86315, Prescott Valley, AZ

Prescott Valley, AZ is located in the Phoenix metropolitan area. The zip code 86315 has a population of approximately 36,000 people. Prescott Valley is a suburban community located within the city limits of Prescott. Home prices in the zip code have increased significantly over the past few years, reaching an all-time high of $269,900 in May of 2018.

The primary drivers of home equity and home prices in Prescott Valley are strong economic fundamentals and limited supply. The local economy has been expanding steadily since the recession ended in 2009, with employment growth averaging 2% annually over that time period. In addition, there is little to no available land for new housing development within Prescott Valley, which has helped to keep prices high.

The average price per square foot for homes in Prescott Valley is $128, which is higher than the national average of $104 per square foot. This premium reflects both the limited supply of homes available and the strong demand from buyers who are confident about future economic prospects.

While home values have increased rapidly over recent years, they are still relatively affordable when compared to other areas within Arizona and nationwide. The median price for homes in Prescott Valley was $183,500 as of May 2018 – well below the statewide median price of $305,000 and national median price of $217 per square foot.

If you are interested in purchasing a home in Prescott Valley or elsewhere within Arizona's 86315 zip code area, it is important to consult with a qualified real estate agent who can provide you with accurate information about current market conditions and trends.