85540, Morenci, AZ

The 85540 zip code of Morenci, AZ has a median home value of $131,000 and a median home equity value of $113,000. The median household income in the 85540 zip code is $41,500. Approximately 20% of households in the 85540 zip code have children under the age of 18 living with them, and approximately 30% of households are made up of individuals over the age of 65. The average commute time to work is 26 minutes.

Morenci is located in Yavapai County and has a population of approximately 2,500 residents. The economy in Morenci is primarily based on agriculture and mining. Morenci was founded in 1892 and was originally known as Murphyville. The primary industries that are located in the 85540 zip code are agriculture (primarily cattle ranching), mining (mainly copper), and manufacturing (primarily furniture). There are also a number of small businesses located in the 85540 zip code that provide services to local residents.

The housing market in Morenci has been experiencing steady growth over the past few years. In 2017, there were 1,902 homes sold within the 85540 zip code; this represents an increase from 1,715 homes sold during 2016 and 1,527 homes sold during 2015. This growth can likely be attributed to increased demand for housing due to an influx of new residents into Morenci as well as an increase in job opportunities within the local economy. In addition to housing sales, prices for residential properties have also been increasing over time; as of January 2019, the median price for a home within the 85540 zip code was $131K ($113/sqft). This indicates that there is strong demand for property within this area; furthermore, it suggests that prices will continue to rise over time as more people invest money into purchasing property here.