Real Estate Investing in Phoenix, Arizona (85029)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 85029 (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.
No major risk flags on the data we track.
What’s happening in Phoenix, AZ (85029)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 85029 Phoenix
Stepping back, ZIP 85029 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $359K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $359K asset, 85029 is the wrong submarket. If the plan prices in friction, the yield can still work.
Put differently, 85029 offers a low basis, the region around Phoenix has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A sturdy renter share of 45% in 85029 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 85029 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Phoenix:
Property Strategy for 85029
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $242,252 | $1,710 | 5.1% | +6.9% | $121,126 |
| 3BR | $363,244 | $2,280 | 4.5% | +7.2% | $121,081 |
| 4BR | $399,675 | $2,530 | 4.6% | +6.9% | $99,919 |
| 5BR | $435,383 | — | — | +6.7% | $87,077 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 85029 Compare?
| Metric | 85029 | Phoenix | Phoenix-Mesa-Chandler, AZ | Arizona |
|---|---|---|---|---|
| Home Value | $359,131 | $448,314 | N/A | $419,643 |
| 5-Year CAGR | 2.2% | 2.8% | N/A | 6.5% |
| Avg Rent | $1,236 | $1,672 | N/A | - |
| Cap Rate | 2.7% | 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 85029 (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 | $359,131 |
| Monthly Rent | $1,236 |
| Price-to-Rent | 24.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 4.9% |
📈 Home Appreciation
| 1-Year | -0.6% ▼ |
| 3-Year CAGR | -0.1% ▼ |
| 5-Year CAGR | +2.2% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 Rent Trends
| 1-Year | -6.2% ▼ |
| 3-Year CAGR | -1.0% ▼ |
| 5-Year CAGR | +0.2% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). 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 85029
Population: 49,433
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 85029
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
Frequently Asked Questions
Is Phoenix, AZ a good place for real estate investing?
Phoenix, AZ comes in at an investability rating of 3.0/5, with median home values near $359K and average rents around $1,236/mo. That combination puts it in the healthy tier for investor interest.
What is the average monthly rent in Phoenix, AZ?
Rent in Phoenix, AZ is around $1,236/mo. The resulting rent-to-value relationship with $359K pricing is reasonable for most investor models.
What approach is best for Phoenix, AZ real estate?
The best-fit strategy in Phoenix, AZ is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Are there empty rentals in Phoenix, AZ?
Vacancy in Phoenix, AZ is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,236/mo.
How strong is tenant demand in Phoenix, AZ?
Working renters make up the core of the Phoenix, AZ tenant base. The pool is reasonable for investors targeting long-term holds.
You know 85029 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 85029 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 85029 ranks in Phoenix-Mesa-Chandler, AZ
Every ZIP in this metro, ranked. Free.
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Community Ratings
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