ZIP Code · AZ

ZIP 85004

Part of Phoenix, AZ

Pop. 12,408·Maricopa County·84th most expensive ZIP in Arizona

Median rent (all units)

$1,776/mo

Year-over-Year

-0.8%

Month-over-Month

+0.3%

vs US Median

-$156

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 85004 · $1,776

More affordable than 53% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,700

1 BR

$1,850

2 BR

$2,150

3 BR

$2,870

4 BR+

$3,180

Research median

$2,150/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

January. Asking rents in ZIP 85004 usually run 1.1% below trend in January and 1.5% above it in June, about $46 a month apart at today's median. Based on 6 years of data.

Compared with the peak

Rent in ZIP 85004 is 5.3% below its high of $1,876 in June 2022, at $1,776 as of September 2026.

Past year vs. the rest of Arizona

Rent in ZIP 85004 changed -0.8% over the year to September 2026. Across the 171 Arizona ZIP codes Zillow tracks, the typical change was +1.6%.

Since before the pandemic

Rent in ZIP 85004 is 8.6% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has risen 5 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($73,750) is $1,844 a month. That covers HUD's Fair Market Rent for up to a studio ($1,700); a 1-bedroom is $1,850.

Rank in Phoenix

31st cheapest of 43 ZIP codes in Phoenix.

Cheaper nearby

ZIP 85007, 1 mile away, rents for 23% less ($1,375/mo), about $4,800 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 85004. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$21,312/yr

At $1,776/mo median

Location

CityPhoenix

StateAZ

CountyMaricopa County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (-0.8% YoY, +0.3% MoM), not inventory.

Demographics

Who lives here

ZIP 85004 (Phoenix, AZ) is majority renter-occupied, skews toward younger working-age adults, 60.6% of residents hold a bachelor's degree or higher.

Population

12,408

Median income

$73,750

Median age

27.9

Renters

78.9%

Age distribution

58.5%

16.9%

Under 187.9%

18–3458.5%

35–5416.9%

55–648.7%

65+8%

Gender

48.7%

51.3%

Male48.7%

Female51.3%

Race & ethnicity

58.3%

22.5%

White58.3%

Black5.6%

Hispanic22.5%

Asian6.9%

Other6.7%

Education (25+)

12.5%

19.3%

60.6%

No HS diploma7.6%

HS diploma12.5%

Some college19.3%

Bachelor's+60.6%

Housing tenure

21.1%

78.9%

Owner21.1%

Renter78.9%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 85004 in Phoenix, AZ has changed in 5 years

Rent

$1,601 → $1,776

up 10.9%

Income

$59,913 → $73,750

up 23.1%

Population

9,071 → 12,408

up 36.8%

Renter share

77% → 78.9%

+1.9 pts

Bachelor's+

62% → 60.6%

-1.4 pts

The median rent in ZIP 85004 in Phoenix, AZ stood at $1,601 in 2021 and currently runs about $1,776, reflecting a 10.9% increase over the period. Median household income rose from $59,913 to $73,750 between 2021 and 2024, a 23.1% shift. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 36.8% since 2021, moving from about 9,071 residents to roughly 12,408. Renters now make up 78.9% of households, compared with 77% five years ago. Taken together, the five-year picture in ZIP 85004 in Phoenix, AZ reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 85004

Last updated: October 17, 2026

ZIP code 85004 covers Phoenix, AZ. The median rent here is $1,776/mo as of October 2026. A 1-bedroom rents for a median of $1,850/mo. A 2-bedroom rents for a median of $2,150/mo.

At 29% of local median household income ($73,750/yr), ZIP 85004 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 85004?

To keep rent at or below 30% of gross income, you would need to earn at least $71,000/year (about $34/hour full-time) to afford the median rent of $1,776/mo in ZIP 85004. The local median household income is $73,750/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 85004?

Rent in ZIP 85004 has fallen 0.8% over the past year as of September 2026. It sits 5.3% below its high of $1,876 in June 2022.

When is the cheapest time to rent in ZIP 85004?

Asking rents in ZIP 85004 are usually lowest in January, about 1.1% below their yearly trend, and highest in June, about 1.5% above it. At today's median that is a gap of roughly $46 a month. This pattern comes from 6 years of Zillow rent data.

How does ZIP 85004 compare to other ZIPs in Arizona?

ZIP 85004 is in the middle among Arizona ZIP codes for rent, ranking #84 of 183 at $1,776/mo. Over the year to September 2026, rent in ZIP 85004 changed -0.8%, against a typical +1.6% across the 171 Arizona ZIP codes Zillow tracks.