Desert Ridge, Phoenix, AZ—85024
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Desert Ridge, Phoenix, AZ
As of Oct '25, the median home price in Desert Ridge, Phoenix, AZ is $483,000, with a year-over-year change of -4.1%. This indicates that home prices in Desert Ridge, 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 | $483,000 | -4.1% |
| Single Family | $497,000 | -3.7% |
| Condos | $326,000 | 5.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $351,000 | -4.4% |
3 Bed | $452,000 | -4.2% |
4 Bed | $620,000 | -2.5% |
| 5 Bed | $773,000 | -1.4% |
% of Housing Stock
Rental Trends — Desert Ridge, Phoenix, AZ
As of July '25, Rentcast reports the average rent in Desert Ridge, Phoenix, AZ is $2,580, with a year-over-year rent change of -1.5%. Per bedroom, the median rent as of July '25 in Desert Ridge, Phoenix, AZ is studios: $1,020, 1-bedrooms: $1,330, 2-bedrooms: $2,140, 3-bedrooms: $2,500, 4-bedrooms: $3,340. The most common rental property sizes in Desert Ridge, Phoenix, AZ are 2-bedroom and 3-bedroom, accounting for 41.1% and 20.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,580 |
| Studio Rent | $981 | $1,020 |
| 1 Bed Rent | $1,350 | $1,330 |
| 2 Bed Rent | $2,000 | $2,140 |
| 3 Bed Rent | $2,300 | $2,500 |
| 4 Bed Rent | $3,100 | $3,340 |
% of Rental Stock
Property Listings — Desert Ridge, Phoenix, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Desert Ridge, Phoenix, AZ is 58. This is a increase of 27.0% 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 40.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $513,000 | -6.0% |
Listing Count | 104 | 7.0% |
| Listings as % of Homes | 0.7% | 7.0% |
Days on Market | 58 | 27.0% |
Demographics — Desert Ridge, Phoenix, AZ
As of the latest ACS Survey released in 2023, Desert Ridge, Phoenix, AZ has a population of 25,700, which has increased by 4.0% over the past 5 years. Desert Ridge, Phoenix, AZ is a moderately popular place for families, as children make up 23.6% of the population. The area has a highly educated workforce, with 45.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,700 | 4.0% |
% Under 18 | 23.6% | 0.4% |
% Seniors | 10.7% | 11.5% |
% WFH | 21.2% | 194.4% |
% w/ College Degree | 45.4% | 5.6% |
As of the latest ACS Survey released in 2023, Desert Ridge, Phoenix, AZ is a predominantly white area, with 71.5% of the population identifying as white. The white population has shrunk by 5.9% in the last 5 years. The second most common race or ethnicity in Desert Ridge, Phoenix, AZ is hispanic, making up 16.4% of the population. Foreign-born residents account for 12.4% of the population in Desert Ridge, Phoenix, AZ, and this percentage has increased by 18.1% 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 | 71.5% | -5.9% |
% Black | 2.3% | -8.0% |
% Hispanic | 16.4% | 22.4% |
% Asian | 6.2% | 37.8% |
% Foreign Born | 12.4% | 18.1% |
Mortgage and Risk — Desert Ridge, Phoenix, AZ
According to HUD data as of 2023, there were 468 mortgage originations in Desert Ridge, Phoenix, AZ, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Desert Ridge, Phoenix, AZ. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 468 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Desert Ridge, Phoenix, AZ
As of 2024, the percent of homes in Desert Ridge, Phoenix, AZ under the Section 8 program is 0.8%. 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 Desert Ridge, 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 | 41 |
Total Units Section 8 | 38 |
% Rentals under Section 8 | 0.8% |
% Occupied Section 8 | 92.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $600 | $1,350 | $1,950 |
| 2 Bedroom | $260 | $2,000 | $2,260 |
| 3 Bedroom | $740 | $2,300 | $3,040 |
| 4 Bedroom | $300 | $3,100 | $3,400 |
Affordability — Desert Ridge, Phoenix, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $483,000 |
| Median Household Income | $97,800 |