How much is a home worth in ZIP code 85340?

The typical home in 85340 is worth $522,367, based on the Zillow Home Value Index.

Are home values rising in 85340?

Home values in 85340 are down 0.1% over the past year, and up 4.5% a year over five years.

What is the typical rent in 85340?

A typical home in 85340 rents for about $2,083 a month, a gross rental yield of 4.8%.

What is the property tax rate in 85340?

The effective property tax rate in 85340 is 0.4% — roughly $2,219 a year on a typical home.

ZIP code 85340 has a population of 40,919 and a median household income of $122,323.

HousingHandbookReference data

…

U.S. ZIP Code · AZ85340

Maricopa County · Phoenix-Mesa-Chandler, AZ

Typical home value

$522,367^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -0.1%
5-year / yr: +4.5%
10-year / yr: +6.6%

Relative price

vs U.S.: +83.9%
vs metro: +17.1%
vs state: +34.3%

Price history

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

The typical home in 85340 is worth $522,367 — 17.1% above the Phoenix-Mesa-Chandler, AZ median. Over the past year, values have fallen 0.1%. Homes here rent for a typical $2,083 a month — a 4.8% 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: $2,083^[2]
Gross yield: 4.8%^[2]
Cap rate: 2.9%^[2]

#Property tax

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

Effective tax rate: 0.4%^[3]
Typical annual tax: $2,219^[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: 40,919^[3]
Median household income: $122,323^[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: 10
Elementary: 6
Middle: 3
High: 0

Wigwam Creek Middle School
Middle · Grades 5–8 · Litchfield Elementary District (4281)
718 students
Litchfield Elementary School
Elementary · Grades PK–8 · Litchfield Elementary District (4281)
689 students
Dreaming Summit Elementary
Elementary · Grades PK–6 · Litchfield Elementary District (4281)
671 students
Barbara B. Robey Elementary School
Elementary · Grades PK–5 · Litchfield Elementary District (4281)
561 students
Scott L Libby Elementary School
Elementary · Grades PK–6 · Litchfield Elementary District (4281)
558 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 yield4.8%

Net yield (after ~40% expenses)2.9%

Annual rent$24,995

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$2,641

Loan principal$417,893

Down payment$104,473

Total interest paid$533,000

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 ratio1.56

Monthly cost to own$3,260

Monthly rent$2,083

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: 64th percentile^[1]
Rental yield: 53rd percentile^[2]
Property tax: 37th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 85340?: The typical home in 85340 is worth $522,367, based on the Zillow Home Value Index.
Are home values rising in 85340?: Home values in 85340 are down 0.1% over the past year, and up 4.5% a year over five years.
What is the typical rent in 85340?: A typical home in 85340 rents for about $2,083 a month, a gross rental yield of 4.8%.
What is the property tax rate in 85340?: The effective property tax rate in 85340 is 0.4% — roughly $2,219 a year on a typical home.
Who lives in 85340?: ZIP code 85340 has a population of 40,919 and a median household income of $122,323.

#Comparable ZIPs

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

85233 vs 85340 →
Gilbert, AZ
Typical home
$525,808
Gross yield
4.6%
85251 vs 85340 →
Scottsdale, AZ
Typical home
$525,982
Gross yield
4.4%
85361
Surprise, AZ
Typical home
$518,187
Gross yield
5.3%
85016
Phoenix, AZ
Typical home
$526,949
Gross yield
3.7%
85390
Wickenburg, AZ
Typical home
$516,891
Gross yield
—
85623
Mammoth, AZ
Typical home
$529,972
Gross yield
—

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#Jump to section

U.S. ZIP Code · AZ85340

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