Garfield, Phoenix, AZ—85006
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Garfield, Phoenix, AZ
As of Nov '25, the median home price in Garfield, Phoenix, AZ is $403,000, with a year-over-year change of -5.5%. This indicates that home prices in Garfield, 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 | $403,000 | -5.5% |
| Single Family | $406,000 | -5.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $292,000 | -21.5% |
2 Bed | $399,000 | -4.8% |
3 Bed | $471,000 | -4.3% |
4 Bed | $536,000 | -2.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Garfield, Phoenix, AZ
As of July '25, Rentcast reports the average rent in Garfield, Phoenix, AZ is $1,750, with a year-over-year rent change of -10.3%. Per bedroom, the median rent as of July '25 in Garfield, Phoenix, AZ is studios: $1,120, 1-bedrooms: $1,260, 2-bedrooms: $1,760, 3-bedrooms: $2,630, 4-bedrooms: $2,480. The most common rental property sizes in Garfield, Phoenix, AZ are 2-bedroom and 1-bedroom, accounting for 35.4% and 34.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,750 |
| Studio Rent | $1,020 | $1,120 |
| 1 Bed Rent | $1,200 | $1,260 |
| 2 Bed Rent | $1,640 | $1,760 |
| 3 Bed Rent | $2,500 | $2,630 |
| 4 Bed Rent | $2,780 | $2,480 |
% of Rental Stock
Property Listings — Garfield, Phoenix, AZ
As of Nov '25, Realtor.com reports that the median days on market for a home in Garfield, Phoenix, AZ is 88. This is a increase of 17.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $480,000 | -5.0% |
Listing Count | 74 | 8.0% |
| Listings as % of Homes | 0.6% | 8.0% |
Days on Market | 88 | 17.0% |
Demographics — Garfield, Phoenix, AZ
As of the latest ACS Survey released in 2023, Garfield, Phoenix, AZ has a population of 22,100, which has decreased by -21.6% over the past 5 years. Garfield, 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 26.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,100 | -21.6% |
% Under 18 | 22.6% | -17.5% |
% Seniors | 7.8% | 14.7% |
% WFH | 15.1% | 243.2% |
% w/ College Degree | 26.6% | 21.5% |
As of the latest ACS Survey released in 2023, Garfield, Phoenix, AZ is a predominantly hispanic area, with 58.4% of the population identifying as hispanic. The hispanic population has shrunk by 10.8% in the last 5 years. The second most common race or ethnicity in Garfield, Phoenix, AZ is white, making up 29.9% of the population. Foreign-born residents account for 20.7% of the population in Garfield, Phoenix, AZ, and this percentage has decreased by 25.5% 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 | 29.9% | 15.9% |
% Black | 7.0% | 84.2% |
% Hispanic | 58.4% | -10.8% |
% Asian | 1.5% | 50.0% |
% Foreign Born | 20.7% | -25.5% |
Mortgage and Risk — Garfield, Phoenix, AZ
According to HUD data as of 2023, there were 258 mortgage originations in Garfield, Phoenix, AZ, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Garfield, Phoenix, AZ. Investor activity is low, as 5.0% 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 | 258 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Rentals and Section 8 — Garfield, Phoenix, AZ
As of 2024, the percent of homes in Garfield, Phoenix, AZ under the Section 8 program is 9.5%. 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 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Garfield, Phoenix, AZ, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 646 |
Total Units Section 8 | 568 |
% Rentals under Section 8 | 9.5% |
% Occupied Section 8 | 92.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $240 | $1,200 | $1,440 |
| 2 Bedroom | $50 | $1,640 | $1,690 |
| 3 Bedroom | -$210 | $2,500 | $2,290 |
| 4 Bedroom | -$170 | $2,780 | $2,610 |
Affordability — Garfield, Phoenix, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.9 |
| Median Home Price | $403,000 |
| Median Household Income | $60,700 |