Market Overview
Home Prices in Forest Lakes, AZ
The median home value in Forest Lakes, AZ is $559,170 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.2% compared to a year ago and up 0.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Forest Lakes are priced36% above average. Forest Lakes is part of the Flagstaff, AZ metro area.
Over the past five years, Forest Lakes home values have risen by approximately34.5%, reflecting strong long-term appreciation in this market.
Price History
Forest Lakes Home Price Trend
City Comparison
Forest Lakes vs. National Median
At $559,170, homes in Forest Lakes cost 36% above the national median of $410,000. Buyers in Forest Lakes should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Forest Lakes?
20% Down Payment
$111,834
on $559,170
Monthly P&I
$2,916/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,703/mo
incl. taxes & insurance
Income Needed
$148,120
gross annual (30% rule)
10% Down Option
$55,917
+ PMI applies
Loan Amount (20% dn)
$447,336
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Forest Lakes, AZ?
The median home value in Forest Lakes is $559,170 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.2% year-over-year.
How much have home prices changed in Forest Lakes?
Over the past year, home values in Forest Lakes have increased by 0.2%. Over five years, prices have risen approximately 34.5%.
How much do I need to earn to buy a home in Forest Lakes?
To comfortably afford the median home price of $559,170 with a 20% down payment ($111,834) at today's rates (6.8%), you'd need a gross annual income of approximately $148,120. This assumes keeping total housing costs at or below 30% of gross income.
How does Forest Lakes compare to the national average home price?
The national median home value is approximately $410,000. At $559,170, homes in Forest Lakes are 36% above the national average.
What metro area is Forest Lakes part of?
Forest Lakes is part of the Flagstaff, AZ metropolitan area. Home prices and market conditions can vary across the broader metro region.