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Phoenix city, AZ

ZIP 85008 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLarge CommunityLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 85008

Median Home Value
$323,600
Median Rent
$1,157
Affordability Snapshot
$89,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,079/mo PITI).

23%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

5.3x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

23.3 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 85008 in Phoenix city, AZ, a household would need roughly $89,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $2,079. That is about 45% above the local median household income ($61,369), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Diverse housing tenure.

Heating Fuel
Housing Metrics
Owner Occupied
30.8%-53% vs US avg
x
Vacancy Rate
7.0%-32% vs US avg
x
Broadband Access
89.3%+3% vs US avg
x
4+ Bedrooms
0.7%-95% vs US avg
x
Built Pre-1939
5.8%-55% vs US avg
x
Built Post-2014
0.8%-89% vs US avg
x
Rent Burden >30%
15.8%-68% vs US avg
x
Mortgage-Free
38.3%+0% vs US avg
x
$323,600
Home Value
$1,157
Rent
1978
Year Built
2018
Moved In

Residents have lived here since ~2018 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached34.1%
  • 1-unit attached3.6%
  • 2-9 units21.4%
  • 10+ units35.2%
  • Mobile home & other5.7%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$323,600
Median rent$1,157
Owner-occupied30.8%
Vacant7.0%
Price-to-income5.3x
Est. income to buy$89,000