(Stacker) – 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 $349,216 in February, 4.2% 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, AZ metro area using data from Zillow. Cities are ranked by their one-year price change as of February 2024.
#30. Goodyear, AZ
- 1-year price change: +$5,675 (+1.2%)
- 5-year price change: +$178,350 (+59.4%)
- Typical home value: $478,741 (#19 most expensive city in metro)
#29. El Mirage, AZ
- 1-year price change: +$6,080 (+1.7%)
- 5-year price change: +$154,105 (+76.5%)
- Typical home value: $355,460 (#33 most expensive city in metro)
#28. Oracle, AZ
- 1-year price change: +$7,894 (+1.6%)
- 5-year price change: +$210,287 (+68.5%)
- Typical home value: $517,128 (#16 most expensive city in metro)
#27. Superior, AZ
- 1-year price change: +$8,485 (+5.2%)
- 5-year price change: +$74,128 (+76.9%)
- Typical home value: $170,543 (#42 most expensive city in metro)
#26. Avondale, AZ
- 1-year price change: +$8,489 (+2.1%)
- 5-year price change: +$168,038 (+70.8%)
- Typical home value: $405,245 (#26 most expensive city in metro)
#25. Gold Canyon, AZ
- 1-year price change: +$9,397 (+1.9%)
- 5-year price change: +$183,919 (+58.7%)
- Typical home value: $497,151 (#17 most expensive city in metro)
#24. Youngtown, AZ
- 1-year price change: +$11,872 (+4.0%)
- 5-year price change: +$135,413 (+77.7%)
- Typical home value: $309,631 (#37 most expensive city in metro)
#23. Mesa, AZ
- 1-year price change: +$11,985 (+2.8%)
- 5-year price change: +$171,350 (+65.1%)
- Typical home value: $434,369 (#21 most expensive city in metro)
#22. Apache Junction, AZ
- 1-year price change: +$12,323 (+3.4%)
- 5-year price change: +$154,947 (+69.6%)
- Typical home value: $377,438 (#31 most expensive city in metro)
#21. Peoria, AZ
- 1-year price change: +$12,403 (+2.6%)
- 5-year price change: +$189,855 (+62.7%)
- Typical home value: $492,673 (#18 most expensive city in metro)
#20. Phoenix, AZ
- 1-year price change: +$14,075 (+3.5%)
- 5-year price change: +$169,520 (+67.1%)
- Typical home value: $422,001 (#23 most expensive city in metro)
#19. Chandler, AZ
- 1-year price change: +$14,454 (+2.8%)
- 5-year price change: +$197,645 (+60.5%)
- Typical home value: $524,497 (#15 most expensive city in metro)
#18. Glendale, AZ
- 1-year price change: +$15,149 (+3.8%)
- 5-year price change: +$167,514 (+69.0%)
- Typical home value: $410,457 (#25 most expensive city in metro)
#17. Tonopah, AZ
- 1-year price change: +$15,599 (+4.2%)
- 5-year price change: +$167,476 (+76.8%)
- Typical home value: $385,652 (#30 most expensive city in metro)
#16. Litchfield Park, AZ
- 1-year price change: +$15,627 (+3.0%)
- 5-year price change: +$207,362 (+63.7%)
- Typical home value: $532,985 (#14 most expensive city in metro)
#15. Anthem, AZ
- 1-year price change: +$16,810 (+3.1%)
- 5-year price change: +$230,915 (+68.9%)
- Typical home value: $566,215 (#11 most expensive city in metro)
#14. Tempe, AZ
- 1-year price change: +$18,325 (+4.0%)
- 5-year price change: +$182,278 (+61.8%)
- Typical home value: $477,005 (#20 most expensive city in metro)
#13. Gilbert, AZ
- 1-year price change: +$20,131 (+3.6%)
- 5-year price change: +$227,147 (+65.4%)
- Typical home value: $574,570 (#10 most expensive city in metro)
#12. Tolleson, AZ
- 1-year price change: +$21,018 (+5.6%)
- 5-year price change: +$175,942 (+79.9%)
- Typical home value: $396,273 (#28 most expensive city in metro)
#11. Queen Creek, AZ
- 1-year price change: +$21,635 (+3.4%)
- 5-year price change: +$266,743 (+69.7%)
- Typical home value: $649,388 (#8 most expensive city in metro)
#10. Wickenburg, AZ
- 1-year price change: +$21,676 (+4.2%)
- 5-year price change: +$207,673 (+63.8%)
- Typical home value: $533,053 (#13 most expensive city in metro)
#9. Waddell, AZ
- 1-year price change: +$22,809 (+4.4%)
- 5-year price change: +$218,224 (+67.5%)
- Typical home value: $541,723 (#12 most expensive city in metro)
#8. Fountain Hills, AZ
- 1-year price change: +$23,094 (+3.7%)
- 5-year price change: +$239,533 (+58.8%)
- Typical home value: $646,904 (#9 most expensive city in metro)
#7. Rio Verde, AZ
- 1-year price change: +$24,004 (+3.0%)
- 5-year price change: +$314,810 (+62.2%)
- Typical home value: $820,912 (#5 most expensive city in metro)
#6. Scottsdale, AZ
- 1-year price change: +$36,886 (+4.8%)
- 5-year price change: +$324,876 (+67.4%)
- Typical home value: $807,104 (#6 most expensive city in metro)
#5. New River, AZ
- 1-year price change: +$45,726 (+6.6%)
- 5-year price change: +$297,636 (+68.1%)
- Typical home value: $734,647 (#7 most expensive city in metro)
#4. Fort McDowell, AZ
- 1-year price change: +$62,786 (+6.3%)
- 5-year price change: +$384,251 (+56.9%)
- Typical home value: $1,059,041 (#3 most expensive city in metro)
#3. Carefree, AZ
- 1-year price change: +$64,817 (+5.5%)
- 5-year price change: +$518,219 (+71.2%)
- Typical home value: $1,245,971 (#2 most expensive city in metro)
#2. Cave Creek, AZ
- 1-year price change: +$80,052 (+8.6%)
- 5-year price change: +$432,702 (+75.5%)
- Typical home value: $1,005,735 (#4 most expensive city in metro)
#1. Paradise Valley, AZ
- 1-year price change: +$200,167 (+6.4%)
- 5-year price change: +$1,473,576 (+79.4%)
- Typical home value: $3,328,470 (#1 most expensive city in metro)
This story features data reporting and writing by Elena Cox and is part of a series utilizing data automation across 380 metros.
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