ZIP Code · AZ

ZIP 85045

Part of Phoenix, AZ

Pop. 7,600·Maricopa County·6th most expensive ZIP in Arizona

Median rent (all units)

$2,724/mo

Year-over-Year

Stable

Month-over-Month

-1.1%

vs US Median

+$792

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 85045 · $2,724

More expensive than 85% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$2,190

1 BR

$2,380

2 BR

$2,760

3 BR

$3,680

4 BR+

$4,080

Research median

$2,760/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

What a typical income covers

30% of the median household income ($153,583) is $3,840 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($3,680); a 4-bedroom is $4,080.

Rank in Phoenix

42nd cheapest of 43 ZIP codes in Phoenix.

Cheaper nearby

ZIP 85048, 3 miles away, rents for 33% less ($1,831/mo), about $10,700 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 85045. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$32,688/yr

At $2,724/mo median

Location

CityPhoenix

StateAZ

CountyMaricopa County

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (down 0.0% YoY), so renters have negotiating leverage.

Based on rent-price momentum (+0.0% YoY, -1.1% MoM), not inventory.

Demographics

Who lives here

ZIP 85045 (Phoenix, AZ) is majority owner-occupied, has a median income above the national average, 63.6% of residents hold a bachelor's degree or higher.

Population

7,600

Median income

$153,583

Median age

Renters

8.8%

Age distribution

22%

17.2%

30.4%

17.8%

12.6%

Under 1822%

18–3417.2%

35–5430.4%

55–6417.8%

65+12.6%

Gender

48.6%

51.4%

Male48.6%

Female51.4%

Race & ethnicity

58.7%

22.7%

White58.7%

Black4.8%

Hispanic22.7%

Asian9.5%

Other4.3%

Education (25+)

12.5%

22.5%

63.6%

No HS diploma1.4%

HS diploma12.5%

Some college22.5%

Bachelor's+63.6%

Housing tenure

91.2%

Owner91.2%

Renter8.8%

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

2021 vs 2026

How ZIP 85045 in Phoenix, AZ has changed in 5 years

Income

$141,615 → $153,583

up 8.5%

Population

6,645 → 7,600

up 14.4%

Renter share

10.1% → 8.8%

-1.3 pts

Bachelor's+

60.1% → 63.6%

+3.5 pts

Median age

43.9 → 45

+1.1 yrs

Median household income rose from $141,615 to $153,583 between 2021 and 2024, a 8.5% shift. The population has grown by 14.4% since 2021, moving from about 6,645 residents to roughly 7,600. College-educated residents now make up 63.6% of adults here, versus 60.1% in 2021.

Community

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Local insights

Tips for renters in ZIP 85045

About renting in ZIP 85045

Last updated: October 17, 2026

ZIP code 85045 covers Phoenix, AZ. The median rent here is $2,724/mo as of October 2026. A 1-bedroom rents for a median of $2,380/mo. A 2-bedroom rents for a median of $2,760/mo.

At 21% of local median household income ($153,583/yr), ZIP 85045 ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 85045?

To keep rent at or below 30% of gross income, you would need to earn at least $109,000/year (about $52/hour full-time) to afford the median rent of $2,724/mo in ZIP 85045. The local median household income is $153,583/yr, so the typical household meets that bar.