Biltmore Area, Phoenix, AZ—85016
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Biltmore Area, Phoenix, AZ
As of Oct '25, the median home price in Biltmore Area, Phoenix, AZ is $515,000, with a year-over-year change of -3.7%. This indicates that home prices in Biltmore Area, 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 | $515,000 | -3.7% |
| Single Family | $589,000 | -3.1% |
| Condos | $317,000 | -5.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $245,000 | -9.3% |
2 Bed | $384,000 | -5.2% |
3 Bed | $596,000 | -3.4% |
4 Bed | $882,000 | -1.0% |
| 5 Bed | $1,653,000 | 0.8% |
% of Housing Stock
Rental Trends — Biltmore Area, Phoenix, AZ
As of July '25, Rentcast reports the average rent in Biltmore Area, Phoenix, AZ is $2,450, with a year-over-year rent change of -0.8%. Per bedroom, the median rent as of July '25 in Biltmore Area, Phoenix, AZ is studios: $1,130, 1-bedrooms: $1,580, 2-bedrooms: $2,510, 3-bedrooms: $3,450, 4-bedrooms: $3,850. The most common rental property sizes in Biltmore Area, Phoenix, AZ are 2-bedroom and 1-bedroom, accounting for 40.9% and 36.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,920 | $2,450 |
| Studio Rent | $1,100 | $1,130 |
| 1 Bed Rent | $1,500 | $1,580 |
| 2 Bed Rent | $2,000 | $2,510 |
| 3 Bed Rent | $2,900 | $3,450 |
| 4 Bed Rent | $3,400 | $3,850 |
% of Rental Stock
Property Listings — Biltmore Area, Phoenix, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Biltmore Area, Phoenix, AZ is 58. This is a increase of 13.0% 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 55.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $564,000 | -9.0% |
Listing Count | 247 | 43.0% |
| Listings as % of Homes | 0.8% | 43.0% |
Days on Market | 58 | 13.0% |
Demographics — Biltmore Area, Phoenix, AZ
As of the latest ACS Survey released in 2023, Biltmore Area, Phoenix, AZ has a population of 36,900, which has increased by 4.8% over the past 5 years. Biltmore Area, Phoenix, AZ is a less popular place for families, as children make up 13.2% of the population. The area has a highly educated workforce, with 49.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,900 | 4.8% |
% Under 18 | 13.2% | -26.3% |
% Seniors | 15.4% | 5.5% |
% WFH | 22.8% | 240.3% |
% w/ College Degree | 49.8% | 14.5% |
As of the latest ACS Survey released in 2023, Biltmore Area, Phoenix, AZ is a predominantly white area, with 58.3% of the population identifying as white. The white population has grown by 0.2% in the last 5 years. The second most common race or ethnicity in Biltmore Area, Phoenix, AZ is hispanic, making up 28.9% of the population. Foreign-born residents account for 13.3% of the population in Biltmore Area, Phoenix, AZ, and this percentage has increased by 10.8% 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 | 58.3% | 0.2% |
% Black | 3.5% | -16.7% |
% Hispanic | 28.9% | -5.6% |
% Asian | 4.9% | 104.2% |
% Foreign Born | 13.3% | 10.8% |
Mortgage and Risk — Biltmore Area, Phoenix, AZ
According to HUD data as of 2023, there were 598 mortgage originations in Biltmore Area, Phoenix, AZ, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Biltmore Area, Phoenix, AZ. Investor activity is low, as 5.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 598 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 5.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Biltmore Area, Phoenix, AZ
As of 2024, the percent of homes in Biltmore Area, Phoenix, AZ under the Section 8 program is 1.4%. 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. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Biltmore Area, Phoenix, AZ, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 198 |
Total Units Section 8 | 189 |
% Rentals under Section 8 | 1.4% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $400 | $1,500 | $1,900 |
| 2 Bedroom | $210 | $2,000 | $2,210 |
| 3 Bedroom | $70 | $2,900 | $2,970 |
| 4 Bedroom | -$70 | $3,400 | $3,330 |
Affordability — Biltmore Area, Phoenix, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.1 |
| Median Home Price | $515,000 |
| Median Household Income | $85,100 |