85119, Apache Junction, AZ

The Apache Junction, AZ 85119 zip code has a population of around 34,000 people and is located in the Mohave Valley region of the state. The median home value in this zip code is $158,500 which is above the Arizona median home value of $130,000. This means that there are more homes in this zip code that are worth more than average. Additionally, Apache Junction has a low unemployment rate of 3.5% which indicates that there are many jobs available in the area.

One reason why there are so many homes in this zip code that are worth more than average is because Apache Junction has a high level of home equity. According to Zillow’s 2018 Home Value report, the median home equity for Apache Junction residents is $128,200 which is higher than both the Arizona and national medians of $103,700 and $160,000 respectively. This means that many residents have enough money saved up to buy a house even if they don’t have much money saved up overall. Additionally, Apache Junction has a low foreclosure rate which indicates that there aren’t many houses for sale that are currently being foreclosed on or sold at a discount due to financial problems.

Overall, it seems like homeownership rates and home values in the 85119 zip code are high because there is plenty of equity available for residents to use when buying a house and there isn't much competition for houses due to low foreclosure rates or other factors. While it may be difficult for some people to afford a house in this area due to its high prices, it seems like homeownership rates and home values will continue to rise over time as long as these factors remain stable