Alhambra, Phoenix, AZ—85015
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Alhambra, Phoenix, AZ
As of Oct '25, the median home price in Alhambra, Phoenix, AZ is $333,000, with a year-over-year change of -5.6%. This indicates that home prices in Alhambra, Phoenix, AZ are decreasing. According to Zillow, the 1-year price projection is -0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $333,000 | -5.6% |
| Single Family | $364,000 | -5.5% |
| Condos | $160,000 | -3.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $158,000 | -8.1% |
2 Bed | $234,000 | -7.5% |
3 Bed | $380,000 | -4.5% |
4 Bed | $429,000 | -4.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Alhambra, Phoenix, AZ
As of July '25, Rentcast reports the average rent in Alhambra, Phoenix, AZ is $1,490, with a year-over-year rent change of -3.9%. Per bedroom, the median rent as of July '25 in Alhambra, Phoenix, AZ is studios: $824, 1-bedrooms: $1,080, 2-bedrooms: $1,340, 3-bedrooms: $2,100, 4-bedrooms: $2,450. The most common rental property sizes in Alhambra, Phoenix, AZ are 2-bedroom and 1-bedroom, accounting for 42.6% and 31.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,490 |
| Studio Rent | $850 | $824 |
| 1 Bed Rent | $1,090 | $1,080 |
| 2 Bed Rent | $1,300 | $1,340 |
| 3 Bed Rent | $2,080 | $2,100 |
| 4 Bed Rent | $2,200 | $2,450 |
% of Rental Stock
Property Listings — Alhambra, Phoenix, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Alhambra, Phoenix, AZ is 56. This is a increase of 29.0% 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 41.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $388,000 | -3.0% |
Listing Count | 138 | 23.0% |
| Listings as % of Homes | 0.5% | 23.0% |
Days on Market | 56 | 29.0% |
Demographics — Alhambra, Phoenix, AZ
As of the latest ACS Survey released in 2023, Alhambra, Phoenix, AZ has a population of 42,400, which has increased by 6.5% over the past 5 years. Alhambra, Phoenix, AZ is a popular place for families, as children make up 27.4% of the population. The area has a poorly educated workforce, with 24.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 42,400 | 6.5% |
% Under 18 | 27.4% | -3.5% |
% Seniors | 9.1% | -3.2% |
% WFH | 14.2% | 305.7% |
% w/ College Degree | 24.8% | 40.9% |
As of the latest ACS Survey released in 2023, Alhambra, Phoenix, AZ is a predominantly hispanic area, with 54.4% of the population identifying as hispanic. The hispanic population has grown by 20.9% in the last 5 years. The second most common race or ethnicity in Alhambra, Phoenix, AZ is white, making up 23.5% of the population. Foreign-born residents account for 25.7% of the population in Alhambra, Phoenix, AZ, and this percentage has increased by 3.6% 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 | 23.5% | -22.7% |
% Black | 13.8% | 10.4% |
% Hispanic | 54.4% | 20.9% |
% Asian | 3.2% | -46.7% |
% Foreign Born | 25.7% | 3.6% |
Mortgage and Risk — Alhambra, Phoenix, AZ
According to HUD data as of 2023, there were 539 mortgage originations in Alhambra, Phoenix, AZ, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Alhambra, Phoenix, AZ. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 539 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Alhambra, Phoenix, AZ
As of 2024, the percent of homes in Alhambra, Phoenix, AZ under the Section 8 program is 5.4%. 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 Alhambra, 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 | 657 |
Total Units Section 8 | 589 |
% Rentals under Section 8 | 5.4% |
% Occupied Section 8 | 90.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $350 | $1,090 | $1,440 |
| 2 Bedroom | $390 | $1,300 | $1,690 |
| 3 Bedroom | $210 | $2,080 | $2,290 |
| 4 Bedroom | $410 | $2,200 | $2,610 |
Affordability — Alhambra, Phoenix, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.5 |
| Median Home Price | $333,000 |
| Median Household Income | $52,600 |