This interactive chart visualizes data for Tucson, Aizona and the surrounding area. Tucson is a relatively affordable city for earners across the income spectrum, with a minimum wage of $11 / hour and a good housing affordability ratio for low-income workers. Tucson is generally considered well-balanced when comparing home prices to rental prices, which indicates a lower likelihood of a housing bubble based on current market conditions, as well as rental prices that aren't disproportionately high compared to buying.
The Zip Code with the highest percentage of homes owned free and clear? 85705 (Flowing Wells), with a whopping 52% of homes owned outright. 85747 (Rita Ranch) is the lowest, with only 19% of homes not subject to a mortgage. The Zip Code with the highest equity overall is 85718 (Catalina Foothills), with a total of $4.7 Billion in home equity (about the same as the Trust Fund for the State of Alabama).
The Walletwyse Home Equity Index estimates positive equity in owner-occupied homes for U.S. states, cities and Zip Codes. This includes median home values and mortgage balances, the percentage of homes owned free and clear, and aggregated total equity. The release schedule for our city maps is published here, along with the methodology for the index.
While you're here, calculate the cost of home ownership in your area with our progressive Home Purchase Calculator. Choose from Basic, Advanced or "Wyse" modes to understanding everything from the fundamentals to complex concepts like the opportunity cost of buying a home.
Our goal is the thoughtful curation of financial information to help you make informed, bias-free decisions, so Walletwyse is unaffiliated with lenders and brokerages.