Zip Code: 85015 (Phoenix, Arizona) - Trend of Zillow Observed Rent Index (ZORI) for All Homes Plus Multifamily, Smooth and Seasonally Adjusted (Zillow)

Updated on March 22, 2026.

According to data from Zillow.com, the smoothed and seasonally adjusted Zillow Observed Rent Index (ZORI) for All Homes Plus Multifamily in the 85015 Zip Code (Phoenix, Arizona) in February 2026 was $1,127.476. The month over month percentage change (MoM) was -1.18%, and the year over year percentage change (YoY) was -6.91%.

The chart below shows the trend of the smoothed and seasonally adjusted ZORI for the 85015 zip code (Phoenix, Arizona). The table below shows the trend of the smoothed and seasonally adjusted ZORI, and the MoM and YoY percentage changes for the 85015 zip code (Phoenix, Arizona).

You can see similar information for other Arizona zip codes.

Note: Zillow Observed Rent Index (ZORI) is a smoothed measure of the typical observed market rate rent across a given region. ZORI is a repeat-rent index that is weighted to the rental housing stock to ensure representativeness across the entire market, not just homes currently listed for-rent.

Data Source: Zillow.
Zip Code: 85015 (Phoenix, Arizona) - Trend of Zillow Observed Rent Index (ZORI) for All Homes Plus Multifamily, Smooth and Seasonally Adjusted ($)
Zip Code: 85015 (Phoenix, Arizona) - Trend of Zillow Observed Rent Index (ZORI) for All Homes Plus Multifamily, Smooth and Seasonally Adjusted
1 – 10 of 134
Month ZORI ($) MoM Perc. Change (%) YoY Perc. Change (%)
Jan 2015 541.2293755567179 NaN NaN
Feb 2015 545.7050335625507 0.83 NaN
Mar 2015 546.5614577472129 0.16 NaN
Apr 2015 558.7211126760798 2.23 NaN
May 2015 564.1144320562374 0.97 NaN
Jun 2015 558.061804557465 -1.07 NaN
Jul 2015 558.3925060553125 0.06 NaN
Aug 2015 560.9227300862445 0.45 NaN
Sep 2015 574.9604288817926 2.50 NaN
Oct 2015 581.8660338559073 1.20 NaN
Nov 2015 579.0240934283504 -0.49 NaN
Dec 2015 578.1966211192356 -0.14 NaN
Jan 2016 571.9059490647804 -1.09 5.67
Feb 2016 576.5793800920071 0.82 5.66
Mar 2016 589.2690494307063 2.20 7.81
Apr 2016 597.1522347297705 1.34 6.88
May 2016 599.3002039197406 0.36 6.24
Jun 2016 600.0719220406423 0.13 7.53
Jul 2016 606.4550570908831 1.06 8.61
Aug 2016 614.9288353025578 1.40 9.63
Sep 2016 623.0382996301531 1.32 8.36
Oct 2016 627.0949594344377 0.65 7.77
Nov 2016 635.8843425902012 1.40 9.82
Dec 2016 641.5564018661447 0.89 10.96
Jan 2017 655.763765961054 2.22 14.66
Feb 2017 652.5989266855827 -0.48 13.19
Mar 2017 651.5280667496042 -0.16 10.57
Apr 2017 656.1182572490175 0.71 9.88
May 2017 674.0314590279298 2.73 12.47
Jun 2017 684.9270290491048 1.62 14.14
Jul 2017 692.7550273363087 1.14 14.23
Aug 2017 688.9800007991767 -0.55 12.04
Sep 2017 689.9628020803383 0.14 10.74
Oct 2017 690.8108815772288 0.12 10.16
Nov 2017 697.9163793302681 1.03 9.76
Dec 2017 690.7610917817807 -1.02 7.67
Jan 2018 696.687883161351 0.86 6.24
Feb 2018 706.2537742344019 1.37 8.22
Mar 2018 723.2573610931429 2.41 11.01
Apr 2018 729.8500104169194 0.91 11.24
May 2018 733.8355309320248 0.55 8.87
Jun 2018 744.8733214826559 1.50 8.75
Jul 2018 746.8318020766498 0.26 7.81
Aug 2018 760.0769564205349 1.77 10.32
Sep 2018 774.8451018685075 1.94 12.30
Oct 2018 785.619729964463 1.39 13.72
Nov 2018 787.2979011152944 0.21 12.81
Dec 2018 794.1171824784403 0.87 14.96
Jan 2019 806.0084809683286 1.50 15.69
Feb 2019 814.9840435695583 1.11 15.40
Mar 2019 814.2623861174952 -0.09 12.58
Apr 2019 820.3267840289338 0.75 12.40
May 2019 822.8824428669451 0.31 12.13
Jun 2019 824.6286360810604 0.21 10.71
Jul 2019 834.0396131879398 1.14 11.68
Aug 2019 839.9035167469805 0.70 10.50
Sep 2019 841.6067312401816 0.20 8.62
Oct 2019 848.0217617198784 0.76 7.94
Nov 2019 857.1978890715574 1.08 8.88
Dec 2019 870.7934233422379 1.59 9.66
Jan 2020 870.4421415867201 -0.04 7.99
Feb 2020 874.3083138710108 0.44 7.28
Mar 2020 880.2060611495904 0.68 8.10
Apr 2020 886.1595079547703 0.68 8.03
May 2020 891.0048265286459 0.55 8.28
Jun 2020 903.7050799089482 1.43 9.59
Jul 2020 918.3850216130868 1.62 10.11
Aug 2020 929.6652960879347 1.23 10.69
Sep 2020 938.0248061859049 0.90 11.46
Oct 2020 936.7848760254548 -0.13 10.47
Nov 2020 929.7683767262723 -0.75 8.47
Dec 2020 931.2007236344166 0.15 6.94
Jan 2021 942.3866442685038 1.20 8.27
Feb 2021 954.6823932432069 1.31 9.19
Mar 2021 971.9668328634411 1.81 10.43
Apr 2021 999.48396791172 2.83 12.79
May 2021 1026.1244569360392 2.67 15.17
Jun 2021 1043.0539163547521 1.65 15.42
Jul 2021 1047.8843433508105 0.46 14.10
Aug 2021 1064.2314284481135 1.56 14.48
Sep 2021 1093.9771290305089 2.80 16.63
Oct 2021 1108.905939372897 1.37 18.37
Nov 2021 1127.5467142462478 1.68 21.27
Dec 2021 1134.8472785636613 0.65 21.87
Jan 2022 1150.0213110316006 1.34 22.03
Feb 2022 1164.4343328932355 1.25 21.97
Mar 2022 1190.6491414330496 2.25 22.50
Apr 2022 1184.196710950001 -0.54 18.48
May 2022 1184.1505492597084 0.00 15.40
Jun 2022 1178.019541739662 -0.52 12.94
Jul 2022 1204.7338470743107 2.27 14.97
Aug 2022 1212.4540400650103 0.64 13.93
Sep 2022 1207.049558002419 -0.45 10.34
Oct 2022 1220.011018364584 1.07 10.02
Nov 2022 1230.1185744399545 0.83 9.10
Dec 2022 1239.6205076889496 0.77 9.23
Jan 2023 1234.6422138560179 -0.40 7.36
Feb 2023 1243.9502233480196 0.75 6.83
Mar 2023 1245.578748766398 0.13 4.61
Apr 2023 1256.8150207027427 0.90 6.13
May 2023 1250.3116841305566 -0.52 5.59
Jun 2023 1257.9566935173852 0.61 6.79
Jul 2023 1244.8204116197112 -1.04 3.33
Aug 2023 1235.3629552129576 -0.76 1.89
Sep 2023 1224.5618234176536 -0.87 1.45
Oct 2023 1213.9630075963353 -0.87 -0.50
Nov 2023 1220.0381713253944 0.50 -0.82
Dec 2023 1219.143716041079 -0.07 -1.65
Jan 2024 1226.4827548151688 0.60 -0.66
Feb 2024 1202.0829559385763 -1.99 -3.37
Mar 2024 1197.1311716158457 -0.41 -3.89
Apr 2024 1188.004921059754 -0.76 -5.47
May 2024 1192.5935902939411 0.39 -4.62
Jun 2024 1189.5960441510592 -0.25 -5.43
Jul 2024 1189.28845631053 -0.03 -4.46
Aug 2024 1192.9598418210483 0.31 -3.43
Sep 2024 1192.468855252849 -0.04 -2.62
Oct 2024 1190.8522871855444 -0.14 -1.90
Nov 2024 1181.7655276122687 -0.76 -3.14
Dec 2024 1195.0049066312838 1.12 -1.98
Jan 2025 1200.5234974484958 0.46 -2.12
Feb 2025 1211.2122193978273 0.89 0.76
Mar 2025 1210.2439551586015 -0.08 1.10
Apr 2025 1212.8104154960395 0.21 2.09
May 2025 1210.294103030789 -0.21 1.48
Jun 2025 1207.2952785617597 -0.25 1.49
Jul 2025 1204.1324747876804 -0.26 1.25
Aug 2025 1198.2356964349096 -0.49 0.44
Sep 2025 1196.7704352409153 -0.12 0.36
Oct 2025 1191.564190640139 -0.43 0.06
Nov 2025 1183.33975499622 -0.69 0.13
Dec 2025 1160.4746553816497 -1.93 -2.89
Jan 2026 1140.9004660896276 -1.69 -4.97
Feb 2026 1127.4760683760685 -1.18 -6.91