Forest Lakes, AZ housing market
The typical Forest Lakes home is worth about $548,000, up 0.6% in a year, 31% above the Arizona typical home.
Home values, sales, trends and how Forest Lakes compares with the towns next door — updated as new data is published.
Forest Lakes at a glance
Only 1 sale in February 2026: in a market this size, monthly medians swing a lot, so the typical value above is the steadier guide.
Typical home value, 2016–2026
Show as a table
| January | Forest Lakes | Arizona |
|---|---|---|
| 2017 | $253,000 | $228,000 |
| 2018 | $268,000 | $244,000 |
| 2019 | $283,000 | $264,000 |
| 2020 | $307,000 | $282,000 |
| 2021 | $357,000 | $324,000 |
| 2022 | $472,000 | $416,000 |
| 2023 | $500,000 | $429,000 |
| 2024 | $527,000 | $433,000 |
| 2025 | $541,000 | $434,000 |
| 2026 | $557,000 | $423,000 |
| August 2026 | $548,000 | $418,000 |
A two-bedroom rents for about $1,750
HUD's Fair Market Rent for a two-bedroom in Forest Lakes is $1,750 a month, utilities included: roughly what a modest, recently rented unit costs.
Studio $1,410 · 4 bedrooms $2,400
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (85931; Flagstaff, AZ MSA), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, February 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.