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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