Central City South, Phoenix, AZ—85034
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Central City South, Phoenix, AZ
As of Oct '25, the median home price in Central City South, Phoenix, AZ is $257,000, with a year-over-year change of -5.4%. This indicates that home prices in Central City South, 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 | $257,000 | -5.4% |
| Single Family | $247,000 | -5.7% |
| Condos | $323,000 | -1.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $327,000 | -3.5% |
3 Bed | $334,000 | -3.7% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Central City South, Phoenix, AZ
As of July '25, Rentcast reports the average rent in Central City South, Phoenix, AZ is $1,700, with a year-over-year rent change of -5.0%. Per bedroom, the median rent as of July '25 in Central City South, Phoenix, AZ is studios: $1,220, 1-bedrooms: $1,230, 2-bedrooms: $1,910, 3-bedrooms: $2,080, 4-bedrooms: $2,610. The most common rental property sizes in Central City South, Phoenix, AZ are 2-bedroom and 1-bedroom, accounting for 39.5% and 35.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,700 |
| Studio Rent | $1,250 | $1,220 |
| 1 Bed Rent | $1,300 | $1,230 |
| 2 Bed Rent | $1,850 | $1,910 |
| 3 Bed Rent | $2,150 | $2,080 |
| 4 Bed Rent | $2,500 | $2,610 |
% of Rental Stock
Property Listings — Central City South, Phoenix, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Central City South, Phoenix, AZ is 193. This is a increase of 116.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $398,000 | -17.0% |
Listing Count | 9 | 0.0% |
| Listings as % of Homes | 0.1% | 0.0% |
Days on Market | 193 | 116.0% |
Demographics — Central City South, Phoenix, AZ
As of the latest ACS Survey released in 2023, Central City South, Phoenix, AZ has a population of 4,820, which has increased by 1.1% over the past 5 years. Central City South, Phoenix, AZ is a moderately popular place for families, as children make up 17.6% of the population. The area has a moderately educated workforce, with 31.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,820 | 1.1% |
% Under 18 | 17.6% | -38.9% |
% Seniors | 6.8% | -13.9% |
% WFH | 12.8% | 113.3% |
% w/ College Degree | 31.7% | 64.2% |
As of the latest ACS Survey released in 2023, Central City South, Phoenix, AZ is a predominantly hispanic area, with 54.3% of the population identifying as hispanic. The hispanic population has shrunk by 20.1% in the last 5 years. The second most common race or ethnicity in Central City South, Phoenix, AZ is white, making up 30.9% of the population. Foreign-born residents account for 17.9% of the population in Central City South, Phoenix, AZ, and this percentage has decreased by 26.3% 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 | 30.9% | 89.6% |
% Black | 7.6% | -25.5% |
% Hispanic | 54.3% | -20.1% |
% Asian | 2.6% | 85.7% |
% Foreign Born | 17.9% | -26.3% |
Mortgage and Risk — Central City South, Phoenix, AZ
According to HUD data as of 2023, there were 21 mortgage originations in Central City South, Phoenix, AZ, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Central City South, Phoenix, AZ. Investor activity is low, as 14.0% of loans were by investors. 29.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 21 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 14.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 29.0% |
Loan Activity
Rentals and Section 8 — Central City South, Phoenix, AZ
As of 2024, the percent of homes in Central City South, Phoenix, AZ under the Section 8 program is 14.5%. 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 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Central City South, Phoenix, AZ, because HUD payments exceed market rent, while 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 277 |
Total Units Section 8 | 277 |
% Rentals under Section 8 | 14.5% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $180 | $1,300 | $1,480 |
| 2 Bedroom | -$130 | $1,850 | $1,720 |
| 3 Bedroom | $160 | $2,150 | $2,310 |
| 4 Bedroom | $110 | $2,500 | $2,610 |
Affordability — Central City South, Phoenix, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $257,000 |
| Median Household Income | $53,500 |