Your complete guide to the Metrocenter corridor — north-central Phoenix's most affordable and rapidly regenerating ZIP code. Home prices, schools, investment analysis, and neighborhood insights from a local expert.
Phoenix ZIP code 85029 sits in the north-central heart of the city, roughly bounded by Peoria Avenue to the south, Thunderbird Road to the north, 35th Avenue to the west, and 7th Street/Cave Creek Road to the east. It is one of Phoenix's transitional ZIP codes — a mix of established mid-century and late 20th-century neighborhoods that are experiencing fresh momentum driven by major commercial redevelopment along its core arterials.
The neighborhood's identity has long been tied to the Metrocenter area — historically one of the Valley's most prominent regional shopping malls, which opened in 1973. Like many regional malls, Metrocenter struggled through the 2010s, but the site is now at the center of a City of Phoenix-backed mixed-use revitalization that is already reshaping the commercial landscape along Dunlap and Peoria avenues. New apartment communities, a renovated entertainment district, and planned retail concepts are replacing the empty anchor boxes of the old mall.
For residential buyers, 85029 offers something increasingly rare in metro Phoenix: affordable single-family homes with full lots, multiple bedrooms, and no HOA — within 15 minutes of downtown Phoenix via I-17. The housing stock varies from modest 1,100 sq ft homes to spacious 1,800+ sq ft ranch-style homes, often on 7,000–9,000 sq ft lots with mature landscaping and pools.
Demographics in 85029 are diverse and working-class to middle-class, with a strong family presence. The area has benefited from decades of community investment by long-term residents, and new buyers are being drawn in by the value proposition relative to neighboring ZIPs. Renters make up a meaningful share of the population, making it an active investor market as well.
Key Location Context: Phoenix 85029 straddles the I-17 freeway, which provides express access south to downtown Phoenix (15 min), north to Deer Valley Airport and the 101 Loop (12 min), and connects to the I-10 interchange for west valley access. Peoria Avenue and Dunlap Avenue serve as the main east-west commercial arteries. Northern neighbors include 85053 and 85022; to the south lies 85021 and 85051.
The 85029 ZIP code contains several loosely named residential pockets that locals use to describe distinct micro-neighborhoods:
The housing inventory in 85029 is dominated by single-family detached homes built between 1965 and 1995. This era of construction means buyers will encounter homes with specific characteristics — and specific inspection considerations — that differ sharply from newer master-planned community homes in the far north or east valleys.
Pre-1975 Homes (approximately 25% of stock): The oldest homes in 85029 typically feature concrete block construction, flat or low-slope roofs, smaller floor plans (900–1,300 sq ft), and minimal insulation by modern standards. These homes were built for the Phoenix desert climate of the era and often lack modern energy efficiency. However, they sit on the most generous lots (8,000–10,000+ sq ft) and offer the lowest entry prices, often $265K–$310K for properties needing updating.
1975–1990 Homes (approximately 45% of stock): The majority of 85029's housing was built during the Valley's post-Sunbelt-boom growth period. These homes range from 1,100 to 1,700 sq ft, typically feature stucco-over-frame construction, tile roofs (some original flat or shingle in need of replacement), and 2-car garages. Many have been updated by long-term owners with new kitchens, flooring, and HVAC systems. Price range: $300K–$375K depending on condition.
1990–2005 Homes (approximately 25% of stock): The newer tier of 85029 homes, concentrated in the northern and eastern sections, features better energy efficiency, vaulted ceilings, and larger floor plans (1,500–2,100 sq ft). These homes compete favorably with newer homes on a value-per-square-foot basis. Price range: $355K–$430K.
Post-2005 (less than 5%): Very limited new single-family construction exists in 85029 due to the built-out nature of the area. New residential development has primarily taken the form of multifamily (apartment communities) around the Metrocenter corridor.
When buying in Phoenix 85029, several Arizona-specific and era-specific inspection items deserve attention:
| Housing Tier | Size Range | Build Era | Price Range (2026) | Lot Size | HOA |
|---|---|---|---|---|---|
| Entry-Level / Fixer | 900–1,300 sq ft | Pre-1975 | $265,000–$310,000 | 7,000–10,000 sq ft | None typical |
| Mid-Range / Updated | 1,100–1,600 sq ft | 1975–1990 | $300,000–$375,000 | 6,500–9,000 sq ft | None or $50–$100 |
| Upper Mid / Newer | 1,500–2,100 sq ft | 1990–2005 | $355,000–$430,000 | 5,500–8,000 sq ft | $80–$150/mo |
| Premium / Move-In Ready | 1,600–2,200 sq ft | 1990–2005, fully remodeled | $400,000–$465,000 | 7,000+ sq ft | None–$150 |
| Investment / Rental | 1,000–1,500 sq ft | 1975–1995 | $295,000–$360,000 | 6,000–8,500 sq ft | Usually none |
Education is a top priority for families considering 85029, and the good news is that most of the ZIP falls within Deer Valley Unified School District (DVUSD), which is consistently rated as one of the better large suburban districts in the Phoenix metro. A small sliver of the southern/eastern portion may fall under Washington Elementary School District for K–8 grades.
DVUSD serves a broad swath of north Phoenix and Anthem, encompassing over 40,000 students across 55+ schools. The district is known for strong academic programming, well-maintained facilities, and a wide range of extracurricular options. For families in 85029, key DVUSD schools include:
PK–8 · DVUSD · Grades offered through 8th grade
Located in the heart of 85029; one of the more established elementary campuses in the area with consistent academic performance.
K–8 · DVUSD · Strong arts and STEM programming
Serves the northern sections of 85029. Parent reviews frequently cite strong teacher engagement and a welcoming school culture.
6–8 · DVUSD · Feeder school for Deer Valley High
Located just north of 85029; serves students transitioning from elementary with a comprehensive middle school curriculum.
9–12 · DVUSD · ~2,400 students
One of the Valley's most established high schools; home of the Skyhawks. Offers AP courses, career technical education (CTE), and strong athletics programs including football, baseball, and cross-country.
9–12 · DVUSD · ~1,900 students
Serves the eastern sections of 85029. Known for its aviation and JROTC programs, reflecting the proximity to Deer Valley Airport. Solid academic track record with multiple AP offerings.
School District Tip: Always verify the specific school assignment for any property in 85029 — the district boundaries within the ZIP don't align perfectly with ZIP code lines. The DVUSD website offers an address lookup tool. School assignment can vary by a few blocks and it matters for families prioritizing specific campuses.
Families seeking alternatives to traditional public schools within or near Phoenix 85029 have several options:
How does Phoenix 85029 stack up against the surrounding north-central and north Phoenix ZIP codes? This comparison helps buyers and investors understand where 85029 fits in the local value spectrum.
| ZIP Code | Area | Median Price (2026) | Avg Price/Sq Ft | Primary Era | School District | Character |
|---|---|---|---|---|---|---|
| 85029 | Metrocenter / North Phoenix | $345,000 | $195–$230 | 1970s–1990s | DVUSD | Transitional, value |
| 85051 | Moon Valley adjacent / NW | $335,000 | $185–$215 | 1970s–1985 | Wash. Elem / DVUSD | Established, affordable |
| 85053 | North Mountain Village | $355,000 | $200–$235 | 1975–1995 | DVUSD | Family-oriented |
| 85022 | North Phoenix / Moon Valley | $420,000 | $225–$260 | 1980s–2000s | DVUSD / PVUSD | Upscale, golf communities |
| 85021 | North Central Phoenix | $365,000 | $210–$245 | 1960s–1980s | Wash. Elem / DPUSD | Redevelopment zone |
| 85027 | North Phoenix / Bell Rd | $360,000 | $200–$235 | 1980s–2000s | DVUSD / CCUSD | Suburban, maturing |
| 85023 | Deer Valley | $395,000 | $215–$250 | 1980s–1995 | DVUSD | Established suburban |
The data shows 85029 as one of the most affordable entry points in north Phoenix, trailing only 85051 among nearby ZIPs. The Metrocenter redevelopment effect is expected to gradually close this price gap over the next 3–7 years, making 85029 an early-mover opportunity for investors and first-time buyers.
Phoenix 85029 represents one of the most compelling investment propositions in the metro for buyers who can see past the area's older housing stock and appreciate the macro tailwinds at play. The combination of redevelopment momentum, strong rental demand, and below-market pricing creates an attractive risk/reward setup.
The Phoenix 85029 rental market benefits from the area's position as an affordable residential option for workers in multiple employment corridors:
Property: 3BR/2BA, 1,250 sq ft, 1985 build, updated kitchen/HVAC
Purchase Price: $340,000
Down (25%): $85,000
Monthly Rent: $1,875
Annual Gross Rent: $22,500
Gross Yield: 6.6%
Annual Expenses (~35%): $7,875
Net Annual Income: ~$14,625
Cash-on-Cash (est.): ~8.4%
Monthly Cash Flow (est.): +$320–$480
Phoenix 85029 offers active fix-and-flip opportunity due to the volume of distressed or cosmetically dated homes. Typical flip targets in 85029:
Hard money lending is readily available in metro Phoenix for flip projects (10–12% interest, 1–2 points), and DSCR loans are available for hold-and-rent strategies (typically 20–25% down, no personal income verification). Ryan Moxley works with multiple preferred lenders who specialize in investment transactions in Phoenix.
| Investment Strategy | Buy Range | Target Rent / Sale Price | Gross Yield / Profit | Best Candidate Property | Key Risk |
|---|---|---|---|---|---|
| Buy & Hold (Long-Term) | $310K–$370K | $1,750–$2,050/mo | 6.5%–8.0% gross | 1985–1995, updated, 3BD | HVAC / roof age |
| Fix & Flip | $280K–$325K | $390K–$440K ARV | $40K–$70K gross | Dated kitchen/bath, good bones | Renovation overrun |
| House Hack (Owner-Occ) | $305K–$355K | Rent 1–2 rooms $700–$900 | Offset $500–$900/mo | 3–4BD with separate bath | Tenant screening |
| Short-Term Rental (STR) | $330K–$400K | $2,200–$3,200/mo gross | 8%–12% gross | Pool home, near attractions | HOA restrictions, seasonality |
| DSCR Loan Rental | $315K–$380K | DSCR ≥1.25x required | 6.5%–8.5% gross | Turnkey 3BD/2BA | Rate environment |
Perhaps the single biggest catalyst for Phoenix 85029's real estate trajectory is the ongoing redevelopment of the Metrocenter Mall site. Understanding this project is essential for anyone considering buying, selling, or investing in this ZIP code.
Metrocenter opened in 1973 as one of the largest shopping malls in the United States at the time. For two decades, it was the premier retail destination for north Phoenix and the west valley, anchored by Sears, Macy's, and Dillard's. The mall's decline accelerated in the 2000s as Scottsdale Fashion Square, Desert Ridge Marketplace, and online retail diverted shoppers. By 2016, the mall was functionally dead, leaving behind a massive 1.4-million square foot shell that sat vacant in the heart of 85029 for years.
The City of Phoenix has been working with developers and community stakeholders since 2020 to transform the Metrocenter site into a vibrant mixed-use district. Key elements of the approved redevelopment plan include:
Investment Implication: Areas undergoing mall-to-mixed-use redevelopment nationally have shown 15–30% cumulative appreciation premium in surrounding residential properties over a 5–10 year period, compared to similar non-redevelopment neighborhoods. Phoenix 85029 is in the early stages of this cycle.
One of 85029's strongest selling points is its excellent freeway access and central positioning within the metro. The I-17 runs through the ZIP code like a spine, enabling fast access to dozens of major employment centers.
| Destination | Distance | Drive Time (Non-Peak) | Peak Hour Estimate | Primary Route |
|---|---|---|---|---|
| Downtown Phoenix | 11 miles | 14–18 min | 25–35 min | I-17 South |
| Deer Valley Airport / Tech Corridor | 8 miles | 12–15 min | 20–28 min | I-17 North → Deer Valley Rd |
| Banner Thunderbird Medical Center | 6 miles | 10–14 min | 18–25 min | Thunderbird Rd West |
| Scottsdale Fashion Square / Old Town | 18 miles | 22–28 min | 35–50 min | I-17 S → SR-51 → Camelback |
| Sky Harbor International Airport | 16 miles | 20–26 min | 30–45 min | I-17 S → I-10 E |
| Arizona State University (Tempe) | 19 miles | 22–30 min | 35–50 min | I-17 S → I-10 E → US-60 |
| Peoria / Loop 101 (west valley) | 10 miles | 14–18 min | 22–30 min | Peoria Ave West → Loop 101 |
| Anthem / TSMC Corridor (Deer Valley) | 20 miles | 22–28 min | 30–45 min | I-17 North |
The I-17/SR-51 interchange near Thomas Road (south of 85029) also provides an efficient connection east toward Scottsdale without using surface streets. Residents report that 85029 is one of the easier Phoenix ZIP codes for commuters who work in multiple parts of the Valley due to this hub-like freeway connectivity.
The amenity landscape in Phoenix 85029 spans the spectrum from neighborhood essentials to regional destinations, with the Metrocenter redevelopment actively adding new options.
The 85029 dining scene reflects the neighborhood's diversity, with a strong showing of Mexican, Central American, and Latin fusion restaurants alongside American casual dining:
Buying in Phoenix 85029 involves several Arizona-specific legal and transactional considerations that differ from other states. Here's what to know:
Arizona does not publicly record sale prices. Buyers and agents rely on MLS data and appraisals to establish comparable values. This means a savvy agent with real MLS access is essential — public websites like Zillow often have incomplete or delayed data for 85029 homes.
In Arizona, closing day equals recording day equals key day. Unlike "wet" states where there's a gap between funding and recording, you get keys the same day escrow records. This is a buyer-friendly feature — no waiting overnight after you sign.
Arizona's standard purchase contract provides a 10-day inspection period. During this time, buyers can inspect the property, request repairs via BINSR (Buyer's Inspection Notice and Seller's Response), or cancel without penalty. Given 85029's older housing stock, a thorough inspection is critical — budget $400–$600 for a quality inspection.
Under ARS §33-1101, Arizona homeowners get up to $400,000 in equity protection from creditors on their primary residence. This is an important asset protection tool for owner-occupants and applies automatically — no filing required in Arizona.
Sellers in Arizona are required to complete a Seller Property Disclosure Statement (SPDS) under ARS §33-422, disclosing known material defects, HOA details, neighbor disputes, and more. Buyers should review this document carefully alongside inspection findings for any 85029 purchase.
Maricopa County's combined property tax rate for residential properties is approximately 0.55%–0.7% of assessed value. For a $345,000 home in 85029, expect annual property taxes of roughly $1,900–$2,400. Senior homeowners (65+) may qualify for ARS §42-17302 Senior Valuation Protection (property tax freeze).
As of mid-2026, the median home price in Phoenix ZIP code 85029 ranges from $310,000 to $390,000, making it one of the more affordable north Phoenix ZIP codes. The area's housing stock is primarily 1970s–1990s single-family homes on generous lots, which offer strong value relative to neighboring Scottsdale and north Scottsdale ZIPs. Individual property prices vary widely based on size, condition, updates, and proximity to the Metrocenter redevelopment area.
Phoenix 85029 is primarily served by Deer Valley Unified School District (DVUSD), one of the Valley's largest and highest-rated districts. Key schools include Copper Canyon Elementary, Sunrise Elementary, and Deer Valley High School and Barry Goldwater High School at the secondary level. A small southern portion may fall into Washington Elementary School District. Always verify the specific school assignment for any property using the DVUSD address lookup tool before purchasing if school assignment is a priority.
Yes, Phoenix 85029 offers solid investment fundamentals in 2026. The Metrocenter redevelopment project is transforming a formerly dormant mall site into a mixed-use urban district, which is expected to boost surrounding property values. Investors find 3-bed/2-bath homes available in the $320K–$370K range with gross rental yields of 6.5%–8.5%. The location near I-17 and strong demand from renters employed in healthcare and retail corridors supports occupancy. Long-term appreciation potential is enhanced by the area's below-market pricing relative to comparable north Phoenix ZIPs.
The Metrocenter area in Phoenix 85029 is undergoing a significant mixed-use redevelopment. The former Metrocenter Mall site (1.4 million sq ft, opened 1973, declined 2000s–2020s) is being transformed into a walkable urban district featuring multifamily housing, retail, entertainment, and office space. The City of Phoenix has invested in streetscape improvements along Dunlap and Peoria avenues. This regeneration is expected to drive appreciation in the surrounding residential neighborhoods over the next 5–10 years, similar to successful mall-to-mixed-use conversions in other Sun Belt metros.
Many homes in Phoenix 85029 were built before the era of mandatory HOAs (1970s–1980s) and are non-HOA properties. This gives owners more flexibility and saves $100–$400/month compared to newer planned communities. Newer pockets built in the 1990s–2000s in the northern reaches of the ZIP may carry HOA fees of $60–$150/month for basic common-area maintenance and landscaping. The lack of HOA in many 85029 properties is actually a selling point for investors, as it allows short-term rental operation without HOA restrictions (though local ordinances still apply).
Ryan Moxley is a top 1% Phoenix REALTOR® with deep knowledge of north-central Phoenix ZIP codes including 85029. Whether you're buying your first home, searching for an investment property, or ready to list, Ryan provides data-driven guidance to maximize your outcome.
Call (480) 227-9143Get personalized guidance on buying, selling, or investing in Phoenix ZIP code 85029.