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  5. /Central City South, Phoenix, AZ - 85034

Central City South, Phoenix, AZ—85034

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$282,000
5.3% YoY Growth
Household Income
$53,500
95.5% YoY Growth
Days on Market
52
31.0% Shorter YoY
Home Price Forecast
-1.5%
Median Rent
$1,700
5.0% YoY Growth
1-Bed Rent
$1,300
17.4% YoY Growth
2-Bed Rent
$1,850
1.5% YoY Growth
3-Bed Rent
$2,150
1.4% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Central City South, Phoenix, AZ

As of May '26, the median home price in Central City South, Phoenix, AZ is $282,000, with a year-over-year change of 5.3%. This indicates that home prices in Central City South, Phoenix, AZ are increasing. According to Zillow, the 1-year price projection is -1.5%, suggesting a decrease housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$282,0005.3%
Single Family $275,0007.8%
Condos $325,0000.3%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$331,000-0.9%
    3 Bed
    		$345,0000.9%
    4 Bed
    		N/AN/A
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    5.3%
    1 Bedroom
    32.6%
    2 Bedrooms
    34.2%
    3 Bedrooms
    21.3%
    4 Bedrooms
    4.9%
    5+ Bedrooms
    1.7%

    Rental Trends — Central City South, Phoenix, AZ

    As of July '25, Rentcast reports the average rent in Central City South, Phoenix, AZ is $1,700, with a year-over-year rent change of -5.0%. Per bedroom, the median rent as of July '25 in Central City South, Phoenix, AZ is studios: $1,220, 1-bedrooms: $1,230, 2-bedrooms: $1,910, 3-bedrooms: $2,080, 4-bedrooms: $2,610. The most common rental property sizes in Central City South, Phoenix, AZ are 2-bedroom and 1-bedroom, accounting for 39.5% and 35.6% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,700$1,700
    Studio Rent $1,250$1,220
    1 Bed Rent $1,300$1,230
    2 Bed Rent $1,850$1,910
    3 Bed Rent $2,150$2,080
    4 Bed Rent $2,500$2,610
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    % of Rental Stock

    Studio
    8.3%
    1 Bedroom
    35.6%
    2 Bedrooms
    39.5%
    3 Bedrooms
    12.6%
    4 Bedrooms
    2.7%
    5+ Bedrooms
    1.3%

    Property Listings — Central City South, Phoenix, AZ

    As of May '26, Realtor.com reports that the median days on market for a home in Central City South, Phoenix, AZ is 52. This is a decrease of -31.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$350,000-16.0%
    Listing Count
    		14-26.0%
    Listings as % of Homes0.1%-26.0%
    Days on Market
    		52-31.0%
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    Demographics — Central City South, Phoenix, AZ

    As of the latest ACS Survey released in 2023, Central City South, Phoenix, AZ has a population of 4,820, which has increased by 1.1% over the past 5 years. Central City South, Phoenix, AZ is a moderately popular place for families, as children make up 17.6% of the population. The area has a moderately educated workforce, with 31.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.8% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		4,8201.1%
    % Under 18
    		17.6%-38.9%
    % Seniors
    		6.8%-13.9%
    % WFH
    		12.8%113.3%
    % w/ College Degree
    		31.7%64.2%
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    As of the latest ACS Survey released in 2023, Central City South, Phoenix, AZ is a predominantly hispanic area, with 54.3% of the population identifying as hispanic. The hispanic population has shrunk by 20.1% in the last 5 years. The second most common race or ethnicity in Central City South, Phoenix, AZ is white, making up 30.9% of the population. Foreign-born residents account for 17.9% of the population in Central City South, Phoenix, AZ, and this percentage has decreased by 26.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		30.9%89.6%
    % Black
    		7.6%-25.5%
    % Hispanic
    		54.3%-20.1%
    % Asian
    		2.6%85.7%
    % Foreign Born
    		17.9%-26.3%
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    Mortgage and Risk — Central City South, Phoenix, AZ

    According to HUD data as of 2023, there were 21 mortgage originations in Central City South, Phoenix, AZ, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Central City South, Phoenix, AZ. Investor activity is low, as 14.0% of loans were by investors. 29.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		21
    % Conventional Loans
    		71.0%
    % Government Loans
    		29.0%
    % Investor Loans
    		14.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		29.0%
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    Rentals and Section 8 — Central City South, Phoenix, AZ

    As of 2024, the percent of homes in Central City South, Phoenix, AZ under the Section 8 program is 14.5%. 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 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Central City South, Phoenix, AZ, because HUD payments exceed market rent, while 2-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		277
    Total Units Section 8
    		277
    % Rentals under Section 8
    		14.5%
    % Occupied Section 8
    		91.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$180$1,300$1,480
    2 Bedroom-$130$1,850$1,720
    3 Bedroom$160$2,150$2,310
    4 Bedroom$110$2,500$2,610

    Affordability — Central City South, Phoenix, AZ

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio5.2
    Median Home Price$282,000
    Median Household Income$53,500

    Central City South, Phoenix, AZ — ZIP Code Boundary Map

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    Frequently Asked Questions