85253, Paradise Valley, AZ

The 85253 zip code of Paradise Valley, AZ has a median home value of $269,000 and a median home equity value of $154,000. This is higher than the national median home value of $177,500 and the Arizona median home equity value of $142,500. The 85253 zip code also has a higher than average percentage of homes with mortgages at 84%.

Paradise Valley is an affluent suburb located in Maricopa County. It has a population of about 50,000 and is growing rapidly. The average household income in the 85253 zip code is over $100,000. Over 60% of households have incomes over $150,000. There are many luxury homes in Paradise Valley and the average price for a single family home is over $600,000.

The 85253 zip code has seen strong growth in both home values and homeownership rates over the past few years. In March 2016 the median home value was up 9% from March 2015 and the homeownership rate was up 4%. This strong growth may be due to several factors including: increasing demand for luxury homes; low interest rates; limited inventory; and strong job growth in Maricopa County.