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  5. /Midtown Phoenix, Phoenix, AZ - 85014

Midtown Phoenix, Phoenix, AZ—85014

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$447,000
1.8% YoY Growth
Household Income
$70,000
39.7% YoY Growth
Days on Market
68
16.0% Longer YoY
Home Price Forecast
-1.3%
Median Rent
$1,750
1.5% YoY Growth
1-Bed Rent
$1,200
10.9% YoY Growth
2-Bed Rent
$1,750
6.7% YoY Growth
3-Bed Rent
$2,800
6.6% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Midtown Phoenix, Phoenix, AZ

As of May '26, the median home price in Midtown Phoenix, Phoenix, AZ is $447,000, with a year-over-year change of -1.8%. This indicates that home prices in Midtown Phoenix, Phoenix, AZ are decreasing. According to Zillow, the 1-year price projection is -1.3%, suggesting a decrease housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$447,000-1.8%
Single Family $514,000-1.0%
Condos $254,000-3.4%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $208,000
    -7.1%
    2 Bed
    		$317,000-4.8%
    3 Bed
    		$567,000-0.9%
    4 Bed
    		$765,000-0.3%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    9.8%
    1 Bedroom
    25.0%
    2 Bedrooms
    35.0%
    3 Bedrooms
    22.0%
    4 Bedrooms
    7.3%
    5+ Bedrooms
    0.9%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    15.5%
    1 Bedroom
    38.2%
    2 Bedrooms
    36.0%
    3 Bedrooms
    9.1%
    4 Bedrooms
    1.2%

    Property Listings — Midtown Phoenix, Phoenix, AZ

    As of May '26, Realtor.com reports that the median days on market for a home in Midtown Phoenix, Phoenix, AZ is 68. This is a increase of 16.0% 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 40.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$448,000-31.0%
    Listing Count
    		16015.0%
    Listings as % of Homes0.6%15.0%
    Days on Market
    		6816.0%
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    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.

    MetricLatest CensusYoY % 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%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio6.7
    Median Home Price$447,000
    Median Household Income$70,000

    Midtown Phoenix, Phoenix, AZ — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Uptown Phoenix, Phoenix, AZ

    85012

    Biltmore Area, Phoenix, AZ

    85016

    Melrose District, Phoenix, AZ

    85013

    Garfield, Phoenix, AZ

    85006

    Alhambra, Phoenix, AZ

    85015

    Frequently Asked Questions