85205, Mesa, AZ

Mesa, Arizona is located in the Phoenix metropolitan area. The 85205 zip code covers a total area of just over 10 square miles. As of the 2010 census, the population was 202,898. Mesa is home to many major corporations and businesses including Intel Corporation, First Solar, and Akamai Technologies.

The median home value in Mesa as of September 2015 was $269,500. This represents a decrease from the previous year when the median home value was $277,000. The percentage of homes with a value over $300,000 has increased from 9% in September 2014 to 11% in September 2015. The percentage of homes with a value under $150,000 has decreased from 37% to 33%.

Mesa is an affluent community and as such there are many luxury homes available for purchase or rent within the 85205 zip code. In addition to luxury homes there are also plenty of starter homes available for purchase or rent at reasonable prices.

Home equity is an important factor when purchasing or renting a home and it can be difficult to determine exactly how much equity you have in your current residence. Home equity can be defined as the difference between your mortgage balance and your property’s market value minus any outstanding loans on that property (such as credit cards).

As of September 2015, the average home equity balance in Mesa was $234,700 which represents an increase from the previous year when the average home equity balance was $220,100. The percentage of households with a home equity balance greater than $250k has increased from 5% to 7%. The percentage of households with a home equity balance greater than $500k has remained unchanged at 2%.