Eastlake Park, Phoenix, AZ—85008
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Eastlake Park, Phoenix, AZ
As of Oct '25, the median home price in Eastlake Park, Phoenix, AZ is $370,000, with a year-over-year change of -5.3%. This indicates that home prices in Eastlake Park, Phoenix, AZ are decreasing. According to Zillow, the 1-year price projection is -0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $370,000 | -5.3% |
| Single Family | $386,000 | -5.2% |
| Condos | $213,000 | -6.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $217,000 | -6.9% |
2 Bed | $302,000 | -5.0% |
3 Bed | $428,000 | -4.7% |
4 Bed | $521,000 | -3.5% |
| 5 Bed | $641,000 | -0.8% |
% of Housing Stock
Rental Trends — Eastlake Park, Phoenix, AZ
As of July '25, Rentcast reports the average rent in Eastlake Park, Phoenix, AZ is $1,760, with a year-over-year rent change of -7.4%. Per bedroom, the median rent as of July '25 in Eastlake Park, Phoenix, AZ is studios: $912, 1-bedrooms: $1,200, 2-bedrooms: $1,460, 3-bedrooms: $2,320, 4-bedrooms: $3,820. The most common rental property sizes in Eastlake Park, Phoenix, AZ are 2-bedroom and 1-bedroom, accounting for 41.8% and 30.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,760 |
| Studio Rent | $900 | $912 |
| 1 Bed Rent | $1,200 | $1,200 |
| 2 Bed Rent | $1,400 | $1,460 |
| 3 Bed Rent | $2,260 | $2,320 |
| 4 Bed Rent | $3,300 | $3,820 |
% of Rental Stock
Property Listings — Eastlake Park, Phoenix, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Eastlake Park, Phoenix, AZ is 75. This is a increase of 15.0% 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 48.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $424,000 | -3.0% |
Listing Count | 100 | 21.0% |
| Listings as % of Homes | 0.3% | 21.0% |
Days on Market | 75 | 15.0% |
Demographics — Eastlake Park, Phoenix, AZ
As of the latest ACS Survey released in 2023, Eastlake Park, Phoenix, AZ has a population of 60,500, which has decreased by -4.0% over the past 5 years. Eastlake Park, Phoenix, AZ is a moderately popular place for families, as children make up 23.5% of the population. The area has a poorly educated workforce, with 24.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 60,500 | -4.0% |
% Under 18 | 23.5% | -13.9% |
% Seniors | 6.3% | 10.5% |
% WFH | 12.3% | 296.8% |
% w/ College Degree | 24.2% | 33.0% |
As of the latest ACS Survey released in 2023, Eastlake Park, Phoenix, AZ is a predominantly hispanic area, with 56.9% of the population identifying as hispanic. The hispanic population has shrunk by 1.2% in the last 5 years. The second most common race or ethnicity in Eastlake Park, Phoenix, AZ is white, making up 25.9% of the population. Foreign-born residents account for 26.2% of the population in Eastlake Park, Phoenix, AZ, and this percentage has decreased by 3.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 25.9% | 3.6% |
% Black | 10.2% | -15.7% |
% Hispanic | 56.9% | -1.2% |
% Asian | 1.4% | 16.7% |
% Foreign Born | 26.2% | -3.7% |
Mortgage and Risk — Eastlake Park, Phoenix, AZ
According to HUD data as of 2023, there were 422 mortgage originations in Eastlake Park, Phoenix, AZ, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Eastlake Park, Phoenix, AZ. Investor activity is low, as 6.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 422 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 6.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Eastlake Park, Phoenix, AZ
As of 2024, the percent of homes in Eastlake Park, Phoenix, AZ under the Section 8 program is 5.3%. 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. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Eastlake Park, Phoenix, AZ, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 809 |
Total Units Section 8 | 808 |
% Rentals under Section 8 | 5.3% |
% Occupied Section 8 | 88.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $300 | $1,200 | $1,500 |
| 2 Bedroom | $340 | $1,400 | $1,740 |
| 3 Bedroom | $80 | $2,260 | $2,340 |
| 4 Bedroom | -$680 | $3,300 | $2,620 |
Affordability — Eastlake Park, Phoenix, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.2 |
| Median Home Price | $370,000 |
| Median Household Income | $61,400 |