85608, Douglas, AZ

Home Equity and Home Prices in the 85608 Zip Code of Douglas, AZ

The 85608 zip code of Douglas, Arizona has a median home value of $141,000. This is higher than the statewide median home value of $118,500. The 85608 zip code also has a lower than average rate of homeownership at just over 60%. This means that there are more homes for sale than there are homes that are currently occupied.

One reason for this high rate of homeownership could be the low cost of living in Douglas. The cost of groceries, utilities, and other basic necessities are all relatively low when compared to other areas in Arizona. Additionally, Douglas is located within close proximity to both Phoenix and Tucson which makes it an attractive option for those looking to relocate.

Despite the high rate of homeownership in the 85608 zip code, demand for properties remains high due to its location within close proximity to major metropolitan areas. As a result, home prices have increased significantly over the past few years. In fact, according to Zillow’s recent report on Arizona housing markets, the average home price in Douglas has increased by almost 50% since 2016!

This increase in home prices has had a significant impact on residents living in the 85608 zip code. Many have seen their incomes decline as a result; however they continue to pay higher mortgage rates than those living elsewhere in Arizona or nationwide. While some may see this as an opportunity to buy a property at a discounted price before prices continue to increase further, others may find themselves struggling financially if they do not already have substantial equity built up in their home.