ZIP Code · AZ

ZIP 85031

Part of Phoenix, AZ

Pop. 31,191·Maricopa County·181st most expensive ZIP in Arizona

Median rent (all units)

$1,107/mo

Year-over-Year

-0.9%

Month-over-Month

-3.1%

vs US Median

-$825

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 85031 · $1,107

More affordable than 95% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$812

1 BR

$878

2 BR

$1,022

3 BR

$1,365

4 BR+

$1,510

Research median

$1,022/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 85031 is 3.7% below its high of $1,150 in July 2024, at $1,107 as of September 2026.

Past year vs. the rest of Arizona

Rent in ZIP 85031 changed -0.9% over the year to September 2026. Across the 171 Arizona ZIP codes Zillow tracks, the typical change was +1.6%.

Recent direction

Rent rose in 5 of the last 12 months.

What a typical income covers

30% of the median household income ($70,412) is $1,760 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,700); a 3-bedroom is $2,270.

Rank in Phoenix

1st cheapest of 43 ZIP codes in Phoenix.

From Zillow's monthly rent index (ZORI) for ZIP 85031. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$13,284/yr

At $1,107/mo median

Location

CityPhoenix

StateAZ

CountyMaricopa County

Rent Market Meter

Strong Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are down 0.9% year-over-year. Push hard on price, concessions, and lease terms.

Based on rent-price momentum (-0.9% YoY, -3.1% MoM), not inventory.

Demographics

Who lives here

ZIP 85031 (Phoenix, AZ) is majority owner-occupied, has a large share of families with children, 8.9% of residents hold a bachelor's degree or higher.

Population

31,191

Median income

$70,412

Median age

29.6

Renters

33.9%

Age distribution

27.9%

29.8%

25.3%

Under 1827.9%

18–3429.8%

35–5425.3%

55–647.8%

65+9.3%

Gender

53.7%

46.3%

Male53.7%

Female46.3%

Race & ethnicity

26%

82%

White26%

Black4.3%

Hispanic82%

Asian0.6%

Education (25+)

37.9%

29.4%

23.8%

No HS diploma37.9%

HS diploma29.4%

Some college23.8%

Bachelor's+8.9%

Housing tenure

66.1%

33.9%

Owner66.1%

Renter33.9%

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

2022 vs 2026

How ZIP 85031 in Phoenix, AZ has changed in 5 years

Rent

$1,065 → $1,107

up 3.9%

Income

$56,185 → $70,412

up 25.3%

Population

33,410 → 31,191

down 6.6%

Renter share

39.9% → 33.9%

-6.0 pts

Bachelor's+

5.2% → 8.9%

+3.7 pts

Median age

28.8 → 29.6

+0.8 yrs

Across the past five years, the going rent in ZIP 85031 in Phoenix, AZ has shifted from $1,065 to $1,107, up 3.9% since 2022. Household income in the area moved from $56,185 to $70,412 across the same window, up 25.3% 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 85031 in Phoenix, AZ losing about 2,219 residents over the five-year window, down 6.6% on net. The renter share has eased from 39.9% to 33.9%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 5.2% to 8.9% across the same window. Reading these numbers side by side helps frame whether current listings in ZIP 85031 in Phoenix, AZ look reasonable against where the market sat half a decade ago.

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About renting in ZIP 85031

Last updated: October 17, 2026

ZIP code 85031 covers Phoenix, AZ. The median rent here is $1,107/mo as of October 2026. A 1-bedroom rents for a median of $878/mo. A 2-bedroom rents for a median of $1,022/mo.

At 19% of local median household income ($70,412/yr), ZIP 85031 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.9% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 85031?

To keep rent at or below 30% of gross income, you would need to earn at least $44,000/year (about $21/hour full-time) to afford the median rent of $1,107/mo in ZIP 85031. The local median household income is $70,412/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 85031?

Rent in ZIP 85031 has fallen 0.9% over the past year as of September 2026. It sits 3.7% below its high of $1,150 in July 2024.

How does ZIP 85031 compare to other ZIPs in Arizona?

ZIP 85031 is one of the more affordable among Arizona ZIP codes for rent, ranking #181 of 183 at $1,107/mo. Over the year to September 2026, rent in ZIP 85031 changed -0.9%, against a typical +1.6% across the 171 Arizona ZIP codes Zillow tracks.