85035, Phoenix, AZ

The 85035 zip code of Phoenix, AZ is a prime location for those looking to purchase a home. The median home value in this area is $220,000, which is significantly higher than the national median home value of $177,500. Additionally, the average home equity in this area is $128,000, which indicates that homeowners in this area are very well-off.

One reason why homeowners in the 85035 zip code are so well-off is because of the strong housing market conditions in Phoenix. The city has seen an influx of new residents and businesses over the past several years, which has led to an increase in demand for homes and apartments. In addition, many people who live in Phoenix own their homes outright or have significant amounts of equity built up within them. This means that they are not as vulnerable to fluctuations in the housing market as those who do not have such assets.

Despite these positive factors, there are some potential risks associated with buying a home in the 85035 zip code. For example, if interest rates rise suddenly there could be a negative impact on home values and homeowner equity. Additionally, if there is a major economic downturn within the city or region homeowners could find themselves struggling to sell their homes at fair prices. However overall it appears that homeownership rates and home values continue to be high within the 85035 zip code and it would appear likely that they will remain so for some time to come