85040 — Phoenix, AZ Home Values
Typical home value $319,917 as of August 2026 · 132nd of 149 in Phoenix-Mesa-Chandler, AZ
Blue: typical home value (Zillow ZHVI) in ZIP code 85040, August 2021 to August 2026. This page shows observed data only; no forecast.
How 85040 compares in the Phoenix-Mesa-Chandler, AZ area
ZIP code 85040 (Phoenix, AZ) has a typical home value of $319,917 as of August 2026, ranking 132nd of 149 ZIP codes tracked in the Phoenix-Mesa-Chandler, AZ area, more expensive than about 12% of ZIP codes in the metro. Prices here have moved -1.9% over the trailing 12 months. Over the past five years, the typical value in this ZIP code has changed +9.2%, from $292,967 in August 2021 to $319,917 in August 2026. Against observed rent, the typical home here sells for 14.5× the annual rent ($1,833/mo), a common way to gauge whether buying looks cheap relative to renting in this ZIP code.
Every figure above is observed Zillow data. Sialim's forecasting engine works at the metro level; see the Phoenix-Mesa-Chandler, AZ forecast for a modeled outlook, or browse the full ranked list of ZIP codes in Phoenix.
Population and demographics
ZIP code 85040 has a population of 33,325, per the Census Bureau's American Community Survey 5-year estimate. By race and ethnicity: 62.8% Hispanic or Latino, 17.2% Black or African American, 13.4% White, 2.2% Asian, 1.6% two or more races, 1.4% American Indian or Alaska Native, 0.8% another race, and 0.5% Native Hawaiian or Pacific Islander.
Nearby public schools
| School | Address | Distance |
|---|---|---|
| Martin Luther King Early Childhood Center | 4615 S 22ND ST, PHOENIX, AZ | 0.5 mi |
| Percy L Julian School | 2149 E CARVER DR, PHOENIX, AZ | 0.6 mi |
| EAGLE College Prep Phoenix South | 2450 W SOUTH MOUNTAIN AVE, PHOENIX, AZ | 0.7 mi |
Distance is straight-line from the ZIP code's center; driving distance will be longer. School attendance is set by district boundaries, not proximity. Confirm which school a specific address is zoned for with the local school district. Source: National Center for Education Statistics.
Frequently asked questions
What is the typical home value in ZIP code 85040?
$319,917 as of August 2026, the latest month Zillow has published observed data for.
Is 85040 an expensive ZIP code in the Phoenix-Mesa-Chandler, AZ area?
85040 ranks 132nd of 149 ZIP codes in the Phoenix-Mesa-Chandler, AZ area by typical home value, more expensive than about 12% of ZIP codes in the metro.
How much have home values in 85040 changed over the past year?
-1.9% over the trailing 12 months, from observed Zillow data.
Is it cheaper to buy or rent in ZIP code 85040?
The typical home price is 14.5× the observed annual rent in this ZIP code ($1,833/mo). Lower multiples favor buying over renting, all else equal.
What is the population of ZIP code 85040?
33,325, per the US Census Bureau's American Community Survey 5-year estimate.
What are the closest public schools to ZIP code 85040?
Martin Luther King Early Childhood Center (0.5 mi), Percy L Julian School (0.6 mi), EAGLE College Prep Phoenix South (0.7 mi), by straight-line distance from the ZIP code's center. School attendance is set by district boundaries, not proximity. Confirm assignment with the local school district.
Is this page showing a forecast for 85040?
No. Every number on this page is observed Zillow data as of August 2026, not a forecast. Sialim's forecasting engine runs at the metro level; see the Phoenix-Mesa-Chandler, AZ forecast for a modeled outlook.
ZIP-level values shown here are observed Zillow data, not forecasts. Sialim's forecasting engine works at the metro level today; ZIP-level forecasts are planned for Sialim Pro. Data © Zillow, via Zillow Research.