Those looking to live in downtown Tucson feel sticker shock

By Gabriela Rico | Arizona Daily Star 12 hrs ago

Prospective downtown dwellers are feeling sticker shock as home prices and rental rates in the city’s core continue to rise.

A limited inventory of homes for sale in the 85701 ZIP code has pushed prices up over 20 percent from last year. Rental rates in that ZIP code are the highest in the city and 13th highest in the state.

The Housing Report by Long Realty shows 85701 is the only ZIP code where home prices have increased by more than 20 percent from 2016.

Using a three-month trend, Long found the median price for a home downtown rose from $285,000 in 2016 to $357,000 this year, based on prices from April to June of both years, said Kevin Kaplan, Long’s vice president of marketing, technology and training.

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July 20, 2017

Housing, Tucson

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