Homebuyers can still find houses priced below $170,000 in metro Phoenix, but prices in these affordable neighborhoods are climbing fast.
From central locations to the outer edges of the Valley, here are the five ZIP codes with the lowest median home prices, according to The Arizona Republic’s Street Scout Home Values.
The Street Scout data comes from The Information Market, owned by the Arizona Regional Multiple Listing Service.
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The median price of a home in this central area surrounded by the airport and freeways is the lowest in metro Phoenix, $131,509. That’s less than half the Valley's overall median home price.
Buyers are finding the area as prices jumped 24 percent in 2018.
Home prices around Sky Harbor airport have shot up 192 percent since the Valley’s housing market hit bottom in 2011. At that time, the typical house in this area cost $45,000.
MORE: 5 neighborhoods that offer the best value for first-time homebuyers
The typical home in this area, stretching from the western edge of downtown Phoenix south to the Rio Salado, costs $139,000.
Priced out of other central Phoenix areas, both first-time buyers and investors have begun to move into the area.
The area’s median home price has skyrocketed 257 percent since 2011.
SEE OUR DATABASE: Home values in metro Phoenix: See how your ZIP code fares
This median home price in this suburb on the southeast edge of metro Phoenix is $160,000.
Buyers willing to make the commute can find a new home in the area for only about $20,000 more.
The Pinal County area's lower prices and location offer Interstate 10 is drawing buyers from the Phoenix-area.
The median home price in this ZIP code in the far northwest Valley is $160,000.
Growth is just reaching this area, where new homes, manufactured houses and large vacant lots for sale can be found.
Most of this ZIP is in Morristown, which is bordered by U.S. 60 to the west. Peoria's growth could move into this area during the the next decade.
The median home price in this area, home to growing Grand Canyon University, is $165,000.
Home prices in the area have rebounded 302 percent from $41,000 in 2011.
This west Phoenix neighborhood is drawing investors and flippers turning homes into rentals for students. The area's crime rate has dropped as the university has expanded there.
MORE ON STREET SCOUT HOME VALUES:
Reach the reporter at [email protected] or 602-444-8040. Follow her on Twitter @Catherinereagor.
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