North Mountain Village, Phoenix, AZ—85022
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — North Mountain Village, Phoenix, AZ
As of Oct '25, the median home price in North Mountain Village, Phoenix, AZ is $459,000, with a year-over-year change of -4.3%. This indicates that home prices in North Mountain Village, Phoenix, AZ are decreasing. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $459,000 | -4.3% |
| Single Family | $479,000 | -4.0% |
| Condos | $265,000 | -4.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $203,000 | -8.1% |
2 Bed | $298,000 | -6.3% |
3 Bed | $455,000 | -4.4% |
4 Bed | $631,000 | -2.3% |
| 5 Bed | $852,000 | -0.9% |
% of Housing Stock
Rental Trends — North Mountain Village, Phoenix, AZ
As of July '25, Rentcast reports the average rent in North Mountain Village, Phoenix, AZ is $2,130, with a year-over-year rent change of 18.3%. Per bedroom, the median rent as of July '25 in North Mountain Village, Phoenix, AZ is studios: $1,100, 1-bedrooms: $1,250, 2-bedrooms: $1,660, 3-bedrooms: $2,300, 4-bedrooms: $3,500. The most common rental property sizes in North Mountain Village, Phoenix, AZ are 2-bedroom and 1-bedroom, accounting for 43.9% and 34.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,950 | $2,130 |
| Studio Rent | $937 | $1,100 |
| 1 Bed Rent | $1,280 | $1,250 |
| 2 Bed Rent | $1,700 | $1,660 |
| 3 Bed Rent | $2,300 | $2,300 |
| 4 Bed Rent | $3,000 | $3,500 |
% of Rental Stock
Property Listings — North Mountain Village, Phoenix, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in North Mountain Village, Phoenix, AZ is 58. This is a increase of 17.0% 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 43.0%, 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 | 1.0% |
Listing Count | 166 | 6.0% |
| Listings as % of Homes | 0.6% | 6.0% |
Days on Market | 58 | 17.0% |
Demographics — North Mountain Village, Phoenix, AZ
As of the latest ACS Survey released in 2023, North Mountain Village, Phoenix, AZ has a population of 52,500, which has increased by 2.1% over the past 5 years. North Mountain Village, Phoenix, AZ is a moderately popular place for families, as children make up 19.0% of the population. The area has a moderately educated workforce, with 35.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 52,500 | 2.1% |
% Under 18 | 19.0% | 2.7% |
% Seniors | 15.6% | -0.6% |
% WFH | 21.0% | 262.1% |
% w/ College Degree | 35.8% | 8.8% |
As of the latest ACS Survey released in 2023, North Mountain Village, Phoenix, AZ is a predominantly white area, with 59.5% of the population identifying as white. The white population has shrunk by 9.6% in the last 5 years. The second most common race or ethnicity in North Mountain Village, Phoenix, AZ is hispanic, making up 22.0% of the population. Foreign-born residents account for 14.3% of the population in North Mountain Village, Phoenix, AZ, and this percentage has increased by 10.9% 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 | 59.5% | -9.6% |
% Black | 9.8% | 133.3% |
% Hispanic | 22.0% | -2.7% |
% Asian | 3.2% | -27.3% |
% Foreign Born | 14.3% | 10.9% |
Mortgage and Risk — North Mountain Village, Phoenix, AZ
According to HUD data as of 2023, there were 821 mortgage originations in North Mountain Village, Phoenix, AZ, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in North Mountain Village, 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 | 821 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — North Mountain Village, Phoenix, AZ
As of 2024, the percent of homes in North Mountain Village, Phoenix, AZ under the Section 8 program is 1.2%. 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 North Mountain Village, 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 | 170 |
Total Units Section 8 | 157 |
% Rentals under Section 8 | 1.2% |
% Occupied Section 8 | 92.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $530 | $1,280 | $1,810 |
| 2 Bedroom | $400 | $1,700 | $2,100 |
| 3 Bedroom | $530 | $2,300 | $2,830 |
| 4 Bedroom | $160 | $3,000 | $3,160 |
Affordability — North Mountain Village, Phoenix, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.9 |
| Median Home Price | $459,000 |
| Median Household Income | $66,600 |