ZIP 85040 Housing Market Report
Phoenix Metro
Report period: March 2026
85040 Monthly Market Update – March 2026
ZIP 85040 · Last updated Mar 11, 2026 · Data range Oct 2025 – Mar 2026
Executive Snapshot
Median Sale Price
$345,000
0.0%
Median DOM (Sales)
30
−3.2%
New Listings (Sales)
14
−39.1%
Median Rent
$1,792
+0.1%
Median DOM (Rental)
7
−30.0%
Total Rental Listings
196
+1.0%
Month-over-Month Movement
Median sale prices were flat. Days on market improved. Rents moved higher. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Condo (12 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 7 Beds ($930,000 median)
Sales Market Overview
Median Price
$345,000
0.0%
Median DOM
30
−3.2%
New Listings
14
−39.1%
Inventory
112
+7.7%
- Average Price: $411,057
- Median Price: $345,000
- Price Range: $110,000 – $2,000,000
- Price per Sq Ft (Avg/Median): $258 / $246
- Square Footage (Avg/Median): 1,469 / 1,318
- Square Footage Range: 720 – 3,072
- Days on Market (Avg/Median): 82 / 30
- Days on Market Range: 2 – 342
- New Listings: 14
- Total Listings: 112
Sales by Property Type
Condo
Avg/Median Price$210,000 / $210,000Range$210,000 – $210,000Price per Sq Ft$208 / $208Sq Ft1,008 / 1,008DOM12 / 12New0Total1
Land
Avg/Median Price$760,768 / $660,000Range$139,990 – $2,000,000Price per Sq Ft—Sq Ft—DOM150 / 175New0Total13
Manufactured
Avg/Median Price$247,700 / $247,700Range$247,700 – $247,700Price per Sq Ft$169 / $169Sq Ft1,470 / 1,470DOM18 / 18New0Total1
Multi-Family
Avg/Median Price$546,665 / $531,000Range$450,000 – $699,990Price per Sq Ft$195 / $180Sq Ft2,794 / 2,896DOM36 / 19New1Total6
Single Family
Avg/Median Price$389,330 / $360,000Range$110,000 – $950,000Price per Sq Ft$272 / $251Sq Ft1,521 / 1,422DOM80 / 32New9Total66
Townhouse
Avg/Median Price$268,596 / $285,000Range$145,000 – $419,990Price per Sq Ft$235 / $246Sq Ft1,138 / 1,079DOM75 / 29New4Total25
Sales by Bedroom Count
Studio
Avg:$119,998Median:$119,998Range:$119,998 – $119,998PSF:—Sq Ft:—DOM:33 / 33New:0Total:1
1 Beds
Avg:$272,500Median:$260,000Range:$260,000 – $285,000PSF:$267 / $212Sq Ft:1,054 / 884DOM:120 / 65New:0Total:2
2 Beds
Avg:$283,972Median:$279,000Range:$110,000 – $620,000PSF:$271 / $266Sq Ft:1,049 / 1,041DOM:75 / 30New:3Total:22
3 Beds
Avg:$359,227Median:$345,000Range:$145,000 – $950,000PSF:$247 / $246Sq Ft:1,483 / 1,352DOM:62 / 26New:7Total:51
4 Beds
Avg:$423,864Median:$405,000Range:$275,000 – $567,000PSF:$234 / $235Sq Ft:1,851 / 1,831DOM:123 / 76New:1Total:14
5 Beds
Avg:$452,575Median:$456,500Range:$405,000 – $478,900PSF:$217 / $216Sq Ft:2,086 / 2,116DOM:100 / 8New:2Total:4
6 Beds
Avg:$490,500Median:$450,000Range:$450,000 – $531,000PSF:$246 / $246Sq Ft:2,160 / 2,160DOM:68 / 13New:0Total:2
7 Beds
Avg:$930,000Median:$930,000Range:$930,000 – $930,000PSF:$1,079 / $1,079Sq Ft:862 / 862DOM:10 / 10New:1Total:1
8 Beds
Avg:$629,995Median:$560,000Range:$560,000 – $699,990PSF:$193 / $193Sq Ft:2,896 / 2,896DOM:24 / 19New:0Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $119,998 | $119,998 | $119,998 – $119,998 | — | — | 33 / 33 | 0 | 1 |
| 1 Beds | $272,500 | $260,000 | $260,000 – $285,000 | $267 / $212 | 1,054 / 884 | 120 / 65 | 0 | 2 |
| 2 Beds | $283,972 | $279,000 | $110,000 – $620,000 | $271 / $266 | 1,049 / 1,041 | 75 / 30 | 3 | 22 |
| 3 Beds | $359,227 | $345,000 | $145,000 – $950,000 | $247 / $246 | 1,483 / 1,352 | 62 / 26 | 7 | 51 |
| 4 Beds | $423,864 | $405,000 | $275,000 – $567,000 | $234 / $235 | 1,851 / 1,831 | 123 / 76 | 1 | 14 |
| 5 Beds | $452,575 | $456,500 | $405,000 – $478,900 | $217 / $216 | 2,086 / 2,116 | 100 / 8 | 2 | 4 |
| 6 Beds | $490,500 | $450,000 | $450,000 – $531,000 | $246 / $246 | 2,160 / 2,160 | 68 / 13 | 0 | 2 |
| 7 Beds | $930,000 | $930,000 | $930,000 – $930,000 | $1,079 / $1,079 | 862 / 862 | 10 / 10 | 1 | 1 |
| 8 Beds | $629,995 | $560,000 | $560,000 – $699,990 | $193 / $193 | 2,896 / 2,896 | 24 / 19 | 0 | 2 |
Rental Market Overview
Median Rent
$1,792
+0.1%
Median DOM
7
−30.0%
New Listings
31
Inventory
196
+1.0%
- Average Rent: $1,785
- Median Rent: $1,792
- Rent Range: $650 – $4,853
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,270 / 1,128
- Square Footage Range: 300 – 16,201
- Days on Market (Avg/Median): 41 / 7
- Days on Market Range: 1 – 345
- New Listings: 31
- Total Listings: 196
Rentals by Property Type
Apartment
$1,591
Median DOM: 1
Inventory: 113
MoM: +0.1%
Condo
—
Median DOM: —
Inventory: —
MoM: +0.1%
Single Family
$2,000
Median DOM: 31
Inventory: 60
MoM: +0.1%
Townhouse
$1,850
Median DOM: 45
Inventory: 22
MoM: +0.1%
Apartment
Avg/Median Rent$1,672 / $1,591Range$650 – $4,853Rent per Sq Ft$2 / $2Sq Ft1,129 / 1,037DOM33 / 1New23Total113
Multi-Family
Avg/Median Rent$2,050 / $2,050Range$2,050 – $2,050Rent per Sq Ft$1 / $1Sq Ft1,560 / 1,560DOM18 / 18New0Total1
Single Family
Avg/Median Rent$1,939 / $2,000Range$699 – $2,620Rent per Sq Ft$1 / $1Sq Ft1,508 / 1,431DOM45 / 31New7Total60
Townhouse
Avg/Median Rent$1,934 / $1,850Range$999 – $3,259Rent per Sq Ft$1 / $1Sq Ft1,339 / 1,319DOM64 / 45New1Total22
Rentals by Bedroom Count
Studio
Avg:$1,023Median:$950Range:$650 – $1,469PSF:$3 / $2Sq Ft:345 / 340DOM:215 / 127New:0Total:3
1 Beds
Avg:$1,395Median:$1,433Range:$699 – $1,825PSF:$2 / $2Sq Ft:824 / 726DOM:20 / 1New:5Total:38
2 Beds
Avg:$1,724Median:$1,699Range:$895 – $4,853PSF:$2 / $2Sq Ft:1,276 / 1,068DOM:40 / 1New:17Total:75
3 Beds
Avg:$2,009Median:$2,039Range:$1,345 – $2,495PSF:$1 / $1Sq Ft:1,384 / 1,357DOM:42 / 21New:7Total:56
4 Beds
Avg:$2,166Median:$2,100Range:$1,449 – $3,259PSF:$1 / $1Sq Ft:1,770 / 1,642DOM:54 / 42New:2Total:24
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,023 | $950 | $650 – $1,469 | $3 / $2 | 345 / 340 | 215 / 127 | 0 | 3 |
| 1 Beds | $1,395 | $1,433 | $699 – $1,825 | $2 / $2 | 824 / 726 | 20 / 1 | 5 | 38 |
| 2 Beds | $1,724 | $1,699 | $895 – $4,853 | $2 / $2 | 1,276 / 1,068 | 40 / 1 | 17 | 75 |
| 3 Beds | $2,009 | $2,039 | $1,345 – $2,495 | $1 / $1 | 1,384 / 1,357 | 42 / 21 | 7 | 56 |
| 4 Beds | $2,166 | $2,100 | $1,449 – $3,259 | $1 / $1 | 1,770 / 1,642 | 54 / 42 | 2 | 24 |
6-Month Sales Trend
Oct 2025
Median Price:$340,000Median DOM:43New:30Total:144
Nov 2025
Median Price:$338,000Median DOM:45New:16Total:139
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:$345,000Median DOM:30New:14Total:112
6-Month Rental Trend
Oct 2025
Median Rent:$1,650Median DOM:44New:23Total:114
Nov 2025
Median Rent:$1,690Median DOM:59New:18Total:113
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:$1,792Median DOM:7New:31Total:196
Key Market Takeaways
Median sale prices held steady this month while inventory expanded. Days on market declined, signaling improving buyer activity. Rental pricing increased, while total rental inventory increased.
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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