South Mountain, Phoenix, AZ—85040
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — South Mountain, Phoenix, AZ
As of Oct '25, the median home price in South Mountain, Phoenix, AZ is $316,000, with a year-over-year change of -6.2%. This indicates that home prices in South Mountain, Phoenix, AZ are decreasing. According to Zillow, the 1-year price projection is -0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $316,000 | -6.2% |
| Single Family | $321,000 | -6.1% |
| Condos | $190,000 | -1.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $248,000 | -4.6% |
3 Bed | $335,000 | -5.4% |
4 Bed | $376,000 | -4.8% |
| 5 Bed | $432,000 | -5.3% |
% of Housing Stock
Rental Trends — South Mountain, Phoenix, AZ
As of July '25, Rentcast reports the average rent in South Mountain, Phoenix, AZ is $1,750, with a year-over-year rent change of -5.4%. Per bedroom, the median rent as of July '25 in South Mountain, Phoenix, AZ is studios: $972, 1-bedrooms: $1,250, 2-bedrooms: $1,460, 3-bedrooms: $1,930, 4-bedrooms: $2,230. The most common rental property sizes in South Mountain, Phoenix, AZ are 2-bedroom and 3-bedroom, accounting for 36.2% and 27.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,750 | $1,750 |
| Studio Rent | $749 | $972 |
| 1 Bed Rent | $1,160 | $1,250 |
| 2 Bed Rent | $1,440 | $1,460 |
| 3 Bed Rent | $1,900 | $1,930 |
| 4 Bed Rent | $2,240 | $2,230 |
% of Rental Stock
Property Listings — South Mountain, Phoenix, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in South Mountain, Phoenix, AZ is 61. This is a increase of 19.0% 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 | $344,000 | -12.0% |
Listing Count | 78 | 24.0% |
| Listings as % of Homes | 0.5% | 24.0% |
Days on Market | 61 | 19.0% |
Demographics — South Mountain, Phoenix, AZ
As of the latest ACS Survey released in 2023, South Mountain, Phoenix, AZ has a population of 33,300, which has decreased by -5.7% over the past 5 years. South Mountain, Phoenix, AZ is a popular place for families, as children make up 28.3% of the population. The area has a poorly educated workforce, with 14.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 33,300 | -5.7% |
% Under 18 | 28.3% | -11.8% |
% Seniors | 8.5% | 6.2% |
% WFH | 11.9% | 495.0% |
% w/ College Degree | 14.6% | 23.7% |
As of the latest ACS Survey released in 2023, South Mountain, Phoenix, AZ is a predominantly hispanic area, with 63.6% of the population identifying as hispanic. The hispanic population has shrunk by 0.3% in the last 5 years. The second most common race or ethnicity in South Mountain, Phoenix, AZ is black, making up 17.2% of the population. Foreign-born residents account for 22.8% of the population in South Mountain, Phoenix, AZ, and this percentage has decreased by 6.9% 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 | 13.1% | 5.6% |
% Black | 17.2% | -9.5% |
% Hispanic | 63.6% | -0.3% |
% Asian | 2.8% | 55.6% |
% Foreign Born | 22.8% | -6.9% |
Mortgage and Risk — South Mountain, Phoenix, AZ
According to HUD data as of 2023, there were 314 mortgage originations in South Mountain, Phoenix, AZ, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 44.0% above 90% LTV (very high). This implies large mortgage risk in South Mountain, Phoenix, AZ. Investor activity is low, as 6.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 314 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — South Mountain, Phoenix, AZ
As of 2024, the percent of homes in South Mountain, Phoenix, AZ under the Section 8 program is 12.2%. 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 South Mountain, 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 | 760 |
Total Units Section 8 | 691 |
% Rentals under Section 8 | 12.2% |
% Occupied Section 8 | 92.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $280 | $1,160 | $1,440 |
| 2 Bedroom | $250 | $1,440 | $1,690 |
| 3 Bedroom | $390 | $1,900 | $2,290 |
| 4 Bedroom | $370 | $2,240 | $2,610 |
Affordability — South Mountain, Phoenix, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.6 |
| Median Home Price | $316,000 |
| Median Household Income | $57,900 |