Central City, Phoenix, AZ—85004
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Central City, Phoenix, AZ
As of Oct '25, the median home price in Central City, Phoenix, AZ is $419,000, with a year-over-year change of -2.9%. This indicates that home prices in Central City, Phoenix, AZ are decreasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $419,000 | -2.9% |
| Single Family | $447,000 | -3.5% |
| Condos | $404,000 | -2.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $355,000 | -2.7% |
2 Bed | $446,000 | -3.0% |
3 Bed | $589,000 | -1.3% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Central City, Phoenix, AZ
As of July '25, Rentcast reports the average rent in Central City, Phoenix, AZ is $1,740, with a year-over-year rent change of -15.5%. Per bedroom, the median rent as of July '25 in Central City, Phoenix, AZ is studios: $1,320, 1-bedrooms: $1,620, 2-bedrooms: $2,410, 3-bedrooms: $3,120, 4-bedrooms: $1,690. The most common rental property sizes in Central City, Phoenix, AZ are 1-bedroom and 2-bedroom, accounting for 51.0% and 22.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,560 | $1,740 |
| Studio Rent | $1,320 | $1,320 |
| 1 Bed Rent | $1,500 | $1,620 |
| 2 Bed Rent | $2,250 | $2,410 |
| 3 Bed Rent | $2,500 | $3,120 |
| 4 Bed Rent | $775 | $1,690 |
% of Rental Stock
Property Listings — Central City, Phoenix, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Central City, Phoenix, AZ is 96. This is a increase of 20.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $473,000 | -15.0% |
Listing Count | 54 | 26.0% |
| Listings as % of Homes | 0.4% | 26.0% |
Days on Market | 96 | 20.0% |
Demographics — Central City, Phoenix, AZ
As of the latest ACS Survey released in 2023, Central City, Phoenix, AZ has a population of 11,200, which has increased by 70.6% over the past 5 years. Central City, Phoenix, AZ is a less popular place for families, as children make up 8.5% of the population. The area has a highly educated workforce, with 59.4% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 30.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,200 | 70.6% |
% Under 18 | 8.5% | 23.2% |
% Seniors | 6.3% | -36.4% |
% WFH | 30.1% | 140.8% |
% w/ College Degree | 59.4% | 36.6% |
As of the latest ACS Survey released in 2023, Central City, Phoenix, AZ is a predominantly white area, with 52.5% of the population identifying as white. The white population has shrunk by 9.5% in the last 5 years. The second most common race or ethnicity in Central City, Phoenix, AZ is hispanic, making up 24.9% of the population. Foreign-born residents account for 13.2% of the population in Central City, Phoenix, AZ, and this percentage has increased by 38.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 52.5% | -9.5% |
% Black | 5.6% | -13.8% |
% Hispanic | 24.9% | -8.8% |
% Asian | 5.6% | -5.1% |
% Foreign Born | 13.2% | 38.9% |
Mortgage and Risk — Central City, Phoenix, AZ
According to HUD data as of 2023, there were 41 mortgage originations in Central City, Phoenix, AZ, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Central City, Phoenix, AZ. Investor activity is low, as 2.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 41 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Central City, Phoenix, AZ
As of 2024, the percent of homes in Central City, Phoenix, AZ under the Section 8 program is 7.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Central City, Phoenix, AZ, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 300 |
Total Units Section 8 | 300 |
% Rentals under Section 8 | 7.3% |
% Occupied Section 8 | 94.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $450 | $1,500 | $1,950 |
| 2 Bedroom | $20 | $2,250 | $2,270 |
| 3 Bedroom | $550 | $2,500 | $3,050 |
| 4 Bedroom | $2,645 | $775 | $3,420 |
Affordability — Central City, Phoenix, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.1 |
| Median Home Price | $419,000 |
| Median Household Income | $71,200 |