85648, Rio Rico, AZ

Rio Rico, AZ is located in the Phoenix metropolitan area. The 85648 zip code has a population of approximately 10,000 people. Rio Rico is a small town that was founded in 1892. The economy of Rio Rico is primarily based on agriculture and tourism.

The home equity and home prices in the 85648 zip code are relatively low when compared to other areas of the Phoenix metropolitan area. The median home value in the 85648 zip code is $128,000 which is about half of the median home value in the Phoenix metropolitan area ($248,500). The average monthly mortgage payment for homes in the 85648 zip code is $1,521 which is about half of the average monthly mortgage payment for homes in the Phoenix metropolitan area ($2,191).

There are several reasons why homes in the 85648 zip code are cheaper than homes elsewhere in the Phoenix metropolitan area. One reason is that there are fewer high-priced homes available for sale in Rio Rico than there are elsewhere in the Phoenix metropolitan area. Another reason is that many homeowners who live in Rio Rico have been able to keep their homes for a long time because they have low interest rates and good credit ratings. Finally, many homeowners who live in Rio Rico have taken advantage of government programs such as FHA or VA loans which allow them to buy their homes at a lower price than they would be able to pay if they were buying their homes outright.