ZIP 85040 - 860Z200US85040 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 85040, located in the Phoenix, Arizona area, this demographic and housing snapshot offers a clear picture of the community in 2023. With a diverse population, affordable housing relative to broader metro trends, and a unique cultural makeup, this area presents distinct opportunities and considerations for homebuyers, real estate investors, small-business owners, and analysts. Let’s break down the key metrics to help you make informed decisions.

Population & Households

ZIP 85040 is home to a population of 33,325 residents as of 2023, making it a moderately sized community within the Phoenix metropolitan region. These individuals are distributed across 11,259 households, reflecting a mix of family and individual living arrangements. The total number of housing units stands at 11,962, indicating a slight surplus of available homes compared to occupied households. This could suggest opportunities for buyers or renters looking to settle in the area, as well as potential inventory for investors to consider.

Income & Housing Costs

The median household income in ZIP 85040 is $57,890, which provides a solid benchmark for understanding the economic profile of the area. This income level supports a range of lifestyles and can guide businesses in targeting their customer base or pricing strategies. On the housing front, the median home value is $294,800, which is relatively accessible compared to higher-priced areas in the Phoenix metro. For renters, the median rent is $1,193 per month, offering a more affordable alternative to homeownership for those not ready to buy. These figures are critical for assessing affordability and potential returns on investment in this ZIP code.

Race & Ethnicity

The cultural fabric of ZIP 85040 is notably diverse, with a significant Hispanic population at 63.65% of residents. This is complemented by smaller but meaningful shares of Black (16.05%), White (13.13%), and Asian (2.72%) individuals. This diversity shapes the community’s identity, influencing local businesses, schools, and social dynamics. For homebuyers and business owners, this mix can translate into a vibrant, multicultural environment with opportunities to cater to varied needs and preferences.

Key Facts

• Total population: 33,325 residents in 2023, offering a substantial community base.
• Total households: 11,259, reflecting a mix of family and solo living setups.
• Total housing units: 11,962, with a slight surplus over occupied households.
• Median household income: $57,890, indicative of a working-to-middle-class economic profile.
• Median home value: $294,800, relatively affordable for the Phoenix metro area.
• Median rent: $1,193, providing a cost-effective option for non-buyers.
• Dominant ethnicity: Hispanic at 63.65%, shaping the area’s cultural landscape.

What This Means for You

For homebuyers, ZIP 85040 offers a chance to enter the housing market at a median value of $294,800, which is competitive within the Phoenix area. The slight surplus of housing units may also mean less competition for available properties. If you’re a renter, the median rent of $1,193 provides a budget-friendly option while you save for a future purchase.

For real estate investors and agents, the combination of a diverse population and moderate home values suggests potential for rental demand, especially given the area’s cultural richness and household income levels. The surplus of housing units could also point to opportunities for flipping or long-term rental investments.

For small-business owners, the demographic makeup—particularly the large Hispanic community—offers a clear target audience for culturally relevant products and services. With a median household income of $57,890, pricing strategies can be tailored to a working-to-middle-class customer base, while the population size of over 33,000 ensures a sizable local market.

For analysts, these metrics provide a foundation for deeper studies into economic trends, housing demand, and community needs in ZIP 85040, helping to inform broader regional strategies.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 85040? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
• Enter any ZIP code to access up-to-date metrics on population, income, housing costs, and more, tailored to your specific interests.
• Use the insights to make data-driven decisions for your next home purchase, investment, or business venture with confidence.