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ZIP Code · AZ

ZIP 85016

Part of Phoenix, AZ
Pop. 37,074·Maricopa County·107th most expensive ZIP in Arizona
Median rent (all units)
$1,698/mo
Year-over-Year
+1.9%
Month-over-Month
+2.0%
vs US Median
-$267
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 85016 · $1,698
More affordable than 59% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,680
1 BR
$1,830
2 BR
$2,120
3 BR
$2,830
4 BR+
$3,140
Research median
$2,120/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: July 20, 2026

Annual cost
$20,376/yr
At $1,698/mo median
Location
StateAZ
CountyMaricopa County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (1.9% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+1.9% YoY, +2.0% MoM), not inventory.
Demographics

Who lives here

ZIP 85016 (Phoenix, AZ) is roughly split between renters and owners, skews toward younger working-age adults, 54.3% of residents hold a bachelor's degree or higher.

Population
37,074
Median income
$87,850
Median age
36.9
Renters
48.9%
Age distribution
13%
34.3%
24.5%
16.5%
Under 1813%
18–3434.3%
35–5424.5%
55–6411.8%
65+16.5%
Gender
48%
52%
Male48%
Female52%
Race & ethnicity
63.7%
29.4%
White63.7%
Black2.8%
Hispanic29.4%
Asian5.2%
Education (25+)
15.7%
24%
54.3%
No HS diploma6%
HS diploma15.7%
Some college24%
Bachelor's+54.3%
Housing tenure
51.1%
48.9%
Owner51.1%
Renter48.9%

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

2021 vs 2026

How ZIP 85016 in Phoenix, AZ has changed in 5 years

Rent
$1,384 → $1,698
up 22.7%
Income
$71,318 → $87,850
up 23.2%
Population
36,320 → 37,074
up 2.1%
Renter share
50.5% → 48.9%
-1.6 pts
Bachelor's+
47.3% → 54.3%
+7.0 pts
Median age
37.6 → 36.9
-0.7 yrs

Compared with 2021, rent in ZIP 85016 in Phoenix, AZ has increased by $314 per month, settling near $1,698 after starting the period at $1,384. Household income in the area moved from $71,318 to $87,850 across the same window, up 23.2% versus 2021. Headcount in the area went from 36,320 to 37,074 between 2021 and 2024, a 2.1% change. About 48.9% of households rent today, against 50.5% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 47.3% to 54.3%. Reading these numbers side by side helps frame whether current listings in ZIP 85016 in Phoenix, AZ look reasonable against where the market sat half a decade ago.

Community

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Local insights

Tips for renters in ZIP 85016

About renting in ZIP 85016

Last updated: July 20, 2026

ZIP code 85016 covers Phoenix, AZ. The median rent here is $1,698/mo as of July 2026. A 1-bedroom rents for a median of $1,830/mo. A 2-bedroom rents for a median of $2,120/mo.

At 23% of local median household income ($87,850/yr), ZIP 85016 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.9% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 85016?

As of July 20, 2026, the median monthly rent in ZIP 85016 (Phoenix, AZ) is $1,698. This is based on aggregated data from public sources and community submissions.

How does ZIP 85016 rent compare to the US average?

ZIP 85016's median rent of $1,698/mo is $267 (14%) below the US national median of $1,965/mo.

How does ZIP 85016 compare to other ZIPs in Arizona?

ZIP 85016 falls in the middle range for Arizona, ranking #107 out of 185 ZIPs at $1,698/mo.

How much income do you need to rent in ZIP 85016?

To keep rent at or below 30% of gross income, you would need to earn at least $68,000/year (~$33/hour full-time) to afford the median rent of $1,698/mo in ZIP 85016. The local median household income is $87,850/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 85016?

Rent in ZIP 85016 has increased 1.9% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 85016 an affordable place to rent?

ZIP 85016 is considered very affordable for renters. At $1,698/mo, rent takes approximately 23% of the local median household income ($87,850/yr). The standard benchmark is 30%. ZIP 85016 falls comfortably within that range.

What percentage of ZIP 85016 residents rent vs. own?

According to Census data, approximately 48.9% of ZIP 85016 households are renters, while 51.1% are owner-occupied. ZIP 85016 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 85016 compare to the rest of Phoenix?

ZIP 85016 is pricier than Phoenix as a whole. At $1,698/mo, it's $129 above the Phoenix citywide median of $1,569/mo.

When was rent data for ZIP 85016 last updated?

Rent data for ZIP 85016 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
23%
VERY AFFORDABLE

At $1,698/mo, rent takes ~23% of ZIP 85016's median household income ($87,850/yr). The standard benchmark is 30%.

ZIP 85016 23%Benchmark 30%
State income tax2.5%
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Schools nearby

Public schools near ZIP 85016 (Phoenix, AZ)

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