ZIP 85016 - 860Z200US85016 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 85016, located in the heart of Phoenix, Arizona, this demographic and housing snapshot offers a clear picture of the area in 2023. With a diverse population, robust household income, and a dynamic housing market, this ZIP code presents unique opportunities and considerations for homebuyers, real estate investors, small-business owners, and analysts. Let’s break down the latest data to help you make informed decisions about living, investing, or operating in 85016.

Population & Households

ZIP 85016 is home to a population of 36,857 residents as of 2023, making it a moderately sized community within the Phoenix metro area. These residents are distributed across 18,723 households, reflecting a mix of family and individual living arrangements. With 21,363 total housing units in the area, there’s a notable presence of both occupied and vacant properties, which could signal opportunities for buyers or investors looking to enter the market. The ratio of households to population suggests an average household size of roughly two people, pointing to a blend of singles, couples, and smaller families in this ZIP code.

Income & Housing Costs

The median household income in ZIP 85016 stands at $85,085, indicating a relatively strong earning capacity among residents. This income level supports a housing market where the median house value is $508,400—a significant investment that reflects the area’s appeal and proximity to urban amenities in Phoenix. For renters, the median rent is $1,575 per month, which aligns with the income levels but may pose affordability challenges for some. These figures suggest that 85016 is a desirable location for those with stable incomes, while also highlighting the need for careful financial planning for prospective buyers or tenants.

Race & Ethnicity

The demographic makeup of ZIP 85016 showcases a diverse community with a rich cultural fabric. The racial and ethnic composition includes 58.28% White, 28.91% Hispanic, 4.85% Asian, and 3.24% Black residents, among others. This diversity can be a draw for businesses seeking a varied customer base or for families looking for an inclusive environment. Understanding the cultural dynamics of 85016 can help tailor real estate strategies, marketing efforts, or community engagement initiatives to resonate with the local population.

Key Facts

• Total population in ZIP 85016: 36,857 residents in 2023.
• Total households: 18,723, indicating a mix of living arrangements.
• Total housing units: 21,363, with potential for both occupancy and investment.
• Median household income: $85,085, supporting a strong local economy.
• Median house value: $508,400, reflecting a competitive real estate market.
• Median rent: $1,575, relevant for renters and property investors.
• Diverse population: 58.28% White, 28.91% Hispanic, 4.85% Asian, 3.24% Black.

What This Means for You

For homebuyers, ZIP 85016 offers a vibrant community with a median home value of $508,400, which suggests long-term value appreciation potential given the area’s income levels and urban location. However, ensure your budget aligns with this price point and consider the median rent of $1,575 if you’re exploring rental options before buying. For investors and real estate agents, the presence of over 21,000 housing units, combined with a vacancy gap, hints at opportunities for rental properties or flips—especially with a median income of $85,085 supporting tenant affordability. For small-business owners, the diverse population of 36,857 and cultural mix provide a broad customer base; tailor your offerings to appeal to varied demographics, particularly the significant Hispanic community at nearly 29%. For analysts, these metrics offer a baseline to track trends in housing demand, income growth, or demographic shifts in 85016 over time.

Run This Study Yourself

• Curious about other ZIP codes or deeper insights into 85016? Start by visiting ZipcodeGPT to access powerful demographic and housing analysis tools.
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• Use the insights to inform your homebuying, investment, or business decisions with confidence.