable, with many residents relying on walking plus rideshare and buses for regional trips.
What are typical condo sizes and features in Old Town?
- Many condos range from studios and one-beds around 400 to 900 square feet to two-beds around 800 to 1,300 plus, often with shared amenities like a pool, fitness center, and secure lobby.
How do townhomes compare on space and parking near Old Town?
- Townhomes often provide 2 to 3 bedrooms and roughly 1,100 to 2,200 plus square feet, with multi-level layouts, a private garage, and a patio or small yard.
What should I check in condo or townhome HOA documents?
- Review the operating budget, reserve study, special assessments, delinquency rate, pending litigation, master insurance summary and deductible, rental rules, and meeting minutes.
How do FHA or VA loans affect condo purchases in Old Town?
- Condo financing can depend on project approvals. If a building lacks FHA or VA approval, you may need single-unit approval or a different loan type, while fee-simple townhomes are often simpler.
What are Scottsdale’s rules for short-term rentals?
- Scottsdale requires licensing and registration, occupancy and life-safety compliance, emergency contact and neighbor notification, and applicable tax collection. HOA CC&Rs may still restrict rentals under 30 days.
How are property taxes calculated for Old Town condos and townhomes?
- Your bill combines city, county, school, and other districts. Scottsdale posts the city’s portion of the rate and levy, while the Maricopa County Assessor sets valuations using Full Cash and Limited Property Values.
