Cities with the most expensive homes in the Phoenix metropolitan area

(Forklift) – Buying a home is one of the most important investments you can make. Homeownership is more than just a place to live, it is an asset with the potential to increase in value tremendously.

But with home prices hitting record highs, affordability is a big consideration for buyers. The average home price in the U.S. was $360,974 in June, up 3.2 percent from a year earlier.

High mortgage interest rates are also making monthly payments more expensive; on August 22, the interest rate for a 30-year mortgage was 6.46%.

Although real estate prices have increased across the United States, there are some cities that charge higher prices than others. Location, size, age and condition are all factors that affect property value.

Stacker compiled a list of cities with the most expensive homes in the Phoenix metropolitan area using data from Zillow. The charts show the monthly average home value since January 2018.

Data was available for 46 cities and municipalities.

#30. Sun City West, Arizona

• Typical home value: $395,140
• Price change since 1 year: -0.3%
• 5-year price change: +50.8.

#29. Tonopah, Arizona

• Typical home value: $398,969
• Price change since 1 year: +6.4%
• 5-year price change: +75.2%

#28. Tolleson, Arizona

• Typical home value: $402,679
• Price change since 1 year: +6.9%
• Price change over 5 years: +77.1%

#27. Buckeye, Arizona

• Typical home value: $407,446
• Price change since 1 year: +2.7%
• Price change over 5 years: +65.3%

#26. Avondale, Arizona

• Typical home value: $409,758
• Price change since 1 year: +4.0%
• Price change over 5 years: +68.9%

#25. San Tan Valley, Arizona

• Typical home value: $415,769
• Price change since 1 year: +4.0%
• Price change over 5 years: +67.6%

#24. Glendale, Arizona

• Typical home value: $418,602
• Price change since 1 year: +5.2%
• Price change over 5 years: +67.7%

#23. Phoenix, Arizona

• Typical home value: $430,561
• Price change since 1 year: +5.1%
• 5-year price change: +66.2%

#22. Surprise, Arizona

• Typical home value: $436,279
• Price change since 1 year: +1.4%
• Price change over 5 years: +59.6%

#21. Mesa, Arizona

• Typical home value: $443,717
• Price change since 1 year: +4.0%
• Price change over 5 years: +63.5%

#20. Goodyear, Arizona

• Typical home value: $483,587
• Price change since 1 year: +2.1%
• Price change over 5 years: +58.1%

#19.Tempe, Arizona

• Typical home value: $488,043
• Price change since 1 year: +5.3%
• 5-year price change: +61.3%

#18. Gold Canyon, Arizona

• Typical home value: $497,860
• Price change since 1 year: +3.7%
• Price change over 5 years: +58.9%

#17. Peoria, Arizona

• Typical home value: $499,100
• Price change since 1 year: +3.5%
• 5-year price change: +62.2%

#16.Oracle, Arizona

• Typical home value: $517,656
• Price change since 1 year: +4.1%
• Price change over 5 years: +64.7%

#15. Chandler, Arizona

• Typical home value: $532,569
• Price change since 1 year: +4.5%
• 5-year price change: +60.6%

#14. Wickenburg, Arizona

• Typical home value: $539,565
• Price change since 1 year: +3.3%
• 5-year price change: +60.0%

#13. Litchfield Park, Arizona

• Typical home value: $541,197
• Price change since 1 year: +3.6%
• Price change over 5 years: +62.5%

#12. Waddell, Arizona

• Typical home value: $550,287
• Price change since 1 year: +4.9%
• 5-year price change: +65.6%

#11. Anthem, Arizona

• Typical home value: $579,455
• Price change since 1 year: +5.0%
• 5-year price change: +70.1%

#10. Gilbert, Arizona

• Typical home value: $584,048
• Price change since 1 year: +5.9%
• Price change over 5 years: +66.3%

#9. Queen Creek, Arizona

• Typical home value: $657,167
• Price change since 1 year: +4.7%
• 5-year price change: +68.0%

#8. Fountain Hills, Arizona

• Typical home value: $659,613
• Price change since 1 year: +5.1%
• 5-year price change: +60.1%

#7. New River, Arizona

• Typical home value: $757,064
• Price change since 1 year: +7.2%
• 5-year price change: +69.1%

#6. Rio Verde, Arizona

• Typical home value: $826,529
• Price change since 1 year: +3.4%
• 5-year price change: +62.0%

#5. Scottsdale, Arizona

• Typical home value: $830,040
• Price change since 1 year: +5.7%
• 5-year price change: +69.2%

#4. Cave Creek, Arizona

• Typical home value: $1,028,438
• Price change since 1 year: +9.7%
• 5-year price change: +77.7%

#3. Fort McDowell, Arizona

• Typical home value: $1,074,055
• Price change since 1 year: +9.3%
• 5-year price change: +60.6%

#2. Carefree, Arizona

• Typical home value: $1,263,891
• Price change since 1 year: +6.5%
• 5-year price change: +72.8%

#1. Paradise Valley, Arizona

• Typical home value: $3,461,354
• Price change since 1 year: +10.1%
• 5-year price change: +87.5%

This story features data reporting and writing by Elena Cox and is part of a series leveraging data automation in 379 major cities.

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