Market Snapshot
- Median listing price
- $368K
- Median rent
- $1,195/mo
- Days on market
- 291 days
- Gross rental yield
- 3.90%
- STR vs LTR
- $1,401/mo STR · $1,195/mo LTR
The median listing price in Phoenix, AZ ZIP 85051 is $368,000 as of June 2026.
The median market rent in Phoenix, AZ ZIP 85051 is $1,195/month as of June 2026.
The median days on market in Phoenix, AZ ZIP 85051 is 291 days as of June 2026. The market is currently neutral.
At a median list price of $368,000 and a median rent of $1,195/month, the gross rental yield in Phoenix, AZ ZIP 85051 is 3.90% as of June 2026.
In Phoenix, AZ ZIP 85051, median Airbnb revenue is $1,401/month compared to median long-term rent of $1,195/month as of June 2026.
Phoenix, AZ 85051 Real Estate Market Report
ZIP Code: 85051
Report Date: June 2026
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Key Findings
- The neighborhood's primary indicator, median sold price, is 313,000, which establishes recent transaction-level value and, alongside a higher median listing price of 368,000, suggests pricing friction between asking and realized values.
- Median days on market is 291, indicating notably slower sales velocity and extended listing durations that may indicate reduced liquidity rather than rapid turnover.
- Market temperature is reported as neutral with price year-over-year trend flat, while sampled supply appears to reflect elevated inventory relative to sales activity; together these signals suggest a balanced-to-cautionary market where sellers may need to manage expectations and buyers have more negotiation leverage — neutral market conditions.
- Median market rent is 1,195 and median price per square foot is 210; with rent year-over-year trend down and interest rate pressure elevated, financing costs and softer rental growth increase caution on near-term investment cash-flow assumptions.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.50% rate, 0.3% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 6/1/2026
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