ZIP Code · AZ

ZIP 85015

Part of Phoenix, AZ

Pop. 41,490·Maricopa County·170th most expensive ZIP in Arizona

Median rent (all units)

$1,220/mo

Year-over-Year

-4.1%

Month-over-Month

-1.1%

vs US Median

-$712

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 85015 · $1,220

More affordable than 90% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$894

1 BR

$966

2 BR

$1,124

3 BR

$1,499

4 BR+

$1,693

Research median

$1,124/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

Compared with the peak

Rent in ZIP 85015 is 9.4% below its high of $1,347 in June 2023, at $1,220 as of September 2026.

Past year vs. the rest of Arizona

Rent in ZIP 85015 changed -4.1% over the year to September 2026. Across the 171 Arizona ZIP codes Zillow tracks, the typical change was +1.6%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 85015 rose 43.3% while median household income rose 44.3% ($38,019 to $54,874). Income kept ahead of rent.

Since before the pandemic

Rent in ZIP 85015 is 28.6% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has fallen 4 months in a row, and rose in 3 of the last 12 months.

What a typical income covers

30% of the median household income ($54,874) is $1,372 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,340); a 2-bedroom is $1,560.

Rank in Phoenix

5th cheapest of 43 ZIP codes in Phoenix.

From Zillow's monthly rent index (ZORI) for ZIP 85015. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$14,640/yr

At $1,220/mo median

Location

CityPhoenix

StateAZ

CountyMaricopa County

Rent Market Meter

Strong Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are down 4.1% year-over-year. Push hard on price, concessions, and lease terms.

Based on rent-price momentum (-4.1% YoY, -1.1% MoM), not inventory.

Demographics

Who lives here

ZIP 85015 (Phoenix, AZ) is majority renter-occupied, has a large share of families with children, has a median income below the national average, 26.4% of residents hold a bachelor's degree or higher.

Population

41,490

Median income

$54,874

Median age

32.2

Renters

65.4%

Age distribution

25.9%

29%

25.6%

Under 1825.9%

18–3429%

35–5425.6%

55–649.8%

65+9.7%

Gender

52%

48%

Male52%

Female48%

Race & ethnicity

32.8%

13.9%

52.6%

White32.8%

Black13.9%

Hispanic52.6%

Asian4.4%

Education (25+)

20.5%

26.1%

26.9%

26.4%

No HS diploma20.5%

HS diploma26.1%

Some college26.9%

Bachelor's+26.4%

Housing tenure

34.6%

65.4%

Owner34.6%

Renter65.4%

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

2021 vs 2026

How ZIP 85015 in Phoenix, AZ has changed in 5 years

Rent

$1,070 → $1,220

up 14.0%

Income

$42,823 → $54,874

up 28.1%

Population

41,848 → 41,490

down 0.9%

Renter share

65.6% → 65.4%

-0.2 pts

Bachelor's+

22.4% → 26.4%

+4.0 pts

Rent in ZIP 85015 in Phoenix, AZ has increased 14.0% since 2021, going from about $1,070 per month to roughly $1,220 today. Median household income grew from $42,823 to $54,874 between 2021 and 2024, a 28.1% shift. Income growth outran rent by about 14.1 percentage points, easing the affordability math somewhat compared with 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 22.4% to 26.4%. Taken together, the five-year picture in ZIP 85015 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 85015

Last updated: October 17, 2026

ZIP code 85015 covers Phoenix, AZ. The median rent here is $1,220/mo as of October 2026. A 1-bedroom rents for a median of $966/mo. A 2-bedroom rents for a median of $1,124/mo.

At 27% of local median household income ($54,874/yr), ZIP 85015 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 4.1% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 85015?

To keep rent at or below 30% of gross income, you would need to earn at least $49,000/year (about $24/hour full-time) to afford the median rent of $1,220/mo in ZIP 85015. The local median household income is $54,874/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 85015?

Rent in ZIP 85015 has fallen 4.1% over the past year as of September 2026. It sits 9.4% below its high of $1,347 in June 2023.

Has rent outpaced income in ZIP 85015?

No. From 2019 to 2024, rent in ZIP 85015 rose 43.3% while median household income rose 44.3%, from $38,019 to $54,874. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 85015 compare to other ZIPs in Arizona?

ZIP 85015 is one of the more affordable among Arizona ZIP codes for rent, ranking #170 of 183 at $1,220/mo. Over the year to September 2026, rent in ZIP 85015 changed -4.1%, against a typical +1.6% across the 171 Arizona ZIP codes Zillow tracks.