How much is a home worth in ZIP code 85204?

The typical home in 85204 is worth $394,101, based on the Zillow Home Value Index.

Are home values rising in 85204?

Home values in 85204 are down 1.6% over the past year, and up 4.1% a year over five years.

What is the typical rent in 85204?

A typical home in 85204 rents for about $1,452 a month, a gross rental yield of 4.4%.

What is the property tax rate in 85204?

The effective property tax rate in 85204 is 0.4% — roughly $1,602 a year on a typical home.

ZIP code 85204 has a population of 65,155 and a median household income of $72,216.

HousingHandbookReference data

…

U.S. ZIP Code · AZ85204

Maricopa County · Phoenix-Mesa-Chandler, AZ

Typical home value

$394,101^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -1.6%
5-year / yr: +4.1%
10-year / yr: +7.8%

Relative price

vs U.S.: +38.7%
vs metro: -11.6%
vs state: +1.3%

Price history

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

The typical home in 85204 is worth $394,101 — 11.6% below the Phoenix-Mesa-Chandler, AZ median. Over the past year, values have fallen 1.6%. Homes here rent for a typical $1,452 a month — a 4.4% gross rental yield. The effective property tax rate is 0.4%.

#Rent & investment

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

Monthly rent: $1,452^[2]
Gross yield: 4.4%^[2]
Cap rate: 2.7%^[2]

#Property tax

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

Effective tax rate: 0.4%^[3]
Typical annual tax: $1,602^[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: 65,155^[3]
Median household income: $72,216^[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: 19
Elementary: 12
Middle: 1
High: 3

Mesa High School
High · Grades 9–12 · Mesa Unified District (4235)
3,442 students
Sequoia Choice School Arizona Distance Learning School
Other · Grades K–12 · Edkey Inc. - Sequoia Choice Schools (4329)
1,713 students
Taylor Junior High School
Middle · Grades 7–9 · Mesa Unified District (4235)
869 students
Sequoia Charter School
Other · Grades K–12 · Edkey Inc. dba Sequoia Charter School (6446)
685 students
Keller Elementary School
Elementary · Grades PK–6 · Mesa Unified District (4235)
567 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 yield4.4%

Net yield (after ~40% expenses)2.7%

Annual rent$17,429

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$1,993

Loan principal$315,281

Down payment$78,820

Total interest paid$402,123

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 ratio1.69

Monthly cost to own$2,456

Monthly rent$1,452

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: 45th percentile^[1]
Rental yield: 35th percentile^[2]
Property tax: 28th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

10th for most populous in AZView list →

Frequently asked

How much is a home worth in ZIP code 85204?: The typical home in 85204 is worth $394,101, based on the Zillow Home Value Index.
Are home values rising in 85204?: Home values in 85204 are down 1.6% over the past year, and up 4.1% a year over five years.
What is the typical rent in 85204?: A typical home in 85204 rents for about $1,452 a month, a gross rental yield of 4.4%.
What is the property tax rate in 85204?: The effective property tax rate in 85204 is 0.4% — roughly $1,602 a year on a typical home.
Who lives in 85204?: ZIP code 85204 has a population of 65,155 and a median household income of $72,216.

#Comparable ZIPs

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

85353 vs 85204 →
Phoenix, AZ
Typical home
$396,015
Gross yield
5.9%
85119 vs 85204 →
Apache Junction, AZ
Typical home
$396,600
Gross yield
5.2%
85202
Mesa, AZ
Typical home
$398,390
Gross yield
4.1%
85323
Avondale, AZ
Typical home
$389,582
Gross yield
5.8%
85374
Surprise, AZ
Typical home
$388,610
Gross yield
5.2%
85042
Phoenix, AZ
Typical home
$387,068
Gross yield
4.9%

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Compare ZIPs

Pit ZIP 85204 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · AZ85204

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