Northwest Phoenix, Phoenix, AZ—85053
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Northwest Phoenix, Phoenix, AZ
As of Oct '25, the median home price in Northwest Phoenix, Phoenix, AZ is $375,000, with a year-over-year change of -5.0%. This indicates that home prices in Northwest Phoenix, 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 | $375,000 | -5.0% |
| Single Family | $377,000 | -5.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $285,000 | -5.9% |
3 Bed | $379,000 | -4.3% |
4 Bed | $428,000 | -4.3% |
| 5 Bed | $502,000 | -4.4% |
% of Housing Stock
Rental Trends — Northwest Phoenix, Phoenix, AZ
As of July '25, Rentcast reports the average rent in Northwest Phoenix, Phoenix, AZ is $1,680, with a year-over-year rent change of -10.6%. Per bedroom, the median rent as of July '25 in Northwest Phoenix, Phoenix, AZ is studios: $885, 1-bedrooms: $1,120, 2-bedrooms: $1,620, 3-bedrooms: $2,100, 4-bedrooms: $2,240. The most common rental property sizes in Northwest Phoenix, Phoenix, AZ are 2-bedroom and 1-bedroom, accounting for 48.9% and 27.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,680 |
| Studio Rent | $799 | $885 |
| 1 Bed Rent | $1,100 | $1,120 |
| 2 Bed Rent | $1,500 | $1,620 |
| 3 Bed Rent | $2,000 | $2,100 |
| 4 Bed Rent | $2,150 | $2,240 |
% of Rental Stock
Property Listings — Northwest Phoenix, Phoenix, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Northwest Phoenix, Phoenix, AZ is 51. This is a increase of 20.0% 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 37.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $411,000 | -2.0% |
Listing Count | 92 | 7.0% |
| Listings as % of Homes | 0.5% | 7.0% |
Days on Market | 51 | 20.0% |
Demographics — Northwest Phoenix, Phoenix, AZ
As of the latest ACS Survey released in 2023, Northwest Phoenix, Phoenix, AZ has a population of 29,700, which has remained stable by -0.9% over the past 5 years. Northwest Phoenix, Phoenix, AZ is a moderately popular place for families, as children make up 22.6% of the population. The area has a moderately educated workforce, with 25.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,700 | -0.9% |
% Under 18 | 22.6% | 6.6% |
% Seniors | 12.4% | 3.3% |
% WFH | 14.0% | 259.0% |
% w/ College Degree | 25.9% | 21.6% |
As of the latest ACS Survey released in 2023, Northwest Phoenix, Phoenix, AZ is a predominantly white area, with 58.2% of the population identifying as white. The white population has shrunk by 11.4% in the last 5 years. The second most common race or ethnicity in Northwest Phoenix, Phoenix, AZ is hispanic, making up 28.1% of the population. Foreign-born residents account for 12.3% of the population in Northwest Phoenix, Phoenix, AZ, and this percentage has decreased by 3.9% 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 | 58.2% | -11.4% |
% Black | 5.1% | 34.2% |
% Hispanic | 28.1% | 22.2% |
% Asian | 3.5% | 12.9% |
% Foreign Born | 12.3% | -3.9% |
Mortgage and Risk — Northwest Phoenix, Phoenix, AZ
According to HUD data as of 2023, there were 389 mortgage originations in Northwest Phoenix, Phoenix, AZ, of which 67.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Northwest Phoenix, Phoenix, AZ. Investor activity is low, as 1.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 389 |
% Conventional Loans | 67.0% |
% Government Loans | 33.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 19.0% |
Loan Activity
Rentals and Section 8 — Northwest Phoenix, Phoenix, AZ
As of 2024, the percent of homes in Northwest Phoenix, Phoenix, AZ under the Section 8 program is 2.6%. 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 Northwest Phoenix, 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 | 107 |
Total Units Section 8 | 95 |
% Rentals under Section 8 | 2.6% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $340 | $1,100 | $1,440 |
| 2 Bedroom | $190 | $1,500 | $1,690 |
| 3 Bedroom | $290 | $2,000 | $2,290 |
| 4 Bedroom | $460 | $2,150 | $2,610 |
Affordability — Northwest Phoenix, Phoenix, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.8 |
| Median Home Price | $375,000 |
| Median Household Income | $66,900 |