86001, Flagstaff, AZ

The Flagstaff, Arizona 86001 zip code has a population of just over 60,000 people. The median household income in this zip code is just over $50,000, which is significantly higher than the national median household income of $53,046. However, the home equity and home prices in this zip code are quite low when compared to other areas of the country.

According to Zillow’s 2018 Home Value Report for ZIP Codes within 100 miles of Flagstaff, the median home value in this area is just over $130,000. This is much lower than the nationwide median home value of $247,500. In addition, the percentage of homes that are worth more than their original purchase price is also much lower in this area than it is nationwide. Only about one-third (32%) of homes in this zip code are worth more than their original purchase price. This compares to almost half (49%) of homes nationwide that are worth more than their original purchase price.

One reason why the home equity and home prices in this area are so low may be because there is a high number of homeowners who have taken out mortgages on their homes. According to Zillow’s 2018 Mortgage Reports for ZIP Codes within 100 miles of Flagstaff, approximately two-thirds (65%)of homeowners in this area have taken out a mortgage on their homes. This compares to only about one-third (34%)of homeowners nationwide who have taken out a mortgage on their homes. Additionally, there appears to be a high number of first time buyers who are purchasing homes in this area. According to Zillow’s 2018 Home Values by Age report for ZIP Codes within 100 miles of Flagstaff: Approximately half (51%)of all households living in this zip code were made up entirely or partially by first time buyers as of January 1st 2019 . This compares to only about one-quarter (26%)of all households nationally that were made up entirely or partially by first time buyers as of January 1st 2019 .