Real Estate Investing in Phoenix, Arizona (85024)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 85024 (Phoenix, AZ)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Phoenix, AZ (85024)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 85024 Phoenix
This part of Maricopa County is not an easy win. The 85024 ZIP clocks in at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The 85024 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
ZIP 85024's metrics run below Maricopa County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Employment concentration in 85024 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
New investors are better served looking at Phoenix's stable or hybrid ZIPs before stepping into 85024. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Phoenix:
Property Strategy for 85024
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $350,959 | $2,100 | 4.3% | +7.8% | $175,480 |
| 3BR | $452,454 | $2,800 | 4.5% | +7.1% | $150,818 |
| 4BR | $619,820 | $3,110 | 3.6% | +7.8% | $154,955 |
| 5BR | $772,790 | — | — | +8.4% | $154,558 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 85024 Compare?
| Metric | 85024 | Phoenix | Phoenix-Mesa-Chandler, AZ | Arizona |
|---|---|---|---|---|
| Home Value | $487,380 | $448,314 | N/A | $419,643 |
| 5-Year CAGR | 2.9% | 2.8% | N/A | 6.5% |
| Avg Rent | $1,897 | $1,672 | N/A | - |
| Cap Rate | 3.0% | 3.0% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 85024 (Phoenix, AZ). Anonymous, moderated, never written by AI.
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Property managers serving Maricopa County
Manage rentals here? List your business →Active Renter Property Management offers rental property management services in Phoenix, Arizona, including a 6-month tenant guarantee. summary from their website
Arête Realty and Property Management, LLC offers property management services and real estate expertise in Glendale, Avondale, Chandler, Mesa, Gilbert, Sun City, Paradise Valley, Scottsdale, and Peori summary from their website
Arizona Community Management Services offers a comprehensive suite of services for Association leaders, including board training, financial management, and covenants enforcement, with decades of exper summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $487,380 |
| Monthly Rent | $1,897 |
| Price-to-Rent | 21.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.0% |
| 5-Year IRR | 6.0% |
📈 Home Appreciation
| 1-Year | +0.3% ▲ |
| 3-Year CAGR | +0.2% ▲ |
| 5-Year CAGR | +2.9% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 Rent Trends
| 1-Year | +4.3% ▲ |
| 3-Year CAGR | +0.7% ▲ |
| 5-Year CAGR | +1.8% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 85024
Population: 25,674
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 85024
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Sunset Canyon School
Quail Run Elementary School
Sky Crossing Elementary School
Desert Trails Elementary School
Fireside Elementary School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,199 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the average monthly rent in Phoenix, AZ?
Expect rents around $1,897/mo per month in Phoenix, AZ. With home values at $487K, the yield math works out to reasonable levels for rental investors.
Are there empty rentals in Phoenix, AZ?
Phoenix, AZ sees elevated vacancy, which is reasonable relative to the broader AZ rental market.
Is Phoenix, AZ a smart market for rental property?
With a 3.0/5 investability score, Phoenix, AZ ranks as a solid market for rental property investors. Median prices of $487K and rents of $1,897/mo drive the underlying numbers.
Is Phoenix, AZ a good market for FHA house hackers?
Phoenix, AZ is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $487K price point reasonable to enter.
Does Phoenix, AZ favor landlords or tenants?
Phoenix, AZ operates under AZ law, which is landlord-friendly overall for landlords. Expect steady treatment in typical lease and eviction cases.
You know 85024 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 85024 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 85024 ranks in Phoenix-Mesa-Chandler, AZ
Every ZIP in this metro, ranked. Free.
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