dynamic.RE
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An appreciation-lean market without the demand pressure to back it. The rent math runs thin.
What would change this read: a price correction (median already −6.9% YoY) or rent growth lifting rent-to-price toward 0.8%/mo would move this ZIP toward a cash-flow story. inventory, −10.6% YoY, is the number to watch.
The median listing price is down 6.9% YoY while the median home got down 8.3% bigger, so value per square foot is down 13.8%.
Min/max come from the active-listing pool; the median comes from Realtor's separate listing set — the two are not subsets of each other, so the median's position relative to the tiles above should not be read literally.
At the median, a $325K purchase rents for $1,204/mo: 0.37% of price per month against the 1% rule's 1.00%.
Not shown: Studio (rent only, no matching sale price), 5 BR (sale only, no matching rent), 7 BR (sale only, no matching rent).
Rentals here take about 26 days longer to find a tenant than sales take to go under contract (median across 3 property types).
Not shown: Apartment (rented here, not sold), Condo (sold here, not rented).
U.S. Census ACS characteristics for ZIP 85031 itself, not its parent county.
Renters hold 33.9% of this ZIP's 8,132 occupied households, on a median household income of $70K.
| Measure | ZIP 85031 | Maricopa County | Difference |
|---|---|---|---|
| Median Household Income | $70K | $89K | -$19K |
| Below Poverty Level | 17.0% | 11.0% | +6.0% |
| Median Age | 29.60 | 37.60 | -8.00 |
| Total Population | 31,191 | 4,559,748 | -- |
| Avg Household Size | 3.83 | 2.59 | +1.24 |
| Owner-Occupied | 66.1% | 65.2% | +1.0% |
| Worked From Home | 6.0% | 20.8% | -14.8% |
| Mean Commute | 30.20 | 26.00 | +4.20 |
Higher or lower is not itself good or bad — it describes the neighborhood, not the investment.
ZIP-level figures come from ZIP Code Tabulation Areas, which approximate but do not exactly match USPS ZIP codes. A missing value is suppressed or unavailable at this sample size, not zero. Estimates for 2019–2020 use the 2010 ZCTA boundaries and 2021–2024 the 2020 ones, so a step between those two years may be a boundary change rather than real movement.
County population is up 1.5% to 4,559,748: residents under 18 are down 0.1% and those 65 and over are up 3.4%.
County median household income is $89K, 11.0% of residents are below the poverty level, 20.8% work from home.