ZIP Code · AZ

ZIP 85032

Part of Phoenix, AZ

Pop. 70,839·Maricopa County·119th most expensive ZIP in Arizona

Median rent (all units)

$1,597/mo

Year-over-Year

+3.7%

Month-over-Month

+0.8%

vs US Median

-$335

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 85032 · $1,597

More affordable than 66% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,390

1 BR

$1,510

2 BR

$1,750

3 BR

$2,330

4 BR+

$2,590

Research median

$1,750/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

February. Asking rents in ZIP 85032 usually run 0.6% below trend in February and 0.6% above it in May, about $19 a month apart at today's median. Based on 11 years of data.

Compared with the peak

Rent in ZIP 85032 is at its highest level since Zillow's records here began in January 2015.

Past year vs. the rest of Arizona

Rent in ZIP 85032 changed +3.7% 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 85032 rose 48.1% while median household income rose 36.6% ($57,570 to $78,643). Rent outpaced income.

Since before the pandemic

Rent in ZIP 85032 is 41.6% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has risen 8 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($78,643) is $1,966 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,750); a 3-bedroom is $2,330.

Rank in Phoenix

24th cheapest of 43 ZIP codes in Phoenix.

Cheaper nearby

ZIP 85022, 3 miles away, rents for 11% less ($1,421/mo), about $2,100 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 85032. 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

$19,164/yr

At $1,597/mo median

Location

CityPhoenix

StateAZ

CountyMaricopa County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (3.7% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+3.7% YoY, +0.8% MoM), not inventory.

Demographics

Who lives here

ZIP 85032 (Phoenix, AZ) is majority owner-occupied, 35.1% of residents hold a bachelor's degree or higher.

Population

70,839

Median income

$78,643

Median age

Renters

42.2%

Age distribution

18.9%

26.4%

12.5%

15.8%

Under 1818.9%

18–3426.4%

35–5426.4%

55–6412.5%

65+15.8%

Gender

49.2%

50.8%

Male49.2%

Female50.8%

Race & ethnicity

59.1%

31.8%

White59.1%

Black3.4%

Hispanic31.8%

Asian4.3%

Other1.3%

Education (25+)

22.2%

31.4%

35.1%

No HS diploma11.3%

HS diploma22.2%

Some college31.4%

Bachelor's+35.1%

Housing tenure

57.8%

42.2%

Owner57.8%

Renter42.2%

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

2021 vs 2026

How ZIP 85032 in Phoenix, AZ has changed in 5 years

Rent

$1,259 → $1,597

up 26.8%

Income

$62,805 → $78,643

up 25.2%

Population

69,352 → 70,839

up 2.1%

Renter share

43% → 42.2%

-0.8 pts

Bachelor's+

32.4% → 35.1%

+2.7 pts

Median age

37.5 → 38

+0.5 yrs

Five years ago, renters in ZIP 85032 in Phoenix, AZ paid around $1,259 a month. That figure now sits near $1,597, up 26.8% from the 2021 baseline. Census figures show median household income at $78,643 today, compared with $62,805 five years earlier. Census counts show ZIP 85032 in Phoenix, AZ adding about 1,487 residents over the five-year window, up 2.1% on net. Bachelor's-degree-or-higher attainment moved from 32.4% to 35.1% across the same window. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

Community

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About renting in ZIP 85032

Last updated: October 17, 2026

ZIP code 85032 covers Phoenix, AZ. The median rent here is $1,597/mo as of October 2026. A 1-bedroom rents for a median of $1,510/mo. A 2-bedroom rents for a median of $1,750/mo.

At 24% of local median household income ($78,643/yr), ZIP 85032 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 85032?

To keep rent at or below 30% of gross income, you would need to earn at least $64,000/year (about $31/hour full-time) to afford the median rent of $1,597/mo in ZIP 85032. The local median household income is $78,643/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 85032?

Rent in ZIP 85032 has risen 3.7% over the past year as of September 2026. That is the highest level since Zillow's records here began in January 2015.

When is the cheapest time to rent in ZIP 85032?

Asking rents in ZIP 85032 are usually lowest in February, about 0.6% below their yearly trend, and highest in May, about 0.6% above it. At today's median that is a gap of roughly $19 a month. This pattern comes from 11 years of Zillow rent data.

Has rent outpaced income in ZIP 85032?

Yes. From 2019 to 2024, rent in ZIP 85032 rose 48.1% while median household income rose 36.6%, from $57,570 to $78,643. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 85032 compare to other ZIPs in Arizona?

ZIP 85032 is in the middle among Arizona ZIP codes for rent, ranking #119 of 183 at $1,597/mo. Over the year to September 2026, rent in ZIP 85032 changed +3.7%, against a typical +1.6% across the 171 Arizona ZIP codes Zillow tracks.