Excess fibroblast growth factor 23 (FGF23), excess parathyroid hormone (PTH) and an increase in extracellular calcium cause hypophosphatemia by lowering the maximum renal phosphate reabsorption threshold (TmP/GFR). We recently reported two cases of X-linked hypophosphatemia (XLH) with severe tertiary hyperparathyroidism, who had normalization of TmP/GFR upon being rendered hypoparathyroid following total parathyroidectomy, despite marked excess in both C-terminal FGF23 (cFGF23) and intact FGF23 (iFGF23). We explored the effects of FGF23, PTH, and calcium on TmP/GFR in a cross-sectional study (n = 74) across a spectrum of clinical cases with abnormalities in TmP/GFR, PTH, and FGF23. This comprised three groups: FGF23-dependent hypophosphatemia (FDH) (n = 27); hypoparathyroidism (HOPT) (n = 17); and chronic kidney disease (CKD) (n = 30). Measurements included TmP/GFR, cFGF23, PTH, ionized calcium, vitamin D metabolites, and bone turnover markers. The effects of cFGF23, PTH and ionized calcium on TmP/GFR was modelled using hierarchical multiple regression and was probed by moderation analysis with PROCESS. Modeling analyses showed independent effects on TmP/GFR by cFGF23, PTH, and ionized calcium in conjunction with a weak but significant effect of the interaction term for PTH and FGF23; probing demonstrated that the effect was most prominent during PTH deficiency. Teriparatide 20 μg daily was self-administered for 28 days by one case of X-linked hypophosphatemia with hypoparathyroidism (XLH-HOPT) in order to assess the response of TmP/GFR, cFGF23, iFGF23, nephrogenous cyclic adenosine monophosphate (NcAMP), vitamin D metabolites and bone turnover markers. After 28 days, TmP/GFR was lowered from 1.10 mmol/L to 0.48 mmol/L; this was accompanied by an increase in NcAMP, ionized calcium and bone turnover markers. In conclusion, the effect of FGF23 excess on TmP/GFR is altered by parathyroid status such that the effect is ameliorated by hypoparathyroidism and the effect is augmented by hyperparathyroidism.