ZIP Code · AZ

ZIP 85123

Part of Arizona City, AZ

Pop. 10,003·Pinal County·158th most expensive ZIP in Arizona

Median rent (all units)

$1,317/mo

Year-over-Year

+1.1%

Month-over-Month

+0.2%

vs US Median

-$615

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 85123 · $1,317

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

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Medians by bedroom

Rent by unit size

Studio

$1,190

1 BR

$1,300

2 BR

$1,530

3 BR

$2,070

4 BR+

$2,350

Research median

$1,530/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

Past year vs. the rest of Arizona

Rent in ZIP 85123 changed +1.2% over the year to September 2026. Across the 171 Arizona ZIP codes Zillow tracks, the typical change was +1.6%.

Recent direction

Rent has risen 2 months in a row, and rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($69,137) is $1,728 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,530); a 3-bedroom is $2,070.

From Zillow's monthly rent index (ZORI) for ZIP 85123. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$15,804/yr

At $1,317/mo median

Location

CityArizona City

StateAZ

CountyPinal 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 (+1.1% YoY, +0.2% MoM), not inventory.

Demographics

Who lives here

ZIP 85123 (Arizona City, AZ) is majority owner-occupied, has a large retiree population, 11.6% of residents hold a bachelor's degree or higher.

Population

10,003

Median income

$69,137

Median age

45.9

Renters

21.7%

Age distribution

19.6%

20.6%

19.5%

14.6%

25.6%

Under 1819.6%

18–3420.6%

35–5419.5%

55–6414.6%

65+25.6%

Gender

51.1%

48.9%

Male51.1%

Female48.9%

Race & ethnicity

60.1%

37.8%

White60.1%

Black5.5%

Hispanic37.8%

Education (25+)

19.2%

31%

38.3%

No HS diploma19.2%

HS diploma31%

Some college38.3%

Bachelor's+11.6%

Housing tenure

78.3%

21.7%

Owner78.3%

Renter21.7%

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

2021 vs 2026

How ZIP 85123 in Arizona City, AZ has changed in 5 years

Income

$48,044 → $69,137

up 43.9%

Population

9,017 → 10,003

up 10.9%

Renter share

28.7% → 21.7%

-7.0 pts

Bachelor's+

11.6% → 11.6%

+0.0 pts

Median age

38.9 → 45.9

+7.0 yrs

Household income in the area moved from $48,044 to $69,137 across the same window, up 43.9% versus 2021. Census counts show ZIP 85123 in Arizona City, AZ adding about 986 residents over the five-year window, up 10.9% on net. The renter share has eased from 28.7% to 21.7%, with owner-occupied housing accounting for the remainder.

Community

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Local insights

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About renting in ZIP 85123

Last updated: October 17, 2026

ZIP code 85123 covers Arizona City, AZ. The median rent here is $1,317/mo as of October 2026. A 1-bedroom rents for a median of $1,300/mo. A 2-bedroom rents for a median of $1,530/mo.

At 23% of local median household income ($69,137/yr), ZIP 85123 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.1% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 85123?

To keep rent at or below 30% of gross income, you would need to earn at least $53,000/year (about $25/hour full-time) to afford the median rent of $1,317/mo in ZIP 85123. The local median household income is $69,137/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 85123?

Rent in ZIP 85123 has risen 1.1% over the past year.

How does ZIP 85123 compare to other ZIPs in Arizona?

ZIP 85123 is one of the more affordable among Arizona ZIP codes for rent, ranking #158 of 183 at $1,317/mo. Over the year to September 2026, rent in ZIP 85123 changed +1.2%, against a typical +1.6% across the 171 Arizona ZIP codes Zillow tracks.