ZIP 85040 Housing Market Report
Phoenix Metro
Report period: May 2026
85040 Monthly Market Update – May 2026
ZIP 85040 · Last updated May 12, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$375,000
+0.0%
Median DOM (Sales)
31
−3.1%
New Listings (Sales)
21
−22.2%
Median Rent
$1,695
−2.1%
Median DOM (Rental)
1
0.0%
Total Rental Listings
234
−1.3%
Month-over-Month Movement
Median sale prices moved higher. Days on market improved. Rents softened. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Townhouse (13 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 7 Beds ($890,000 median)
Sales Market Overview
Median Price
$375,000
+0.0%
Median DOM
31
−3.1%
New Listings
21
−22.2%
Inventory
119
+6.3%
- Average Price: $406,116
- Median Price: $375,000
- Price Range: $35,000 – $2,000,000
- Price per Sq Ft (Avg/Median): $254 / $251
- Square Footage (Avg/Median): 1,546 / 1,416
- Square Footage Range: 609 – 3,400
- Days on Market (Avg/Median): 62 / 31
- Days on Market Range: 1 – 341
- New Listings: 21
- Total Listings: 119
Sales by Property Type
Condo
Avg/Median Price$199,900 / $199,900Range$199,900 – $199,900Price per Sq Ft$198 / $198Sq Ft1,008 / 1,008DOM30 / 30New0Total1
Land
Avg/Median Price$550,175 / $299,900Range$90,000 – $2,000,000Price per Sq Ft—Sq Ft—DOM93 / 26New3Total16
Manufactured
Avg/Median Price$124,950 / $35,000Range$35,000 – $214,900Price per Sq Ft$83 / $20Sq Ft1,602 / 1,470DOM47 / 14New0Total2
Multi-Family
Avg/Median Price$561,089 / $545,900Range$375,000 – $770,000Price per Sq Ft$189 / $180Sq Ft2,944 / 3,060DOM76 / 75New0Total9
Single Family
Avg/Median Price$395,595 / $375,000Range$165,000 – $950,000Price per Sq Ft$272 / $255Sq Ft1,521 / 1,416DOM62 / 31New6Total57
Townhouse
Avg/Median Price$337,546 / $329,000Range$164,900 – $494,990Price per Sq Ft$245 / $256Sq Ft1,354 / 1,224DOM47 / 13New12Total34
Sales by Bedroom Count
1 Beds
Avg:$212,500Median:$165,000Range:$165,000 – $260,000PSF:$242 / $212Sq Ft:916 / 609DOM:61 / 3New:0Total:2
2 Beds
Avg:$256,011Median:$280,000Range:$35,000 – $345,000PSF:$247 / $263Sq Ft:1,071 / 1,041DOM:77 / 33New:2Total:21
3 Beds
Avg:$386,630Median:$380,000Range:$165,000 – $950,000PSF:$254 / $255Sq Ft:1,539 / 1,545DOM:46 / 22New:14Total:53
4 Beds
Avg:$436,106Median:$435,000Range:$290,000 – $567,000PSF:$237 / $240Sq Ft:1,880 / 1,819DOM:67 / 31New:2Total:16
5 Beds
Avg:$451,267Median:$469,900Range:$405,000 – $478,900PSF:$217 / $222Sq Ft:2,076 / 2,116DOM:31 / 31New:0Total:3
6 Beds
Avg:$526,250Median:$429,000Range:$375,000 – $770,000PSF:$202 / $246Sq Ft:2,883 / 3,090DOM:74 / 32New:0Total:4
7 Beds
Avg:$890,000Median:$890,000Range:$890,000 – $890,000PSF:$1,032 / $1,032Sq Ft:862 / 862DOM:72 / 72New:0Total:1
8 Beds
Avg:$635,300Median:$675,000Range:$545,900 – $685,000PSF:$189 / $189Sq Ft:2,896 / 2,896DOM:80 / 81New:0Total:3
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $212,500 | $165,000 | $165,000 – $260,000 | $242 / $212 | 916 / 609 | 61 / 3 | 0 | 2 |
| 2 Beds | $256,011 | $280,000 | $35,000 – $345,000 | $247 / $263 | 1,071 / 1,041 | 77 / 33 | 2 | 21 |
| 3 Beds | $386,630 | $380,000 | $165,000 – $950,000 | $254 / $255 | 1,539 / 1,545 | 46 / 22 | 14 | 53 |
| 4 Beds | $436,106 | $435,000 | $290,000 – $567,000 | $237 / $240 | 1,880 / 1,819 | 67 / 31 | 2 | 16 |
| 5 Beds | $451,267 | $469,900 | $405,000 – $478,900 | $217 / $222 | 2,076 / 2,116 | 31 / 31 | 0 | 3 |
| 6 Beds | $526,250 | $429,000 | $375,000 – $770,000 | $202 / $246 | 2,883 / 3,090 | 74 / 32 | 0 | 4 |
| 7 Beds | $890,000 | $890,000 | $890,000 – $890,000 | $1,032 / $1,032 | 862 / 862 | 72 / 72 | 0 | 1 |
| 8 Beds | $635,300 | $675,000 | $545,900 – $685,000 | $189 / $189 | 2,896 / 2,896 | 80 / 81 | 0 | 3 |
Rental Market Overview
Median Rent
$1,695
−2.1%
Median DOM
1
0.0%
New Listings
61
Inventory
234
−1.3%
- Average Rent: $1,731
- Median Rent: $1,695
- Rent Range: $650 – $4,853
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,213 / 1,075
- Square Footage Range: 300 – 16,201
- Days on Market (Avg/Median): 33 / 1
- Days on Market Range: 1 – 365
- New Listings: 61
- Total Listings: 234
Rentals by Property Type
Apartment
$1,587
Median DOM: 1
Inventory: 147
MoM: −2.1%
Condo
$1,645
Median DOM: 2
Inventory: 9
MoM: −2.1%
Single Family
$2,095
Median DOM: 15
Inventory: 57
MoM: −2.1%
Townhouse
$1,700
Median DOM: 22
Inventory: 21
MoM: −2.1%
Apartment
Avg/Median Rent$1,651 / $1,587Range$650 – $4,853Rent per Sq Ft$2 / $2Sq Ft1,100 / 1,037DOM32 / 1New42Total147
Condo
Avg/Median Rent$1,449 / $1,645Range$805 – $1,850Rent per Sq Ft$1 / $1Sq Ft1,057 / 1,140DOM11 / 2New2Total9
Single Family
Avg/Median Rent$1,999 / $2,095Range$750 – $3,450Rent per Sq Ft$1 / $1Sq Ft1,537 / 1,503DOM38 / 15New11Total57
Townhouse
Avg/Median Rent$1,687 / $1,700Range$950 – $2,300Rent per Sq Ft$1 / $1Sq Ft1,202 / 1,198DOM40 / 22New6Total21
Rentals by Bedroom Count
Studio
Avg:$993Median:$950Range:$650 – $1,649PSF:$3 / $2Sq Ft:377 / 396DOM:183 / 183New:1Total:5
1 Beds
Avg:$1,396Median:$1,386Range:$750 – $1,911PSF:$2 / $2Sq Ft:809 / 905DOM:22 / 1New:15Total:48
2 Beds
Avg:$1,632Median:$1,589Range:$805 – $4,853PSF:$2 / $2Sq Ft:1,201 / 1,068DOM:32 / 1New:33Total:101
3 Beds
Avg:$2,024Median:$2,000Range:$1,195 – $2,938PSF:$2 / $1Sq Ft:1,376 / 1,367DOM:38 / 15New:10Total:62
4 Beds
Avg:$2,364Median:$2,300Range:$1,940 – $3,450PSF:$1 / $1Sq Ft:1,901 / 1,700DOM:32 / 19New:2Total:17
5 Beds
Avg:$2,550Median:$2,550Range:$2,550 – $2,550PSF:$1 / $1Sq Ft:3,662 / 3,662DOM:21 / 21New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $993 | $950 | $650 – $1,649 | $3 / $2 | 377 / 396 | 183 / 183 | 1 | 5 |
| 1 Beds | $1,396 | $1,386 | $750 – $1,911 | $2 / $2 | 809 / 905 | 22 / 1 | 15 | 48 |
| 2 Beds | $1,632 | $1,589 | $805 – $4,853 | $2 / $2 | 1,201 / 1,068 | 32 / 1 | 33 | 101 |
| 3 Beds | $2,024 | $2,000 | $1,195 – $2,938 | $2 / $1 | 1,376 / 1,367 | 38 / 15 | 10 | 62 |
| 4 Beds | $2,364 | $2,300 | $1,940 – $3,450 | $1 / $1 | 1,901 / 1,700 | 32 / 19 | 2 | 17 |
| 5 Beds | $2,550 | $2,550 | $2,550 – $2,550 | $1 / $1 | 3,662 / 3,662 | 21 / 21 | 0 | 1 |
6-Month Sales Trend
Dec 2025
Median Price:$349,000Median DOM:80New:14Total:107
Jan 2026
Median Price:$350,000Median DOM:49New:23Total:107
Feb 2026
Median Price:$345,000Median DOM:31New:23Total:104
Mar 2026
Median Price:$350,000Median DOM:32New:30Total:112
Apr 2026
Median Price:$374,900Median DOM:32New:27Total:112
May 2026
Median Price:$375,000Median DOM:31New:21Total:119
6-Month Rental Trend
Dec 2025
Median Rent:$1,695Median DOM:58New:26Total:115
Jan 2026
Median Rent:$1,775Median DOM:42New:34Total:131
Feb 2026
Median Rent:$1,790Median DOM:10New:100Total:194
Mar 2026
Median Rent:$1,762Median DOM:1New:101Total:225
Apr 2026
Median Rent:$1,731Median DOM:1New:111Total:237
May 2026
Median Rent:$1,695Median DOM:1New:61Total:234
Key Market Takeaways
Median sale prices moved higher this month while inventory expanded. Days on market declined, signaling improving buyer activity. Rental pricing eased, while total rental inventory tightened.
Market data is only valuable if you act on it. With pricing stabilizing and days on market shifting, this is the type of environment where disciplined investors find their edge.
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