ZIP Code · AZ

ZIP 85037

Part of Phoenix, AZ

Pop. 54,608·Maricopa County·94th most expensive ZIP in Arizona

Median rent (all units)

$1,723/mo

Year-over-Year

-0.1%

Month-over-Month

+0.5%

vs US Median

-$209

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 85037 · $1,723

More affordable than 56% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,500

1 BR

$1,630

2 BR

$1,890

3 BR

$2,520

4 BR+

$2,800

Research median

$1,890/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

December. Asking rents in ZIP 85037 usually run 1.3% below trend in December and 1.4% above it in June, about $47 a month apart at today's median. Based on 11 years of data.

Compared with the peak

Rent in ZIP 85037 is 1.4% below its high of $1,747 in November 2025, at $1,723 as of September 2026.

Past year vs. the rest of Arizona

Rent in ZIP 85037 changed -0.1% 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 85037 rose 50.1% while median household income rose 43.1% ($58,694 to $84,016). Rent outpaced income.

Since before the pandemic

Rent in ZIP 85037 is 42.4% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($84,016) is $2,100 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,890); a 3-bedroom is $2,520.

Rank in Phoenix

28th cheapest of 43 ZIP codes in Phoenix.

Cheaper nearby

ZIP 85033, 3 miles away, rents for 24% less ($1,316/mo), about $4,900 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 85037. 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

$20,676/yr

At $1,723/mo median

Location

CityPhoenix

StateAZ

CountyMaricopa County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (-0.1% YoY, +0.5% MoM), not inventory.

Demographics

Who lives here

ZIP 85037 (Phoenix, AZ) is majority owner-occupied, has a large share of families with children, 14.1% of residents hold a bachelor's degree or higher.

Population

54,608

Median income

$84,016

Median age

30.1

Renters

40.1%

Age distribution

28.9%

29%

25.2%

Under 1828.9%

18–3429%

35–5425.2%

55–649.5%

65+7.4%

Gender

51.6%

48.4%

Male51.6%

Female48.4%

Race & ethnicity

27.3%

66.1%

White27.3%

Black11.6%

Hispanic66.1%

Asian2.1%

Education (25+)

21.8%

34.3%

29.7%

14.1%

No HS diploma21.8%

HS diploma34.3%

Some college29.7%

Bachelor's+14.1%

Housing tenure

59.9%

40.1%

Owner59.9%

Renter40.1%

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

2021 vs 2026

How ZIP 85037 in Phoenix, AZ has changed in 5 years

Rent

$1,398 → $1,723

up 23.2%

Income

$65,733 → $84,016

up 27.8%

Population

52,061 → 54,608

up 4.9%

Renter share

38.7% → 40.1%

+1.4 pts

Bachelor's+

14.7% → 14.1%

-0.6 pts

Median age

30.6 → 30.1

-0.5 yrs

Rent in ZIP 85037 in Phoenix, AZ has climbed 23.2% since 2021, going from about $1,398 per month to roughly $1,723 today. Census figures show median household income at $84,016 today, compared with $65,733 five years earlier. Income growth outran rent by about 4.6 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 52,061 to 54,608 between 2021 and 2024, a 4.9% change. 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 85037

Last updated: October 17, 2026

ZIP code 85037 covers Phoenix, AZ. The median rent here is $1,723/mo as of October 2026. A 1-bedroom rents for a median of $1,630/mo. A 2-bedroom rents for a median of $1,890/mo.

At 25% of local median household income ($84,016/yr), ZIP 85037 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.1% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 85037?

To keep rent at or below 30% of gross income, you would need to earn at least $69,000/year (about $33/hour full-time) to afford the median rent of $1,723/mo in ZIP 85037. The local median household income is $84,016/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 85037?

Rent in ZIP 85037 has been roughly flat over the past year as of September 2026, a -0.1% change. It sits 1.4% below its high of $1,747 in November 2025.

When is the cheapest time to rent in ZIP 85037?

Asking rents in ZIP 85037 are usually lowest in December, about 1.3% below their yearly trend, and highest in June, about 1.4% above it. At today's median that is a gap of roughly $47 a month. This pattern comes from 11 years of Zillow rent data.

Has rent outpaced income in ZIP 85037?

Yes. From 2019 to 2024, rent in ZIP 85037 rose 50.1% while median household income rose 43.1%, from $58,694 to $84,016. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 85037 compare to other ZIPs in Arizona?

ZIP 85037 is in the middle among Arizona ZIP codes for rent, ranking #94 of 183 at $1,723/mo. Over the year to September 2026, rent in ZIP 85037 changed -0.1%, against a typical +1.6% across the 171 Arizona ZIP codes Zillow tracks.