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ZIP Code · AZ

ZIP 85023

Part of Phoenix, AZ
Pop. 35,034·Maricopa County·164th most expensive ZIP in Arizona
Median rent (all units)
$1,295/mo
Year-over-Year
+0.5%
Month-over-Month
+1.3%
vs US Median
-$635
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 85023 · $1,295
More affordable than 87% of US ZIP codes · National median $1,930/mo
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Medians by bedroom

Rent by unit size

Studio
$948
1 BR
$1,028
2 BR
$1,195
3 BR
$1,596
4 BR+
$1,771
Research median
$1,195/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: May 18, 2026

Annual cost
$15,540/yr
At $1,295/mo median
Location
StateAZ
CountyMaricopa County
Demographics

Who lives here

ZIP 85023 (Phoenix, AZ) is majority owner-occupied, 32.8% of residents hold a bachelor's degree or higher.

Population
35,034
Median income
$77,369
Median age
37.9
Renters
40.4%
Age distribution
22.8%
22.7%
28%
14.9%
Under 1822.8%
18–3422.7%
35–5428%
55–6411.6%
65+14.9%
Gender
48.8%
51.2%
Male48.8%
Female51.2%
Race & ethnicity
64.9%
25.4%
White64.9%
Black6.5%
Hispanic25.4%
Asian5.5%
Education (25+)
26%
31.3%
32.8%
No HS diploma9.9%
HS diploma26%
Some college31.3%
Bachelor's+32.8%
Housing tenure
59.6%
40.4%
Owner59.6%
Renter40.4%

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

2021 vs 2026

How ZIP 85023 in Phoenix, AZ has changed in 5 years

Rent
$1,157 → $1,295
up 11.9%
Income
$62,185 → $77,369
up 24.4%
Population
33,985 → 35,034
up 3.1%
Renter share
41.2% → 40.4%
-0.8 pts
Bachelor's+
31% → 32.8%
+1.8 pts
Median age
36.2 → 37.9
+1.7 yrs

Five years ago, renters in ZIP 85023 in Phoenix, AZ paid around $1,157 a month. That figure now sits near $1,295, up 11.9% from the 2021 baseline. Household income in the area moved from $62,185 to $77,369 across the same window, up 24.4% versus 2021. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. Census counts show ZIP 85023 in Phoenix, AZ adding about 1,049 residents over the five-year window, up 3.1% on net. Reading these numbers side by side helps frame whether current listings in ZIP 85023 in Phoenix, AZ look reasonable against where the market sat half a decade ago.

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Local insights

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About renting in ZIP 85023

Last updated: May 18, 2026

ZIP code 85023 covers Phoenix, AZ. The median rent here is $1,295/mo as of May 2026. A 1-bedroom rents for a median of $1,028/mo. A 2-bedroom rents for a median of $1,195/mo.

At 20% of local median household income ($77,369/yr), ZIP 85023 ranks as affordable compared to the national benchmark of 30%. Rents have increased 0.5% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 85023?

As of May 18, 2026, the median monthly rent in ZIP 85023 (Phoenix, AZ) is $1,295. This is based on aggregated data from public sources and community submissions.

How does ZIP 85023 rent compare to the US average?

ZIP 85023's median rent of $1,295/mo is $635 (33%) below the US national median of $1,930/mo.

How does ZIP 85023 compare to other ZIPs in Arizona?

ZIP 85023 is among the more affordable ZIP codes in Arizona, ranking #164 out of 183 ZIPs at $1,295/mo.

How much income do you need to rent in ZIP 85023?

To keep rent at or below 30% of gross income, you would need to earn at least $52,000/year (~$25/hour full-time) to afford the median rent of $1,295/mo in ZIP 85023. The local median household income is $77,369/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 85023?

Rent in ZIP 85023 has increased 0.5% over the past year as of May 18, 2026, putting upward pressure on renter budgets.

Is ZIP 85023 an affordable place to rent?

ZIP 85023 is considered very affordable for renters. At $1,295/mo, rent takes approximately 20% of the local median household income ($77,369/yr). The standard benchmark is 30%. ZIP 85023 falls comfortably within that range.

What percentage of ZIP 85023 residents rent vs. own?

According to Census data, approximately 40.4% of ZIP 85023 households are renters, while 59.6% are owner-occupied. ZIP 85023 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 85023 compare to the rest of Phoenix?

ZIP 85023 is more affordable than Phoenix overall. At $1,295/mo, it's $276 below the Phoenix citywide median of $1,571/mo.

When was rent data for ZIP 85023 last updated?

Rent data for ZIP 85023 reflects May 18, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Affordability
20%
VERY AFFORDABLE

At $1,295/mo, rent takes ~20% of ZIP 85023's median household income ($77,369/yr). The standard benchmark is 30%.

ZIP 85023 20%Benchmark 30%
State income tax2.5%
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Schools nearby

Public schools near ZIP 85023 (Phoenix, AZ)

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