85029, Phoenix, AZ

The 85029 zip code of Phoenix, AZ has a median home value of $236,000 and a median home equity value of $130,000. The 85029 zip code has seen an increase in home values over the past five years, with a growth rate of 9.7%. This is likely due to the strong economy and low interest rates.

There are a number of factors that can affect home prices. These include market conditions (such as demand and availability), local government policies (such as zoning laws and tax rates), and the physical condition of the property. In general, properties located in desirable areas or with good physical condition tend to be more expensive than those in less desirable areas or with poor physical condition.

In addition to market conditions, other factors that can affect home prices include interest rates, inflation rates, and taxes. Interest rates are important because they influence how much people are willing to pay for a loan on behalf of their home purchase. Inflation rates affect how much people’s wages will increase over time, which can impact how much they can afford to spend on housing each month. Taxes also play an important role in determining how affordable housing is relative to other expenses such as food and transportation costs.