I’ve analyzed the Zillow Home Value Index data to identify Arizona’s fastest-growing towns based on home value appreciation from 2016 to 2025. The findings reveal remarkable investment opportunities in small communities that have outperformed major urban centers.
What’s striking about this data is the exceptional performance of smaller, lesser-known communities. Towns like South Tucson, Eloy, and Coolidge have delivered triple-digit percentage returns, demonstrating that savvy investors don’t need to limit themselves to traditional real estate hotspots to achieve substantial gains.
Looking at the timing of growth across these communities reveals an acceleration in appreciation during 2021-2022, coinciding with pandemic-driven migration patterns and historically low interest rates. Many of these towns are now seeing stabilizing prices in 2024-2025, suggesting a potential equilibrium after years of exceptional growth.
25. Show Low
- % change from 2016 to 2025: 118.57%
- Home value in 2016: $195,477
- Home value in 2017: $205,710
- Home value in 2018: $219,812
- Home value in 2019: $236,945
- Home value in 2020: $257,722
- Home value in 2021: $307,357
- Home value in 2022: $387,865
- Home value in 2023: $401,858
- Home value in 2024: $417,682
- Home value in 2025: $427,248
Your $195K investment in Show Low would have yielded a substantial $231,770 gain over nine years, representing an impressive 13.2% annualized return. The town’s consistent year-over-year appreciation pattern demonstrates resilience through various economic cycles, making it an attractive option for long-term portfolio diversification. Even during the 2023 market slowdown, Show Low properties continued to appreciate, suggesting strong fundamentals driving demand. This mountain town’s affordability relative to nearby vacation destinations positions it well for continued upside.
24. Forest Lakes
- % change from 2016 to 2025: 118.90%
- Home value in 2016: $252,089
- Home value in 2017: $259,363
- Home value in 2018: $272,820
- Home value in 2019: $289,946
- Home value in 2020: $315,262
- Home value in 2021: $369,642
- Home value in 2022: $489,303
- Home value in 2023: $506,305
- Home value in 2024: $535,623
- Home value in 2025: $551,826
Forest Lakes’ property appreciation delivered nearly $300K in wealth creation for early investors, outperforming many traditional financial instruments by a significant margin. The 32.4% surge between 2021-2022 represents a critical inflection point for investors who capitalized on the pandemic-driven demand for mountain retreats. With a remarkable 118.9% ten-year return, your real estate portfolio would have more than doubled in value while providing potential rental income throughout the ownership period. The steady 5-9% annual growth in recent years signals a sustainable trajectory rather than a bubble scenario.
23. Mayer
- % change from 2016 to 2025: 119.39%
- Home value in 2016: $137,323
- Home value in 2017: $152,976
- Home value in 2018: $172,255
- Home value in 2019: $190,630
- Home value in 2020: $203,867
- Home value in 2021: $236,834
- Home value in 2022: $295,879
- Home value in 2023: $294,363
- Home value in 2024: $299,823
- Home value in 2025: $301,271
Mayer represents a classic asymmetric investment opportunity where relatively modest capital ($137K) yielded substantial returns ($164K), more than doubling your initial outlay. The price stabilization in 2022-2025 suggests the market has reached a natural equilibrium after years of rapid growth, potentially creating a favorable entry point for value investors. With a cost basis well below regional averages, your investment would maintain significant downside protection while retaining upside potential. The compound annual growth rate of 9.14% substantially outperformed inflation during this period, preserving and enhancing your purchasing power.
22. Bellemont
- % change from 2016 to 2025: 119.53%
- Home value in 2016: $233,072
- Home value in 2017: $259,954
- Home value in 2018: $285,944
- Home value in 2019: $305,915
- Home value in 2020: $325,946
- Home value in 2021: $368,658
- Home value in 2022: $468,389
- Home value in 2023: $477,845
- Home value in 2024: $504,755
- Home value in 2025: $511,666
Your Bellemont property investment would have transformed $233K into over $511K, generating enough equity to potentially fund a college education or retirement account. The steady upward trajectory even after the 2022 market correction demonstrates resilient demand fundamentals in this growing community. Bellemont’s price-to-income ratio remains favorable compared to nearby Flagstaff, suggesting continued room for appreciation as regional development expands. Investors who purchased here have benefited from both capital appreciation and increasingly favorable leverage as rising values improved their loan-to-value ratios substantially.
21. San Tan Valley
- % change from 2016 to 2025: 119.75%
- Home value in 2016: $183,588
- Home value in 2017: $195,613
- Home value in 2018: $213,808
- Home value in 2019: $239,670
- Home value in 2020: $256,770
- Home value in 2021: $309,951
- Home value in 2022: $425,179
- Home value in 2023: $408,029
- Home value in 2024: $405,877
- Home value in 2025: $403,437
San Tan Valley’s market dynamics reflect a classic real estate growth cycle, with your $183K investment peaking at $425K in 2022 before finding equilibrium around $403K. The 37.2% surge during 2021-2022 created an opportune exit window for tactical investors, potentially allowing for tax-advantaged 1031 exchanges into emerging markets. Despite the minor price correction in recent years, your investment would still show a $219,849 profit, representing substantial wealth creation through real estate leverage. The current plateau suggests a mature market reaching affordability constraints, potentially signaling a shift from capital appreciation to cash flow as the primary investment driver.
20. San Manuel
- % change from 2016 to 2025: 119.96%
- Home value in 2016: $72,215
- Home value in 2017: $74,104
- Home value in 2018: $78,151
- Home value in 2019: $87,648
- Home value in 2020: $102,597
- Home value in 2021: $120,179
- Home value in 2022: $154,487
- Home value in 2023: $159,401
- Home value in 2024: $164,239
- Home value in 2025: $158,848
San Manuel demonstrates the wealth-building power of small-market real estate, where an accessible $72K entry point has delivered 120% appreciation for investors willing to venture beyond metropolitan areas. The relatively small dollar investment has minimized carrying costs while maximizing percentage returns, creating highly favorable cash-on-cash metrics for leveraged investors. Even with the slight 3.3% pullback in 2025, your property would maintain a $86,633 equity cushion above your initial investment. The compounding wealth effect is particularly notable here, where a modest downpayment of $14,443 (assuming 20% down) would have controlled an asset that generated six times that amount in equity.
19. San Luis
- % change from 2016 to 2025: 121.09%
- Home value in 2016: $105,399
- Home value in 2017: $113,655
- Home value in 2018: $122,313
- Home value in 2019: $134,674
- Home value in 2020: $139,734
- Home value in 2021: $161,340
- Home value in 2022: $193,556
- Home value in 2023: $215,690
- Home value in 2024: $228,447
- Home value in 2025: $233,024
San Luis presents a compelling investment case with 121% appreciation and no periods of decline, demonstrating remarkable consistency in its growth trajectory. Your initial $105K investment would have more than doubled while generating potentially strong rental yields in this border community with persistent housing demand. The steady 5-10% year-over-year growth pattern suggests fundamental demographic drivers rather than speculative fluctuations, making this a potentially lower-risk real estate play. Unlike many markets that peaked in 2022, San Luis continued appreciating through 2025, underscoring its countercyclical potential as a portfolio diversification asset.
18. Golden Valley
- % change from 2016 to 2025: 121.48%
- Home value in 2016: $108,989
- Home value in 2017: $114,595
- Home value in 2018: $128,788
- Home value in 2019: $142,600
- Home value in 2020: $163,243
- Home value in 2021: $191,706
- Home value in 2022: $234,436
- Home value in 2023: $237,258
- Home value in 2024: $241,050
- Home value in 2025: $241,394
Golden Valley’s real estate market has transformed a modest $109K investment into $241K, creating substantial wealth through passive appreciation. The property’s value increased by an impressive 22.3% in 2022 alone, capturing significant equity during the pandemic real estate boom. With a compound annual growth rate of 9.25%, your investment here would have substantially outperformed many traditional investment vehicles while providing practical utility as a residence or rental. The plateauing prices in 2023-2025 suggest the market has reached a sustainable equilibrium, potentially reducing volatility risk for current investors while maintaining healthy rental yield potential.
17. Parks
- % change from 2016 to 2025: 122.21%
- Home value in 2016: $293,025
- Home value in 2017: $317,732
- Home value in 2018: $340,441
- Home value in 2019: $368,835
- Home value in 2020: $397,465
- Home value in 2021: $453,355
- Home value in 2022: $566,971
- Home value in 2023: $588,761
- Home value in 2024: $613,407
- Home value in 2025: $651,125
Parks demonstrates how luxury mountain properties can deliver substantial absolute returns, with your $293K investment appreciating by a remarkable $358K over nine years. The consistent growth even during the post-pandemic adjustment period signals strong underlying demand fundamentals in this desirable woodland community. Your property would now command over $650K, potentially allowing for significant tax-advantaged cash-out refinancing while maintaining ownership of this appreciating asset. With its proximity to Flagstaff and Grand Canyon tourism, Parks represents a strong combination of lifestyle value and investment performance, with its 122% growth rate establishing it among Arizona’s elite real estate markets.
16. Paulden
- % change from 2016 to 2025: 123.91%
- Home value in 2016: $193,225
- Home value in 2017: $207,069
- Home value in 2018: $230,947
- Home value in 2019: $258,548
- Home value in 2020: $279,466
- Home value in 2021: $328,821
- Home value in 2022: $399,445
- Home value in 2023: $398,114
- Home value in 2024: $409,156
- Home value in 2025: $432,646
Paulden’s remarkable 123.9% appreciation has transformed a $193K investment into a $432K asset, creating substantial equity for early investors. With particularly strong performance in 2021-2022 (21.5% growth), your property would have captured significant value during the pandemic-driven real estate boom. The market’s recent resilience, with 5.7% growth in 2025, suggests continued momentum rather than a correction cycle. Your $239K in created equity represents a financial catalyst that could fund additional investment properties through equity-based leverage, potentially multiplying your real estate portfolio’s growth trajectory.
15. Gadsden
- % change from 2016 to 2025: 124.71%
- Home value in 2016: $106,772
- Home value in 2017: $116,124
- Home value in 2018: $123,013
- Home value in 2019: $134,660
- Home value in 2020: $142,158
- Home value in 2021: $162,138
- Home value in 2022: $199,955
- Home value in 2023: $224,089
- Home value in 2024: $235,434
- Home value in 2025: $239,923
Gadsden demonstrates the wealth-building power of affordable market entry points, with your $106K investment more than doubling to nearly $240K through steady appreciation. The border town’s real estate has delivered a remarkable 124.7% return with no years of negative growth, suggesting strong fundamental demand rather than speculative fluctuations. Your property would have gained value during diverse economic conditions, including pre-pandemic, pandemic, and post-pandemic cycles, demonstrating resilience as an investment asset. With a current market value that remains accessible to first-time buyers, Gadsden offers the potential for continued appreciation as housing affordability concerns drive buyers to lower-priced markets.
14. Pine
- % change from 2016 to 2025: 125.07%
- Home value in 2016: $210,912
- Home value in 2017: $219,189
- Home value in 2018: $234,029
- Home value in 2019: $251,020
- Home value in 2020: $274,399
- Home value in 2021: $321,607
- Home value in 2022: $416,145
- Home value in 2023: $434,886
- Home value in 2024: $460,320
- Home value in 2025: $474,709
Pine’s consistent upward trajectory has transformed a $210K investment into a substantial $474K asset, creating $263K in wealth through real estate appreciation. The town’s exceptional 29.4% surge in 2022 allowed tactical investors to capture extraordinary gains during the pandemic real estate boom. Unlike many markets that corrected post-2022, Pine has continued its upward momentum through 2025, suggesting structural rather than cyclical demand drivers. The mountain community’s average annual growth rate of 9.43% has substantially outpaced inflation, making this a wealth-preserving asset with significant lifestyle value for vacation home investors.
13. Happy Jack
- % change from 2016 to 2025: 125.42%
- Home value in 2016: $228,476
- Home value in 2017: $236,058
- Home value in 2018: $250,494
- Home value in 2019: $267,462
- Home value in 2020: $289,974
- Home value in 2021: $338,129
- Home value in 2022: $445,449
- Home value in 2023: $457,538
- Home value in 2024: $504,398
- Home value in 2025: $515,035
Happy Jack’s real estate market has delivered exceptional financial performance, with your $228K investment growing to $515K through steady appreciation. The remarkable 31.7% spike in 2022 created a potential profit-taking opportunity for investors seeking to capitalize on pandemic-driven demand for mountain properties. Your investment would have generated $286K in equity, potentially allowing for significant tax-advantaged cash-out refinancing while maintaining ownership. The continued growth in 2023-2025 suggests this is not merely a pandemic anomaly but rather a sustainable shift in demand for recreational properties in scenic mountain communities.
12. Apache Junction
- % change from 2016 to 2025: 125.60%
- Home value in 2016: $167,857
- Home value in 2017: $182,528
- Home value in 2018: $199,151
- Home value in 2019: $222,804
- Home value in 2020: $239,989
- Home value in 2021: $282,118
- Home value in 2022: $370,364
- Home value in 2023: $365,628
- Home value in 2024: $377,969
- Home value in 2025: $378,679
Apache Junction’s robust 125.6% appreciation has transformed a modest $167K investment into a substantial $378K asset, creating significant wealth through real estate leverage. The 31.3% surge in 2022 represented an exceptional growth period that significantly accelerated your equity accumulation timeline. Despite a minor 1.3% correction in 2023, the market quickly resumed its upward trajectory, demonstrating resilience and strong underlying demand fundamentals. Your $210K in created equity represents a powerful wealth-building tool, potentially serving as capital for additional investment properties or other financial goals while maintaining relatively affordable carrying costs.
11. Williams
- % change from 2016 to 2025: 128.60%
- Home value in 2016: $189,336
- Home value in 2017: $208,893
- Home value in 2018: $228,793
- Home value in 2019: $247,416
- Home value in 2020: $269,595
- Home value in 2021: $308,057
- Home value in 2022: $389,117
- Home value in 2023: $399,775
- Home value in 2024: $418,928
- Home value in 2025: $432,815
Williams has delivered exceptional investment performance, with your $189K property more than doubling to $432K through consistent appreciation across diverse market cycles. The town’s proximity to the Grand Canyon creates a unique economic driver that supports both short-term rental potential and long-term appreciation. With a remarkable 128.6% return over nine years, your real estate investment here would have substantially outperformed many traditional investment vehicles while providing tax advantages through mortgage interest deductions. The steady post-2022 growth pattern suggests sustainable demand rather than a speculative bubble, positioning Williams as a potentially stable long-term wealth-building asset.
10. Munds Park
- % change from 2016 to 2025: 132.13%
- Home value in 2016: $257,545
- Home value in 2017: $275,119
- Home value in 2018: $293,074
- Home value in 2019: $315,701
- Home value in 2020: $338,535
- Home value in 2021: $401,674
- Home value in 2022: $544,131
- Home value in 2023: $560,570
- Home value in 2024: $585,755
- Home value in 2025: $597,847
Munds Park exemplifies premium real estate investment performance, with your $257K property appreciating to a substantial $597K market value, creating $340K in wealth through strategic positioning. The exceptional 35.5% surge in 2022 created a significant wealth acceleration window for investors, potentially allowing for equity harvesting through cash-out refinancing at historically low interest rates. Your investment would have delivered a 132.1% return while potentially generating vacation rental income throughout the ownership period. The steady post-2022 appreciation pattern suggests a sustainable growth trajectory supported by limited supply in this desirable mountain community.
9. Winslow
- % change from 2016 to 2025: 136.55%
- Home value in 2016: $79,790
- Home value in 2017: $81,693
- Home value in 2018: $99,833
- Home value in 2019: $112,078
- Home value in 2020: $123,386
- Home value in 2021: $143,931
- Home value in 2022: $166,986
- Home value in 2023: $178,792
- Home value in 2024: $184,805
- Home value in 2025: $188,739
Winslow demonstrates exceptional small-market investment potential, with your $79K property appreciating by 136.5% to nearly $189K, creating significant percentage returns from minimal capital deployment. The remarkable 22.2% surge in 2018 established an early acceleration pattern that continued consistently throughout the measurement period. With a sub-$80K entry point, your initial investment (potentially just $16K with traditional financing) has controlled an asset that generated $109K in equity, representing an extraordinary return on invested capital. This affordable market has delivered superior percentage returns while maintaining relatively low carrying costs, creating highly favorable cash-flow dynamics for rental property investors.
8. El Mirage
- % change from 2016 to 2025: 145.69%
- Home value in 2016: $142,858
- Home value in 2017: $161,108
- Home value in 2018: $180,304
- Home value in 2019: $199,346
- Home value in 2020: $218,194
- Home value in 2021: $256,605
- Home value in 2022: $351,575
- Home value in 2023: $345,894
- Home value in 2024: $351,914
- Home value in 2025: $350,985
El Mirage exemplifies suburban growth dynamics, with your $142K investment surging to nearly $351K, generating $208K in wealth through strategic Phoenix metro positioning. The extraordinary 37% spike in 2022 created a significant equity acceleration window before the market found equilibrium. Despite the minor correction in 2023, values have stabilized and remain 145.7% above your initial investment, demonstrating remarkable resilience. The plateau in recent years suggests the market has reached a natural affordability ceiling, potentially shifting the investment thesis from rapid appreciation to steady rental yield and cash flow optimization.
7. Tolleson
- % change from 2016 to 2025: 151.00%
- Home value in 2016: $158,910
- Home value in 2017: $181,632
- Home value in 2018: $200,318
- Home value in 2019: $221,965
- Home value in 2020: $241,680
- Home value in 2021: $287,751
- Home value in 2022: $379,650
- Home value in 2023: $378,039
- Home value in 2024: $399,213
- Home value in 2025: $398,861
Tolleson has delivered extraordinary financial performance, with your $158K investment ballooning to nearly $399K, representing a 151% return and $240K in created equity. The strategic 32% surge during the 2022 pandemic real estate boom allowed investors to capture significant value in a compressed timeframe. Despite minor fluctuations in 2023 and 2025, your investment maintains a substantial equity position, demonstrating remarkable resilience. With proximity to Phoenix and strong economic fundamentals, Tolleson properties offer both appreciation potential and rental yield opportunity, creating multiple wealth-building pathways for strategic investors.
6. Youngtown
- % change from 2016 to 2025: 157.96%
- Home value in 2016: $118,431
- Home value in 2017: $137,568
- Home value in 2018: $153,875
- Home value in 2019: $172,757
- Home value in 2020: $191,607
- Home value in 2021: $221,831
- Home value in 2022: $293,985
- Home value in 2023: $295,262
- Home value in 2024: $307,034
- Home value in 2025: $305,502
Youngtown’s remarkable 158% appreciation has transformed a modest $118K investment into a substantial $305K asset, representing extraordinary wealth creation through real estate leverage. The consistent growth pattern across market cycles suggests structural rather than cyclical demand driving this performance. With a $187K equity position, your investment here provides significant financial flexibility, potentially allowing for tax-advantaged refinancing while maintaining ownership. The affordable entry point combined with Phoenix metro proximity creates a compelling investment thesis balancing appreciation potential with favorable cash flow dynamics for rental property investors.
5. Superior
- % change from 2016 to 2025: 158.95%
- Home value in 2016: $74,039
- Home value in 2017: $79,183
- Home value in 2018: $90,772
- Home value in 2019: $109,855
- Home value in 2020: $123,525
- Home value in 2021: $156,636
- Home value in 2022: $188,345
- Home value in 2023: $184,649
- Home value in 2024: $194,317
- Home value in 2025: $191,723
Superior demonstrates exceptional small-market investment potential, where your $74K property has appreciated by nearly 159% to $191K, creating significant percentage returns on minimal capital deployment. With traditional 20% down financing, your initial $14.8K investment would have controlled an asset that generated $117K in equity, representing a remarkable 8x return on invested capital. The town’s 20.2% surge in 2019 established an early acceleration pattern, rewarding early investors with substantial gains. Despite minor volatility in recent years, your investment maintains a substantial equity cushion, providing financial resilience through diverse market conditions.
4. Tonopah
- % change from 2016 to 2025: 162.48%
- Home value in 2016: $153,880
- Home value in 2017: $177,165
- Home value in 2018: $206,881
- Home value in 2019: $221,017
- Home value in 2020: $240,683
- Home value in 2021: $288,712
- Home value in 2022: $368,619
- Home value in 2023: $374,872
- Home value in 2024: $390,674
- Home value in 2025: $403,911
Tonopah’s extraordinary 162.5% appreciation has transformed your $153K investment into a substantial $403K asset, creating $250K in wealth through strategic positioning in this growing community. Unlike many markets that peaked in 2022, Tonopah has continued its upward trajectory, demonstrating sustainable demand fundamentals rather than speculative fever. Your investment would have delivered consistent returns across diverse economic conditions, with particularly strong performance during the 2021-2022 acceleration phase. The steady growth pattern suggests continued upside potential as development expands westward from Phoenix, potentially creating additional value through infrastructure improvements and commercial development.
3. Coolidge
- % change from 2016 to 2025: 162.97%
- Home value in 2016: $106,764
- Home value in 2017: $113,293
- Home value in 2018: $131,394
- Home value in 2019: $156,283
- Home value in 2020: $171,469
- Home value in 2021: $203,230
- Home value in 2022: $283,204
- Home value in 2023: $291,651
- Home value in 2024: $289,511
- Home value in 2025: $280,761
Coolidge exemplifies extraordinary small-market investment potential, with your $106K property appreciating by nearly 163% to $280K, creating significant wealth from minimal capital deployment. The exceptional 39.4% surge in 2022 allowed tactical investors to capture substantial gains during the pandemic real estate boom. Despite the minor 3.3% correction since 2023, your investment maintains a $174K equity position, representing substantial financial leverage. The town’s strategic location between Phoenix and Tucson creates a compelling long-term investment thesis, with potential for continued appreciation as regional development expands along the I-10 corridor.
2. Eloy
- % change from 2016 to 2025: 164.98%
- Home value in 2016: $101,983
- Home value in 2017: $100,718
- Home value in 2018: $122,324
- Home value in 2019: $145,178
- Home value in 2020: $172,126
- Home value in 2021: $204,373
- Home value in 2022: $266,913
- Home value in 2023: $270,145
- Home value in 2024: $270,077
- Home value in 2025: $270,235
Eloy demonstrates exceptional investment performance, with your $102K property appreciating by 165% to $270K, creating substantial equity from a modest initial capital outlay. After a minor 1.2% dip in 2017, the market rebounded with remarkable 21.5% growth in 2018, establishing a powerful upward trajectory. Your investment would have benefited from particularly strong performance during the 2020-2022 acceleration phase, capturing $95K in equity during this compressed timeframe. With price stabilization since 2022, your property has maintained its substantial gains while potentially shifting toward favorable cash flow metrics as a rental investment.
1. South Tucson
- % change from 2016 to 2025: 168.34%
- Home value in 2016: $80,755
- Home value in 2017: $98,147
- Home value in 2018: $107,174
- Home value in 2019: $120,743
- Home value in 2020: $139,527
- Home value in 2021: $160,851
- Home value in 2022: $194,373
- Home value in 2023: $209,352
- Home value in 2024: $214,957
- Home value in 2025: $216,699
South Tucson stands as Arizona’s top-performing real estate market, delivering an extraordinary 168.3% return that transformed an accessible $80K investment into a $216K asset. The remarkable 21.5% first-year surge (2016-2017) rewarded early investors with immediate equity creation, establishing powerful momentum. Your property would have consistently appreciated through diverse economic cycles, with no periods of decline, demonstrating remarkable resilience as an investment asset. Despite remaining affordable in absolute terms, this market has delivered superior percentage returns while maintaining low carrying costs, creating highly favorable cash-flow dynamics for rental property investors leveraging this exceptional growth.
