Midtown Phoenix, Phoenix, AZ—85014
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Midtown Phoenix, Phoenix, AZ
As of Oct '25, the median home price in Midtown Phoenix, Phoenix, AZ is $446,000, with a year-over-year change of -4.4%. This indicates that home prices in Midtown Phoenix, Phoenix, AZ are decreasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $446,000 | -4.4% |
| Single Family | $511,000 | -4.1% |
| Condos | $257,000 | -7.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $220,000 | -7.2% |
2 Bed | $325,000 | -6.3% |
3 Bed | $569,000 | -3.9% |
4 Bed | $768,000 | -1.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Midtown Phoenix, Phoenix, AZ
As of July '25, Rentcast reports the average rent in Midtown Phoenix, Phoenix, AZ is $1,950, with a year-over-year rent change of -1.5%. Per bedroom, the median rent as of July '25 in Midtown Phoenix, Phoenix, AZ is studios: $1,080, 1-bedrooms: $1,220, 2-bedrooms: $1,820, 3-bedrooms: $2,690, 4-bedrooms: $4,350. The most common rental property sizes in Midtown Phoenix, Phoenix, AZ are 1-bedroom and 2-bedroom, accounting for 38.2% and 36.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,750 | $1,950 |
| Studio Rent | $1,020 | $1,080 |
| 1 Bed Rent | $1,200 | $1,220 |
| 2 Bed Rent | $1,750 | $1,820 |
| 3 Bed Rent | $2,800 | $2,690 |
| 4 Bed Rent | $3,550 | $4,350 |
% of Rental Stock
Property Listings — Midtown Phoenix, Phoenix, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Midtown Phoenix, Phoenix, AZ is 65. This is a increase of 23.0% 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 58.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $512,000 | -13.0% |
Listing Count | 130 | 17.0% |
| Listings as % of Homes | 0.6% | 17.0% |
Days on Market | 65 | 23.0% |
Demographics — Midtown Phoenix, Phoenix, AZ
As of the latest ACS Survey released in 2023, Midtown Phoenix, Phoenix, AZ has a population of 26,200, which has decreased by -4.3% over the past 5 years. Midtown Phoenix, Phoenix, AZ is a moderately popular place for families, as children make up 16.3% of the population. The area has a moderately educated workforce, with 42.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,200 | -4.3% |
% Under 18 | 16.3% | -10.4% |
% Seniors | 15.6% | 27.9% |
% WFH | 18.6% | 279.6% |
% w/ College Degree | 42.6% | 7.8% |
As of the latest ACS Survey released in 2023, Midtown Phoenix, Phoenix, AZ is a predominantly white area, with 52.1% of the population identifying as white. The white population has shrunk by 1.3% in the last 5 years. The second most common race or ethnicity in Midtown Phoenix, Phoenix, AZ is hispanic, making up 28.7% of the population. Foreign-born residents account for 12.2% of the population in Midtown Phoenix, Phoenix, AZ, and this percentage has decreased by 14.7% 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 | 52.1% | -1.3% |
% Black | 5.5% | -6.8% |
% Hispanic | 28.7% | -7.7% |
% Asian | 3.8% | 15.2% |
% Foreign Born | 12.2% | -14.7% |
Mortgage and Risk — Midtown Phoenix, Phoenix, AZ
According to HUD data as of 2023, there were 382 mortgage originations in Midtown Phoenix, Phoenix, AZ, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Midtown Phoenix, Phoenix, AZ. Investor activity is low, as 3.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 382 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Midtown Phoenix, Phoenix, AZ
As of 2024, the percent of homes in Midtown Phoenix, Phoenix, AZ under the Section 8 program is 3.7%. 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 Midtown Phoenix, 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 | 359 |
Total Units Section 8 | 283 |
% Rentals under Section 8 | 3.7% |
% Occupied Section 8 | 92.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $500 | $1,200 | $1,700 |
| 2 Bedroom | $220 | $1,750 | $1,970 |
| 3 Bedroom | -$150 | $2,800 | $2,650 |
| 4 Bedroom | -$590 | $3,550 | $2,960 |
Affordability — Midtown Phoenix, Phoenix, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.6 |
| Median Home Price | $446,000 |
| Median Household Income | $70,000 |