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Arizona is becoming an increasingly popular state for people to move to, due to its affordable cost of living and (mostly) temperate climate. Retirees have been hearing about Arizona for years, but more and more young Americans are moving to this warm-weather state.
The question is: will it still be affordable to live in the State now that more people are aware of it? The answer is maybe, depending on which zip codes you choose to buy a home in.
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To find out which ZIP codes will be out of reach for the average American to buy a home in less than a decade, GOBankingRates took the overall median home value in the U.S. and projected its growth and decline over 10 years using Zillow’s study April 2024-25. forecast of the year. This projection was then compared to projections for the 86 Arizona ZIP codes that currently have home prices below the national average, with those that rise above the national average over the next 10 years considered “a place that is already It is not permitted”.
Read on to find out where you might want to avoid buying a home in Arizona.
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85553 (Tonto Basin)
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Home value in April 2024: $322,395
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1 year growth projection: 1.30%
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Projected home value by 2034: $366,845
Pictured: Monument Valley
More information: Real estate market 2024: 50 most affordable cities for homebuyers
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85629 (Sahuarita)
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Home value in April 2024: $350,721
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1 year growth projection: 0.70%
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Projected home value by 2034: $376,060
Read next: I’m a real estate investor: 10 places I would never buy property
DenisTangneyJr / /Keynote USA/Getty Images/iStockphoto
85741 (Tucson)
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Home value in April 2024: $336,191
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1 year growth projection: 1.20%
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Projected home value by 2034: $378,784
Cheri Alguire / Shutterstock.com
85365 (Yuma)
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Home value in April 2024: $329,847
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1 year growth projection: 1.40%
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Projected home value by 2034: $379,046
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85363 (young city)
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Home value in April 2024: $331,185
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1 year growth projection: 1.40%
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Projected home value by 2034: $380,583
Pictured: Scottsdale
See: Cheapest Places to Buy a Home in Every State
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85716 (Tucson)
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Home value in April 2024: $347,849
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1 year growth projection: 1.10%
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Projected home value by 2034: $388,064
Cheri Alguire / Shutterstock.com
85367 (Yuma)
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Home value in April 2024: $335,116
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1 year growth projection: 1.50%
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Projected home value by 2034: $388,915
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85035 (phoenix)
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Home value in April 2024: $338,671
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1 year growth projection: 1.40%
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Projected home value by 2034: $389,186
The story continues
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85040 (phoenix)
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Home value in April 2024: $336,321
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1 year growth projection: 1.50%
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Projected home value by 2034: $390,315
Explore more: 7 places where house prices are plummeting after the pandemic
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85132 (Florence)
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Home value in April 2024: $353,426
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1 year growth projection: 1.00%
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Projected home value by 2034: $390,402
Pictured: Glendale
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85735 (Tucson)
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Home value in April 2024: $347,332
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1 year growth projection: 1.20%
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Projected home value by 2034: $391,336
dszc/iStock.com
85301 (Glendale)
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Home value in April 2024: $338,388
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1 year growth projection: 1.50%
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Projected home value by 2034: $392,713
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85017 (phoenix)
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Home value in April 2024: $329,341
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1 year growth projection: 1.80%
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Projected home value by 2034: $393,662
For you: Don’t buy a home in these five U.S. cities that have shrinking populations and fewer buyers
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85033 (phoenix)
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Home value in April 2024: $341,615
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1 year growth projection: 1.50%
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Projected home value by 2034: $396,459
miroslav_1 / iStock.com
85019 (phoenix)
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Home value in April 2024: $345,137
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1 year growth projection: 1.50%
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Projected home value by 2034: $400,545
85939 (Taylor)
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Home value in April 2024: $355,524
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1 year growth projection: 1.20%
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Projected home value by 2034: $400,566
Pictured: Scottsdale
Halbergman//Keynote USA/Getty Images
85139 (Maricopa)
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Home value in April 2024: $358,911
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1 year growth projection: 1.20%
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Projected home value by 2034: $404,382
Keep in mind: 5 types of homes whose value will plummet in 2024
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85031 (phoenix)
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Home value in April 2024: $343,980
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1 year growth projection: 1.70%
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Projected home value by 2034: $407,139
dszc/iStock.com
86021 (Colorado City)
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Home value in April 2024: $329,698
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1 year growth projection: 2.80%
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Projected home value by 2034: $434,558
In the photo: Tuscany
DenisTangneyJr / /Keynote USA/Getty Images/iStockphoto
86038 (Mormon Lake)
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Home value in April 2024: $358,364
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1 year growth projection: 2.30%
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Projected home value by 2034: $449,864
Pictured: Lake Havasu
Methodology: GOBankingRates took the overall median home value in the US and projected its growth and decline over 10 years using Zillow’s April 2024-25 one-year forecast. This projection was then compared to the projections of the 86 Arizona ZIP codes that currently have housing prices below the national average, and are considered those that exceed the national average in the next 10 years (plus their projected growth rate over the same period). “a place you could no longer afford.” For each ZIP code in Arizona over the next decade, GOBankingRates found the following factors: (1) year the Arizona ZIP code will become a “place you can no longer afford”; (2) projected value of the home for that year; and (3) the projected median home value in the United States for that year. NOTE: GOBankingRates does not expect home value growth to remain stagnant at the current rate over the next decade, but using these constant numbers gives us an idea of where certain markets are headed without unforeseen disruptions in the future. All data used to conduct this study was compiled and verified on May 29, 2024.
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This article originally appeared on GOBankingRates.com: In less than a decade, you won’t be able to afford homes in these 20 Arizona ZIP codes
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