86301, Prescott, AZ

Prescott, AZ is located in Yavapai County and has a population of approximately 97,000. The median household income in Prescott is $64,000 and the median home value is $224,500. Over the past year, the Prescott zip code has seen an increase in home equity of 6.5%. This corresponds to an increase of $15,000 on average for homes within this zip code.

The primary reason for this increase in home equity is likely due to the current market conditions. The overall economy has been relatively strong over the past year and as a result there has been an influx of buyers into the Prescott area. Additionally, interest rates have remained low which has helped to stimulate demand for homes within this zip code.

Despite these positive factors, there are still some risks associated with buying a home in Prescott right now. One such risk is that prices could eventually decrease due to market conditions or other factors outside of homeowners’ control. Another potential risk is that interest rates could rise which would cause borrowers to pay more for their homes over time.

Overall, it appears that homeownership remains a viable option in Prescott right now despite some potential risks associated with buying a home. Home equity continues to grow which suggests that buyers are continuing to feel confident about purchasing homes within this area.