Renters Local

Rental Insights for ZIP Code 85024 (Phoenix, AZ)

Housing Rentals in ZIP Code 85024 (Phoenix, AZ)

85024 ZIP Code in Arizona

Everything to Know About Rentals in the U.S. ZIP Code 85024

ZIP Code 85024 is primarily associated with Phoenix, AZ in Maricopa County. The median housing rent payment in this region of Arizona is $1,316 per month. About 30.7% of housing units in this Maricopa County ZIP Code are occupied by renters, while the region has an approximate rental vacancy rate of 4.7%.

The median rent in ZIP Code 85024 of $1,316 per month is 25% higher than the aggregate Arizona median monthly rent of $1,052, and is 24% higher than the $1,062 the median monthly rent in the U.S. overall. An estimated 56.7% of residents in ZIP Code 85024 pay between $1,000 and $1,499 per month for rent. That is 53% higher than in Arizona overall, in which 37.0% of total state residents pay between $1,000 and $1,499 per month for housing. Just 0.4% of renters in this Phoenix, AZ region pay less than $500 per month for rent.

ZIP Code 85024 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 85024

See the chart below for a comparison of monthly rental costs in ZIP Code 85024, Arizona, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 85024 along with those in the state of Arizona and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 85024

See the table below for the regional comparison of monthly rental costs.

Cost ZIP 85024 Arizona U.S.
Less than $500 0.4% 6.0% 9.4%
$500 to $999 12.0% 39.3% 36.2%
$1,000 to $1,499 56.7% 37.0% 30.0%
$1,500 to $1,999 26.0% 12.8% 14.0%
$2,000 to $2,499 1.7% 3.0% 5.6%
$2,500 to $2,999 1.4% 0.9% 2.4%
$3,000 or more 1.7% 0.9% 2.4%

Rent Cost vs. Income in ZIP Code 85024

Renters in ZIP Code 85024 use an estimated 28.75% of their income to cover their monthly rent payments. That is about 3% lower than in Arizona overall. The estimate for Arizona overall is 29.54% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 85024 renters use about 4% less of their income to cover rent expense. Household income figures for ZIP Code 85024 come in higher than in Arizona as a whole. The median annual household income in ZIP Code 85024 of $76,711 sits approximately 30% higher than the overall Arizona median income of $58,945 and approximately 22% higher than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 85024

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 85024, Arizona, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 85024 along with the same calculations in the state of Arizona and the U.S. overall. For example, what percentage of renters pay 15.0 to 19.9 percent of the monthly household income toward rent.

Rent as a Percentage of Income in ZIP Code 85024

See the table below for the regional comparison of monthly rent as a percentage of household income.

Rent Cost as % of Income ZIP 85024 Arizona U.S.
Less than 15.0 percent 11.8% 12.9% 13.1%
15.0 to 19.9 percent 14.7% 13.6% 12.9%
20.0 to 24.9 percent 17.6% 13.7% 12.9%
25.0 to 29.9 percent 10.0% 11.9% 11.6%
30.0 to 34.9 percent 12.2% 8.9% 9.1%
35.0 percent or more 33.7% 39.1% 40.5%

Household Income in ZIP Code 85024

See the table below for the regional comparison of annual household income in ZIP Code 85024.

Income ZIP 85024 Arizona U.S.
Less than $10,000 3.1% 6.4% 6.0%
$10,000 to $14,999 1.7% 4.0% 4.3%
$15,000 to $24,999 7.8% 9.2% 8.9%
$25,000 to $34,999 5.7% 9.5% 8.9%
$35,000 to $49,999 10.4% 13.5% 12.3%
$50,000 to $74,999 20.3% 18.6% 17.2%
$75,000 to $99,999 15.6% 12.9% 12.7%
$100,000 to $149,999 18.2% 14.3% 15.1%
$150,000 to $199,999 9.3% 5.8% 6.8%
$200,000 or more 7.9% 5.9% 7.7%

Household Income in ZIP Code 85024

See the chart below for a comparison of annual household income figures in ZIP Code 85024, Arizona, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 85024 alongside the same figures for the state of Arizona and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 85024

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 85024.

ZIP 85024 Arizona U.S.
Median Housing Rent $1,316 $1,052 $1,062
Renter-Occupied Housing Units 30.7% 35.6% 36.0%
Rental Vacancy Rate 4.7% 6.2% 6.0%
Average Size of Renter-Occupied Unit 2.28 2.65 2.49
Average # of Bedrooms Per Unit 2.84 2.74 2.75
Percent of Income Spent on Rent 28.75% 29.54% 29.83%
Per Capita Income $39,682 $30,694 $34,103
Median Household Income $93,641 $80,779 $88,607
Living Below the Poverty Line 4.5% 10.8% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 85024

In ZIP Code 85024 (Phoenix, AZ), and estimated 30.7% of housing units are occupied by renters. This region has an approximate rental vacany rate of 4.7%.

The per capita income in 85024 is estimated at $39,682, which goes along with an estimated median household income of $93,641. About 4.5% of residents in this Maricopa County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.28 occupants, while the units have an aggregate average size of 2.84 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 28.75% of their income on housing rental costs.

Rental FAQs for ZIP Code 85024

1

What is the median monthly rent in ZIP Code 85024?

Median rent for housing in ZIP Code 85024 in Maricopa County in Arizona is approximately $1,316 per month.
2

Is it expensive to rent in ZIP Code 85024?

Rent in ZIP Code 85024 is higher than average in the state of Arizona overall. The median monthly rent of $1,316 in ZIP Code 85024 is approximately 25% higher than the Arizona median of $1,052. Additionally, median rent in this Phoenix, AZ region ($1,316) is about 24% higher than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 85024?

High-priced rentals are more common in ZIP Code 85024 than in Arizona overall. The percentage of rentals in ZIP Code 85024 that cost $3,000 or more per month (1.7%) is about 89% higher than the Arizona rate of 0.9% that cost that much. Additionally, the overall U.S. rate of 2.4% paying $3,000 or more per month is about 29% higher than the aforementioned 85024 rate of 1.7%.
4

Are affordable rentals common in ZIP Code 85024?

Affordable rentals are less common in ZIP Code 85024 than in Arizona overall. The percentage of housing rentals in ZIP Code 85024 costing $999 or less per month (12.4%) is approximately 73% lower than the Arizona rate of 45.3% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 73% higher than the previously mentioned 85024 rate of 12.4%.
5

What is the most common cost range that rentals fall into in ZIP Code 85024?

The most common range for rental cost in ZIP Code 85024 is between $1,000 and $1,499 per month. About 56.7% of renters in 85024 pay in this range for monthly rent. In comparison, approximately 37.0% of renters in the state of Arizona fall in the between $1,000 and $1,499 range, and 30.0% of overall U.S. renters fall in this range.
6

Does ZIP Code 85024 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 85024 is lower than the rental vacancy rate in the state of Arizona overall. Rental vacancy of 4.7% in ZIP Code 85024 is about 24% lower than the Arizona rate of 6.2%. Looking more broadly, rental vacancy in this Phoenix, AZ region (4.7%) is an estimated 22% lower than the estimated rental vacancy rate of 6.0% in the U.S. overall.
7

What is the average household income in ZIP Code 85024? How does it compare to other Arizona regions?

Median household income in ZIP Code 85024 is higher than in the state of Arizona overall. Annual household income of $76,711 in ZIP Code 85024 is about 30% higher than the Arizona median of $58,945. Additionally, median household income in this Phoenix, AZ region ($76,711) is approximately 22% higher than median household income of $62,843 in the U.S. as a whole.
8

How much of their income do renters in ZIP Code 85024 spend on housing costs?

Renters in ZIP Code 85024 spend a lower amount of their income on rent costs than do renters in Arizona overall. Renters in ZIP Code 85024 spend an estimated 28.75% of their income on rent payments, which is about 3% lower than the overall Arizona estimated rate of 29.54%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 4% higher than the ZIP Code 85024 estimated rate of 28.75%.
9

Do renters in ZIP Code 85024 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 85024 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 85024 spending 30 percent or more of their income on rent costs (45.9%) is approximately 4% lower than the Arizona rate of 48% that spend that much. In addition, the overall U.S. rate of 49.6% paying 30 percent or more of their income on rent costs is about 7% higher than the aforementioned 85024 rate of 45.9%.
10

What is the average household size of renter-occupied units in ZIP Code 85024?

The average household size of renter-occupied units in ZIP Code 85024 is lower than in the state of Arizona overall. Annual household size of 2.28 in ZIP Code 85024 is about 14% lower than the Arizona median of 2.65. Additionally, median household size in this Phoenix, AZ region (2.28) is approximately 8% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Arizona ZIP Codes