By Joanne Drilling and Mignon A. Gould | Phoenix Business Journal (abridged)
The initial version of the federal Opportunity Zones program was expected to fuel activity in often-overlooked areas.
In terms of property values, many of the 89 designated Opportunity Zones in Arizona have seen elevated price growth compared to the broader real estate market.
That’s according to an analysis from land and property data aggregator ATTOM, which found that nationally, median single-family home and condo prices rose year-over-year in 54.6% of the Opportunity Zones analyzed — the same rate as occurred in tracts that weren’t part of the program.
In Arizona, home prices in 60.5% of the Opportunity Zones increased year-over-year in the third quarter of 2025. The analysis looked at 3,266 Opportunity Zone tracts across the country, out of 8,764 total Opportunity Zones. Roughly 5,500 tracts did not record enough single-family sales activity to be considered in the study, while other tracts had incomplete data.
See more (subscriber content)
Some stories may only appear as partial reprints because of publisher restrictions.