85207, Mesa, AZ

Mesa, AZ is located in the Phoenix metropolitan area and has a population of over 1 million people. The 85207 zip code covers a large area including many affluent neighborhoods and some lower-income areas. Home prices in Mesa range from around $200,000 to over $1 million, with an average price of around $470,000.

The 85207 zip code has a high home equity rate compared to other parts of the country. The home equity rate in Mesa was 18% in 2016, which is much higher than the national average of 11%. This high home equity rate may be due to the high level of income and wealth in the area. In addition, many people in Mesa have been able to borrow against their homes for years, which has helped increase their value.

Despite the high home equity rate, there are still many homeowners who are struggling to pay their mortgages. In 2016, about 30% of homeowners in the 85207 zip code were delinquent on their mortgages. This is higher than the national average of 23%, but it is still lower than the peak rates seen during the housing crisis. Overall, it seems that despite having a high home equity rate, most homeowners in Mesa are doing well financially overall.