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 −0.5% YoY) or rent growth lifting rent-to-price toward 0.8%/mo would move this ZIP toward a cash-flow story. inventory, +3.8% YoY, is the number to watch.
The median listing price is down 0.5% YoY while the median home got down 3.5% bigger, so value per square foot is down 0.9%.
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 $570K purchase rents for $2,100/mo: 0.37% of price per month against the 1% rule's 1.00%.
Not shown: 7 BR (sale only, no matching rent), 8 BR (sale only, no matching rent).
Sales here take about 7 days longer to go under contract than rentals (median across 3 property types).
Not shown: Apartment (rented here, not sold), Land (sold here, not rented).
U.S. Census ACS characteristics for ZIP 85234 itself, not its parent county.
Renters hold 24.4% of this ZIP's 17,626 occupied households, on a median household income of $121K.
| Measure | ZIP 85234 | Maricopa County | Difference |
|---|---|---|---|
| Median Household Income | $121K | $89K | +$32K |
| Below Poverty Level | 6.1% | 11.0% | -4.9% |
| Median Age | 36.10 | 37.60 | -1.50 |
| Total Population | 51,283 | 4,559,748 | -- |
| Avg Household Size | 2.90 | 2.59 | +0.31 |
| Owner-Occupied | 75.6% | 65.2% | +10.4% |
| Worked From Home | 24.9% | 20.8% | +4.1% |
| Mean Commute | 23.10 | 26.00 | -2.90 |
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.