The colloidal stability of polymer-stabilized nanoparticles is critical for therapeutic use. However, phosphates in physiological media can induce polymer desorption and consequently flocculation. Colloidal characteristics of PEO-magnetite nanoparticles with different anchors for attaching PEO to magnetite were examined in PBS. The effects of the number of anchors, PEO molecular weight, and chain density were examined. It was observed that ammonium phosphonates anchored PEO to magnetite effectively in phosphate-containing solutions because of interactions between the phosphonates and magnetite. Additionally, a method to estimate the magnetite surface coverage was developed and was found to be critical to the prediction of colloidal stability. This is key to understanding how functionalized surfaces interact with their environment.