86406, Lake Havasu City, AZ

Lake Havasu City, Arizona is located in the Mohave Valley and has a population of about 36,000 people. The median household income is $54,000 and the median home value is $147,500. Home equity in Lake Havasu City has increased by about 20% over the past year and home prices are now above their pre-recession levels.

The primary drivers of home equity growth in Lake Havasu City are strong job growth (+10%), low interest rates (+5%) and limited supply of homes for sale (-7%). The average days on market for homes in the 86406 zip code is just over 31 days which indicates that there is strong demand for homes in this area.

Home values have increased significantly since 2007 when they were only worth 73% of their current value. This rapid appreciation has benefited both buyers and sellers as homeowners have seen their equity increase while sellers have received more money for their homes than they would have if home values had not increased so rapidly.