South Mountain Village, Phoenix, AZ—85042
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — South Mountain Village, Phoenix, AZ
As of Oct '25, the median home price in South Mountain Village, Phoenix, AZ is $382,000, with a year-over-year change of -5.7%. This indicates that home prices in South 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 | $382,000 | -5.7% |
| Single Family | $385,000 | -5.9% |
| Condos | $278,000 | -3.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $288,000 | -5.6% |
3 Bed | $389,000 | -5.1% |
4 Bed | $452,000 | -4.8% |
| 5 Bed | $553,000 | -4.7% |
% of Housing Stock
Rental Trends — South Mountain Village, Phoenix, AZ
As of July '25, Rentcast reports the average rent in South Mountain Village, Phoenix, AZ is $2,350, with a year-over-year rent change of 4.0%. Per bedroom, the median rent as of July '25 in South Mountain Village, Phoenix, AZ is studios: $953, 1-bedrooms: $1,240, 2-bedrooms: $1,770, 3-bedrooms: $2,530, 4-bedrooms: $2,900. The most common rental property sizes in South Mountain Village, Phoenix, AZ are 3-bedroom and 2-bedroom, accounting for 40.5% and 28.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,350 |
| Studio Rent | $980 | $953 |
| 1 Bed Rent | $1,260 | $1,240 |
| 2 Bed Rent | $1,700 | $1,770 |
| 3 Bed Rent | $2,300 | $2,530 |
| 4 Bed Rent | $2,650 | $2,900 |
% of Rental Stock
Property Listings — South Mountain Village, Phoenix, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in South Mountain Village, Phoenix, AZ is 73. This is a increase of 52.0% 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 45.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $468,000 | -4.0% |
Listing Count | 159 | 70.0% |
| Listings as % of Homes | 0.8% | 70.0% |
Days on Market | 73 | 52.0% |
Demographics — South Mountain Village, Phoenix, AZ
As of the latest ACS Survey released in 2023, South Mountain Village, Phoenix, AZ has a population of 45,600, which has decreased by -2.1% over the past 5 years. South Mountain Village, Phoenix, AZ is a moderately popular place for families, as children make up 24.1% 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 19.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 45,600 | -2.1% |
% Under 18 | 24.1% | -11.4% |
% Seniors | 10.5% | 7.1% |
% WFH | 19.9% | 452.8% |
% w/ College Degree | 31.7% | 51.7% |
As of the latest ACS Survey released in 2023, South Mountain Village, Phoenix, AZ is a predominantly hispanic area, with 50.4% of the population identifying as hispanic. The hispanic population has shrunk by 8.2% in the last 5 years. The second most common race or ethnicity in South Mountain Village, Phoenix, AZ is white, making up 25.3% of the population. Foreign-born residents account for 17.0% of the population in South Mountain Village, Phoenix, AZ, and this percentage has decreased by 12.4% 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 | 25.3% | 14.0% |
% Black | 14.2% | -7.8% |
% Hispanic | 50.4% | -8.2% |
% Asian | 4.0% | 53.8% |
% Foreign Born | 17.0% | -12.4% |
Mortgage and Risk — South Mountain Village, Phoenix, AZ
According to HUD data as of 2023, there were 522 mortgage originations in South Mountain Village, Phoenix, AZ, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in South Mountain Village, Phoenix, AZ. Investor activity is low, as 2.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 522 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — South Mountain Village, Phoenix, AZ
As of 2024, the percent of homes in South Mountain Village, Phoenix, AZ under the Section 8 program is 3.1%. 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 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 | 255 |
Total Units Section 8 | 193 |
% Rentals under Section 8 | 3.1% |
% Occupied Section 8 | 95.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $380 | $1,260 | $1,640 |
| 2 Bedroom | $200 | $1,700 | $1,900 |
| 3 Bedroom | $260 | $2,300 | $2,560 |
| 4 Bedroom | $210 | $2,650 | $2,860 |
Affordability — South Mountain Village, Phoenix, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $382,000 |
| Median Household Income | $86,800 |