Which of the following factors can affect property values?

Property values are influenced by a multitude of factors, making the choice highlighting location, condition, zoning, market trends, and economic factors the most comprehensive and accurate.

Location is often considered the foremost determinant of property value since it encompasses the property's proximity to amenities, schools, transportation, and its association with particular neighborhoods. The condition of a property, which includes its structural integrity, maintenance level, and aesthetic appeal, plays a significant role in how much buyers are willing to pay. Zoning laws affect what can be built or modified in a given area, directly impacting desirability and potential uses for a property. Additionally, market trends can shift rapidly due to economic conditions, interest rates, and buyer sentiment, shaping the overall demand for properties in specific areas. Economic factors also play a crucial role; a strong economy can drive up property values as more people seek housing, while economic downturns can have the opposite effect.

The other options, while they cite relevant aspects of value determination, do not encompass the full range of influences on property values as effectively as the chosen answer. For instance, focusing solely on location or condition and age does not take into account the broader economic context or zoning laws that can greatly affect value. Therefore, the answer emphasizing multiple factors provides