85284, Tempe, AZ

Home Equity and Home Prices in the 85284 Zip Code of Tempe, AZ

The 85284 zip code of Tempe, Arizona has a median home value of $236,000. This is higher than the national median home value of $181,500. The 85284 zip code also has a high home equity percentage at 66%. This means that homeowners in this zip code have more equity in their homes than average.

One reason for this high equity percentage may be due to the high number of college graduates living in the 85284 zip code. In fact, 35% of adults aged 25-34 have a bachelor's degree or higher, which is more than double the national average. These educated adults may be able to afford to buy homes with more equity and keep them longer than those who do not have as many educational opportunities.

Another factor that could contribute to the high home equity percentage in the 85284 zip code is its low unemployment rate. The unemployment rate in Tempe is just 3%, which is much lower than the national unemployment rate of 6%. This low unemployment rate may encourage people who are looking for jobs to buy homes instead of rent them or live in shelters.

Overall, it appears that there are several factors contributing to the high home equity and home prices in the 85284 zip code of Tempe, Arizona. These factors include a high number of college graduates and low unemployment rates.