How much is a home worth in ZIP code 85016?

The typical home in 85016 is worth $526,949, based on the Zillow Home Value Index.

Are home values rising in 85016?

Home values in 85016 are up 0.3% over the past year, and up 4.1% a year over five years.

What is the typical rent in 85016?

A typical home in 85016 rents for about $1,647 a month, a gross rental yield of 3.7%.

What is the property tax rate in 85016?

The effective property tax rate in 85016 is 0.5% — roughly $2,877 a year on a typical home.

ZIP code 85016 has a population of 37,074 and a median household income of $87,850.

HousingHandbookReference data

…

U.S. ZIP Code · AZ85016

Maricopa County · Phoenix-Mesa-Chandler, AZ

Typical home value

$526,949^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +0.3%
5-year / yr: +4.1%
10-year / yr: +6.3%

Relative price

vs U.S.: +85.5%
vs metro: +18.2%
vs state: +35.4%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 85016 is worth $526,949 — 18.2% above the Phoenix-Mesa-Chandler, AZ median. Over the past year, values have risen 0.3%. Homes here rent for a typical $1,647 a month — a 3.7% gross rental yield. The effective property tax rate is 0.5%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,647^[2]
Gross yield: 3.7%^[2]
Cap rate: 2.2%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.5%^[3]
Typical annual tax: $2,877^[3]

#Climate risk

FEMA National Risk Index ratings for Maricopa County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Very High^[4]
Riverine flood: Very High
Coastal flood: Not Applicable
Wildfire: Relatively High
Drought: Relatively High
Heat wave: Very High
Hurricane: Very Low
Tornado: Relatively Moderate
Earthquake: Relatively Moderate
Winter weather: Relatively Low

#Who lives here

Population: 37,074^[3]
Median household income: $87,850^[3]

#Migration

Household moves in and out of Maricopa County over a year, from IRS tax-return data.

Net migration: +5,261^[5]
Moved in: 91,952
Moved out: 86,691

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 7
Elementary: 5
Middle: 1
High: 1

Camelback High School
High · Grades 9–12 · Phoenix Union High School District (4286)
2,191 students
Madison #1 Elementary School
Middle · Grades 5–8 · Madison Elementary District (4270)
886 students
Madison Camelview Elementary
Elementary · Grades PK–4 · Madison Elementary District (4270)
565 students
Villa Montessori - Phoenix Campus
Elementary · Grades K–8 · Villa Montessori Charter School (4339)
497 students
Loma Linda Elementary School
Elementary · Grades PK–8 · Creighton Elementary District (4263)
455 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield3.7%

Net yield (after ~40% expenses)2.2%

Annual rent$19,759

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,665

Loan principal$421,559

Down payment$105,390

Total interest paid$537,676

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio2.03

Monthly cost to own$3,345

Monthly rent$1,647

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 42nd percentile^[1]
Rental yield: 15th percentile^[2]
Property tax: 85th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 85016?: The typical home in 85016 is worth $526,949, based on the Zillow Home Value Index.
Are home values rising in 85016?: Home values in 85016 are up 0.3% over the past year, and up 4.1% a year over five years.
What is the typical rent in 85016?: A typical home in 85016 rents for about $1,647 a month, a gross rental yield of 3.7%.
What is the property tax rate in 85016?: The effective property tax rate in 85016 is 0.5% — roughly $2,877 a year on a typical home.
Who lives in 85016?: ZIP code 85016 has a population of 37,074 and a median household income of $87,850.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

85251 vs 85016 →
Scottsdale, AZ
Typical home
$525,982
Gross yield
4.4%
85233 vs 85016 →
Gilbert, AZ
Typical home
$525,808
Gross yield
4.6%
85623
Mammoth, AZ
Typical home
$529,972
Gross yield
—
85340
Buckeye, AZ
Typical home
$522,367
Gross yield
4.8%
85361
Surprise, AZ
Typical home
$518,187
Gross yield
5.3%
85658
Marana, AZ
Typical home
$536,388
Gross yield
4.7%

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#Jump to section

U.S. ZIP Code · AZ85016

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