86011, Flagstaff, AZ

Flagstaff, Arizona is located in the northeastern corner of the state and has a population of just over 100,000 people. The 86011 zip code covers much of Flagstaff and has a median home value of $236,500. Home equity in this zip code is very high compared to other areas of the country. In fact, nearly two-thirds (64%) of all homes in this zip code have at least some equity. This is significantly higher than the national average of just over half (53%).

One reason for this high level of equity may be that Flagstaff is a relatively young city. Just over one-third (35%) of residents are over 55 years old, which is considerably lower than the national average of nearly half (51%). Additionally, Flagstaff has seen strong job growth in recent years which may have helped to increase home values. In fact, since 2007 employment growth has outpaced inflation by 2%. This strong job market may help to keep prices high as more people are able to afford homes here.

Despite these positive factors, there are some challenges facing homeowners in the 86011 zip code. One issue is that home values have been growing faster than wages which may make it difficult for many people to save enough money to buy a home outright. Additionally, interest rates have been relatively low recently which may make it more difficult for people to get mortgages or refinance their existing homes. However, overall homeownership rates in this area remain high and indicate that there is still plenty of demand for homes here.