The real estate frenzy spurred by the coronavirus pandemic continues, though at a slower pace. Buyers are still competing for a limited supply of housing, driving up prices for affordable properties.
The typical home value in the United States was $357,377 in February, 2.1% higher than the year before. Increasing mortgage rates have slowed growth, with prices even declining in some places. But some areas are still seeing price jumps compared to the year before.
Stacker compiled a list of cities with the fastest-growing home prices in the Phoenix-Mesa-Chandler metro area using data from Zillow. Here’s how they ranked:
#30. Florence, AZ
– 1-year price change: -$2,485 (-0.7%)
– 5-year price change: +$117,622 (+52.6%)
– Typical home value: $341,071 (#36 most expensive city in metro)
#29. San Tan Valley, AZ
– 1-year price change: -$2,440 (-0.6%)
– 5-year price change: +$146,667 (+57.1%)
– Typical home value: $403,437 (#28 most expensive city in metro)
#28. Gold Canyon, AZ
– 1-year price change: -$1,662 (-0.3%)
– 5-year price change: +$166,559 (+51.2%)
– Typical home value: $491,910 (#17 most expensive city in metro)
#27. Youngtown, AZ
– 1-year price change: -$1,532 (-0.5%)
– 5-year price change: +$113,895 (+59.4%)
– Typical home value: $305,502 (#39 most expensive city in metro)
#26. Tempe, AZ
– 1-year price change: -$1,130 (-0.2%)
– 5-year price change: +$157,667 (+49.5%)
– Typical home value: $476,202 (#20 most expensive city in metro)
#25. El Mirage, AZ
– 1-year price change: -$929 (-0.3%)
– 5-year price change: +$132,791 (+60.9%)
– Typical home value: $350,985 (#35 most expensive city in metro)
#24. Oracle, AZ
– 1-year price change: -$896 (-0.2%)
– 5-year price change: +$185,888 (+53.5%)
– Typical home value: $533,139 (#15 most expensive city in metro)
#23. Gila Bend, AZ
– 1-year price change: -$755 (-0.4%)
– 5-year price change: +$55,436 (+38.8%)
– Typical home value: $198,381 (#44 most expensive city in metro)
#22. Mesa, AZ
– 1-year price change: -$413 (-0.1%)
– 5-year price change: +$148,790 (+51.8%)
– Typical home value: $436,165 (#22 most expensive city in metro)
#21. Tolleson, AZ
– 1-year price change: -$352 (-0.1%)
– 5-year price change: +$157,181 (+65.0%)
– Typical home value: $398,861 (#30 most expensive city in metro)
#20. Chandler, AZ
– 1-year price change: +$117 (+0.0%)
– 5-year price change: +$176,995 (+50.4%)
– Typical home value: $528,421 (#16 most expensive city in metro)
#19. Eloy, AZ
– 1-year price change: +$158 (+0.1%)
– 5-year price change: +$98,109 (+57.0%)
– Typical home value: $270,235 (#42 most expensive city in metro)
#18. Apache Junction, AZ
– 1-year price change: +$709 (+0.2%)
– 5-year price change: +$138,690 (+57.8%)
– Typical home value: $378,679 (#33 most expensive city in metro)
#17. Wickenburg, AZ
– 1-year price change: +$1,989 (+0.4%)
– 5-year price change: +$179,734 (+49.9%)
– Typical home value: $540,204 (#13 most expensive city in metro)
#16. Gilbert, AZ
– 1-year price change: +$2,116 (+0.4%)
– 5-year price change: +$205,889 (+55.9%)
– Typical home value: $574,413 (#11 most expensive city in metro)
#15. Waddell, AZ
– 1-year price change: +$2,442 (+0.4%)
– 5-year price change: +$202,173 (+58.9%)
– Typical home value: $545,278 (#12 most expensive city in metro)
#14. Rio Verde, AZ
– 1-year price change: +$3,349 (+0.4%)
– 5-year price change: +$290,505 (+53.1%)
– Typical home value: $837,903 (#5 most expensive city in metro)
#13. Arlington, AZ
– 1-year price change: +$5,161 (+1.3%)
– 5-year price change: +$290,505 (data not available)
– Typical home value: $394,752 (#31 most expensive city in metro)
#12. Miami, AZ
– 1-year price change: +$5,433 (+4.3%)
– 5-year price change: +$16,264 (+14.1%)
– Typical home value: $131,815 (#48 most expensive city in metro)
#11. Anthem, AZ
– 1-year price change: +$6,287 (+1.1%)
– 5-year price change: +$218,687 (+61.1%)
– Typical home value: $576,730 (#10 most expensive city in metro)
#10. Queen Creek, AZ
– 1-year price change: +$6,837 (+1.1%)
– 5-year price change: +$239,749 (+60.4%)
– Typical home value: $636,990 (#9 most expensive city in metro)
#9. Scottsdale, AZ
– 1-year price change: +$8,499 (+1.0%)
– 5-year price change: +$316,858 (+61.0%)
– Typical home value: $836,034 (#6 most expensive city in metro)
#8. Fountain Hills, AZ
– 1-year price change: +$9,993 (+1.5%)
– 5-year price change: +$227,713 (+52.2%)
– Typical home value: $663,669 (#8 most expensive city in metro)
#7. New River, AZ
– 1-year price change: +$11,443 (+1.5%)
– 5-year price change: +$289,044 (+61.1%)
– Typical home value: $761,951 (#7 most expensive city in metro)
#6. Tonopah, AZ
– 1-year price change: +$13,237 (+3.4%)
– 5-year price change: +$163,228 (+67.8%)
– Typical home value: $403,911 (#26 most expensive city in metro)
#5. Aguila, AZ
– 1-year price change: +$18,583 (+4.3%)
– 5-year price change: +$163,228 (data not available)
– Typical home value: $449,750 (#21 most expensive city in metro)
#4. Fort McDowell, AZ
– 1-year price change: +$22,054 (+2.2%)
– 5-year price change: +$348,510 (+51.2%)
– Typical home value: $1,028,934 (#4 most expensive city in metro)
#3. Carefree, AZ
– 1-year price change: +$25,532 (+2.1%)
– 5-year price change: +$506,990 (+66.8%)
– Typical home value: $1,265,994 (#2 most expensive city in metro)
#2. Cave Creek, AZ
– 1-year price change: +$26,138 (+2.5%)
– 5-year price change: +$434,716 (+70.1%)
– Typical home value: $1,054,581 (#3 most expensive city in metro)
#1. Paradise Valley, AZ
– 1-year price change: +$310,996 (+10.6%)
– 5-year price change: +$1,585,968 (+95.2%)
– Typical home value: $3,252,345 (#1 most expensive city in metro)
