Real Estate Investing in Phoenix, Arizona (85028)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 85028 (Phoenix, AZ)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.3% vacancy may signal weakening demand.
What’s happening in Phoenix, AZ (85028)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 85028 Phoenix
Not every below-median market is a bargain. Phoenix's 85028 ZIP comes in at signals that favor experienced operators who can absorb the risk $705K pricing implies.
For an experienced owner, 85028 can be a worth a close look for hunting ground — but the discount at $705K reflects genuine risk that outside investors often underestimate.
Within AZ, ZIP 85028 trails on several market indicators that neighboring Maricopa County submarkets outperform. The gap is real and sturdy enough to shape underwriting.
The demographic picture in 85028 includes headwinds that any investor should price in. Income distribution skews lower than Phoenix averages, and tenant stability requires active management.
seems to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Phoenix:
Property Strategy for 85028
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $489,380 | $2,200 | 3.2% | +7.2% | $244,690 |
| 3BR | $644,976 | $2,930 | 3.3% | +8.1% | $214,992 |
| 4BR | $795,801 | $3,250 | 2.9% | +8.8% | $198,950 |
| 5BR | $1,219,172 | — | — | +11.0% | $243,834 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 85028 Compare?
| Metric | 85028 | Phoenix | Phoenix-Mesa-Chandler, AZ | Arizona |
|---|---|---|---|---|
| Home Value | $705,326 | $448,314 | N/A | $419,643 |
| 5-Year CAGR | 4.1% | 2.8% | N/A | 6.5% |
| Avg Rent | $2,741 | $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 85028 (Phoenix, AZ). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 85028 (Phoenix, AZ)?
~25 seconds · no account needed · your report is anonymous
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 | $705,326 |
| Monthly Rent | $2,741 |
| Price-to-Rent | 21.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.0% |
| 5-Year IRR | 7.1% |
📈 Home Appreciation
| 1-Year | +3.1% ▲ |
| 3-Year CAGR | +2.1% ▲ |
| 5-Year CAGR | +4.1% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 Rent Trends
| 1-Year | +16.1% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
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 85028
Population: 18,952
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 85028
Schools in This ZIP Code
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
Can owner-occupants cash flow in Phoenix, AZ?
House hacking works a challenging in Phoenix, AZ. Rents of $2,741/mo against $705K acquisition make the strategy solid for owner-occupants.
Is Phoenix, AZ a smart market for rental property?
Phoenix, AZ scores 3.0/5 for investability. Home values sit at $705K and rents near $2,741/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Where do home prices stand in Phoenix, AZ?
The median home value in Phoenix, AZ is roughly $705K. That puts it reasonable relative to the AZ statewide average.
What is it like being a landlord in Phoenix, AZ?
For rental operators, Phoenix, AZ rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
What is the rental occupancy rate in Phoenix, AZ?
Vacancy in Phoenix, AZ is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $2,741/mo.
You know 85028 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 85028 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 85028 ranks in Phoenix-Mesa-Chandler, AZ
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 85028 (Phoenix)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 85028 (Phoenix, AZ).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.