Phoenix, Arizona.
Typical home $404,067 (-1.2% in a year), asking rent $1,571 (+1.0%). Phoenix-Mesa-Chandler, AZ metro.
to buy the typical home at today's mortgage rate — +$1,131 (+114%) since Jan 2020.
- 1 year
- Down $4,900 -1%
- $408,967$404,067 since Sep 2025
- 5 years
- Up $22,093 +6%
- $381,974$404,067 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Phoenix$2,121
- Arizona$2,187
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 62 years.
Typical home values in Phoenix, AZ fell 1.2% over the past year — slower than the nation's +1.2%.
Asking rents in Phoenix, AZ rose 1.0% over the past year — slower than the nation's +2.7%.
Owning the typical home in Phoenix runs $1,129/mo more than renting one. The gap peaked at $1,350 in May 2024.
That is $2,701 a month against $1,571 rent: a $2,121 mortgage payment, plus $147 property tax and $433 insurance & upkeep.
Owning vs renting — Phoenix
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$2,701
- Renting$1,571
- Mortgage only$2,121
Property tax · $147/mo 0.44% of value a year — the ACS 2020-2024 median bill over the median home value for Maricopa County, AZ
Insurance & upkeep · $433/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Phoenix, Maricopa County, Arizona
Phoenix is a city of 1,608,139 people in Maricopa County. Half its households earn more than $81,332 a year and half less, against $89,300 across Maricopa County; 14% of its people live below the poverty line. 57% of its homes are lived in by their owners and 43% are rented. Unemployment in Phoenix was 4.7% in August 2026, and Maricopa County had 0.4% more jobs in 2025 than the year before. The most residents work in schools and health care, then professional services.
Written by AI Claude Sonnet 5.5 wrote this on 24 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Phoenix is the largest city in Arizona and a very large one by any measure, with a population younger than much of the country. Incomes run below the county's, and more homes are rented than across Maricopa County as a whole, though most are still lived in by their owners. Summers are extremely hot and winters are mild, with very little rain and almost no snow.
Work. Residents work mostly in schools, hospitals and social care, followed by professional and business services, shops, and banks, insurance and property. Among the largest workplaces in the city are Mayo Clinic Hospital, Phoenix Children's Hospital and Grand Canyon University. A fair number of people work from home, and the typical commute is a medium one.
Things to do. The Heard Museum and the Phoenix Art Museum are both a short drive away, and Chase Field, a stadium, is close by as well. For a longer outing, the Desert Botanical Garden is a longer drive away, and Castles N' Coasters, an amusement park, is in or beside town.
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- 610,442households
- 34%of adults have a degree
- 14%below the poverty line
- 26 mintypical commute
- 19%work from home
What residents work in
Employed residents by industry, from the Census survey. Maricopa County had 2,289,324 jobs in 2025, 0.4% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in December, with highs near 64° and lows near 43°; warmest in July, with highs near 104° and lows near 81°. About 9 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Phoenix Deer Valley Municipal Airport weather station, 8 miles away (NOAA).
Largest workplaces in Phoenix
- City of PhoenixPolice and fire departments, combined15,698
- Educational ServicesEducational support services8,425
- Mayo Clinic HospitalGeneral hospital7,876FTE
- Grand Canyon UniversityUniversity or college7,773
- Phoenix Children's HospitalChildren's hospital5,836FTE
- University of Phoenix-ArizonaUniversity or college5,375
- Southwest AirlinesScheduled passenger air transportation4,951
- American Airlines Group AA-PHX-PHOENIXScheduled air transportation4,853
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 1,420 workplaces with 20 or more staff, 287,536 people in all. Hospitals come from their Medicare cost reports (CMS, 2023) and colleges from IPEDS (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Heat wavesVery high
- Inland floodingrelatively high in parts of PhoenixRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Phoenix’s census tracts, against the rest of the country; all of them together, relatively moderate. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Maricopa County and the Phoenix-Mesa-Chandler, AZ metro.
Phoenix home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Phoenix$404,067
- Arizona$416,733
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 3 Phoenix listings, and the typical home goes pending in 34 days — the market is roughly in balance.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Phoenix33.92%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Phoenix34
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Phoenix5,372
New listings per month
Sellers arriving at the market.
- Phoenix1,424
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Phoenix$411,285
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Phoenix97.99%
Zip codes with a Phoenix address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Phoenix — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.
Zip codes in Phoenix
| Zip activate to sort by Zip | Place activate to sort by Place | Population sorted descending, activate to sort ascending | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|
| 85032 | Phoenix | 70,839 | $1,597 | $449,147 |
| 85041 | Phoenix | 63,862 | $2,178 | $366,153 |
| 85008 | Phoenix | 59,716 | $1,404 | $368,196 |
| 85033 | Phoenix | 57,591 | $1,316 | $321,755 |
| 85339 | Laveen | 54,641 | $2,109 | $437,764 |
| 85037 | Phoenix | 54,608 | $1,723 | $350,682 |
| 85022 | Phoenix | 53,811 | $1,421 | $461,344 |
| 85035 | Phoenix | 53,424 | $1,322 | $316,864 |
| 85009 | Phoenix | 52,064 | $1,356 | $274,334 |
| 85029 | Phoenix | 49,683 | $1,255 | $352,468 |
| 85017 | Phoenix | 46,129 | $1,153 | $296,535 |
| 85042 | Phoenix | 45,903 | $1,647 | $382,222 |
| 85051 | Phoenix | 45,768 | $1,265 | $340,384 |
| 85015 | Phoenix | 41,490 | $1,220 | $331,755 |
| 85043 | Phoenix | 41,331 | $1,935 | $363,845 |
| 85021 | Phoenix | 39,828 | $1,197 | $428,878 |
| 85027 | Phoenix | 39,487 | $1,494 | $376,395 |
| 85044 | Phoenix | 39,347 | $1,554 | $473,281 |
| 85018 | Phoenix | 37,297 | $1,648 | $980,525 |
| 85016 | Phoenix | 37,074 | $1,668 | $516,550 |
| 85023 | Phoenix | 35,034 | $1,193 | $414,907 |
| 85020 | Phoenix | 34,916 | $1,472 | $400,506 |
| 85048 | Phoenix | 34,664 | $1,831 | $576,337 |
| 85040 | Phoenix | 34,117 | $1,857 | $317,936 |
| 85050 | Phoenix | 33,118 | $2,492 | $618,493 |
| 85085 | Phoenix | 31,458 | $1,835 | $633,350 |
| 85031 | Phoenix | 31,191 | $1,107 | $320,556 |
| 85053 | Phoenix | 29,773 | $1,277 | $375,938 |
| 85019 | Phoenix | 27,429 | $1,285 | $321,890 |
| 85024 | Phoenix | 26,199 | $1,744 | $482,310 |
| 85014 | Phoenix | 25,911 | $1,461 | $439,608 |
| 85013 | Phoenix | 22,490 | $1,582 | $480,346 |
| 85006 | Phoenix | 21,905 | $1,499 | $402,532 |
| 85083 | Phoenix | 21,022 | $2,681 | $624,224 |
| 85310 | Glendale | 19,964 | $2,320 | $538,817 |
| 85028 | Phoenix | 18,752 | $3,174 | $705,739 |
| 85007 | Phoenix | 13,575 | $1,375 | $400,315 |
| 85004 | Phoenix | 12,408 | $1,776 | $415,431 |
| 85003 | Phoenix | 10,875 | $1,757 | $575,316 |
| 85054 | Phoenix | 10,346 | $1,868 | $715,697 |
| 85012 | Phoenix | 8,704 | $1,535 | $641,838 |
| 85045 | Phoenix | 7,600 | $2,724 | $658,163 |
| 85034 | Phoenix | 4,854 | $1,440 | $280,495 |