Deer Valley, Phoenix, AZ—85023
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Deer Valley, Phoenix, AZ
Home Price Trends — Deer Valley, Phoenix, AZ
As of Oct '25, the median home price in Deer Valley, Phoenix, AZ is $417,000, with a year-over-year change of -4.4%. This indicates that home prices in Deer Valley, Phoenix, AZ are decreasing. According to Zillow, the 1-year price projection is -0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $417,000 | -4.4% |
| Single Family | $421,000 | -4.1% |
| Condos | $258,000 | -3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $308,000 | -4.9% |
3 Bed | $412,000 | -4.0% |
4 Bed | $511,000 | -3.4% |
| 5 Bed | $762,000 | -1.6% |
% of Housing Stock
Rental Trends — Deer Valley, Phoenix, AZ
As of July '25, Rentcast reports the average rent in Deer Valley, Phoenix, AZ is $1,920, with a year-over-year rent change of 1.6%. Per bedroom, the median rent as of July '25 in Deer Valley, Phoenix, AZ is studios: $834, 1-bedrooms: $1,070, 2-bedrooms: $1,520, 3-bedrooms: $2,240, 4-bedrooms: $2,920. The most common rental property sizes in Deer Valley, Phoenix, AZ are 2-bedroom and 1-bedroom, accounting for 41.6% and 35.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,950 | $1,920 |
| Studio Rent | $849 | $834 |
| 1 Bed Rent | $995 | $1,070 |
| 2 Bed Rent | $1,350 | $1,520 |
| 3 Bed Rent | $2,200 | $2,240 |
| 4 Bed Rent | $2,640 | $2,920 |
% of Rental Stock
Property Listings — Deer Valley, Phoenix, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Deer Valley, Phoenix, AZ is 46. This is a increase of 19.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $434,000 | -1.0% |
Listing Count | 96 | 26.0% |
| Listings as % of Homes | 0.6% | 26.0% |
Days on Market | 46 | 19.0% |
Demographics — Deer Valley, Phoenix, AZ
As of the latest ACS Survey released in 2023, Deer Valley, Phoenix, AZ has a population of 34,600, which has remained stable by 0.4% over the past 5 years. Deer Valley, Phoenix, AZ is a moderately popular place for families, as children make up 22.9% of the population. The area has a moderately educated workforce, with 31.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 34,600 | 0.4% |
% Under 18 | 22.9% | -3.8% |
% Seniors | 13.6% | -2.2% |
% WFH | 20.6% | 274.5% |
% w/ College Degree | 31.6% | 5.0% |
As of the latest ACS Survey released in 2023, Deer Valley, Phoenix, AZ is a predominantly white area, with 55.6% of the population identifying as white. The white population has shrunk by 7.5% in the last 5 years. The second most common race or ethnicity in Deer Valley, Phoenix, AZ is hispanic, making up 26.4% of the population. Foreign-born residents account for 16.7% of the population in Deer Valley, Phoenix, AZ, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 55.6% | -7.5% |
% Black | 7.1% | 29.1% |
% Hispanic | 26.4% | -0.4% |
% Asian | 5.8% | 41.5% |
% Foreign Born | 16.7% | 0.0% |
Mortgage and Risk — Deer Valley, Phoenix, AZ
According to HUD data as of 2023, there were 519 mortgage originations in Deer Valley, Phoenix, AZ, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Deer Valley, Phoenix, AZ. Investor activity is low, as 1.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 519 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Deer Valley, Phoenix, AZ
As of 2024, the percent of homes in Deer Valley, Phoenix, AZ under the Section 8 program is 2.7%. 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. In Deer Valley, 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 | 162 |
Total Units Section 8 | 150 |
% Rentals under Section 8 | 2.7% |
% Occupied Section 8 | 91.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $525 | $995 | $1,520 |
| 2 Bedroom | $410 | $1,350 | $1,760 |
| 3 Bedroom | $170 | $2,200 | $2,370 |
| 4 Bedroom | $10 | $2,640 | $2,650 |
Affordability — Deer Valley, Phoenix, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.9 |
| Median Home Price | $417,000 |
| Median Household Income | $72,400 |