X‐linked hypophosphatemia (XLH), the most prevalent heritable renal phosphate (Pi) wasting disorder, is caused by deactivating mutations of PHEX. Consequently, circulating phosphatonin FGF23 becomes elevated and hypophosphatemia in affected children leads to rickets with skeletal deformity and reduced linear growth while affected adults suffer from osteomalacia and forms of ectopic mineralization. In 2015, we reported uniquely mild XLH in six children and four of their mothers carrying the non‐coding PHEX 3′‐UTR mutation c.*231A>G. Herein, we characterize this mild XLH variant by comparing its features in 30 individuals to 30 age‐ and sex‐matched patients with XLH but without the 3′‐UTR mutation. The “UTR” and “XLH” groups, both comprising 17 children (2 to 17 years, 3 girls) and 13 adults (23 to 63 years, 10 women), had mean ages of 23 years. Only 43% of the UTR group versus 90% of the XLH group had received medical treatment for their disorder, including 0% versus 85% of the females, respectively (ps Z‐score (HZ) −1.0 ± 1.0 versus −2.0 ± 1.4 (p = .0034), with significantly greater height for females (−0.9 ± 0.7 versus −2.3 ± 1.4;​ p = .0050) but not males (−1.2 ± 1.1 versus −1.9 ± 1.5;​ p = .1541), respectively. Mean ± SD “arm span Z‐score” (AZ) did not differ between the UTR −0.8 ± 1.3 versus XLH −1.3 ± 1.8 groups (p = .2269). Consequently, the UTR group was more proportionate with a mean ∆Z (AZ – HZ) of 0.1 ± 0.6 versus 0.7 ± 1.0 (p = .0158), respectively. Compared to the XLH group, the UTR group had significantly higher fasting serum Pi and renal tubular threshold maximum for phosphorus per glomerular filtration rate (TmP/GFR) (ps ≤ .0060), serum FGF23 concentrations within the reference range (p = .0068), and similar serum alkaline phosphatase levels (p = .6513). UTR lumbar spine bone mineral density Z‐score was higher (p = .0343). Thus, the 3′‐UTR variant of XLH is distinctly mild, especially in girls and women, posing challenges for its recognition and management.