Phoenix
Arizona · Ranked #72 of 102 metros
36Crisis
Median Home Price
🏠$440K
Need $126K income
Median Rent
🔑$2K
Need $64K income
Housing Shortage
📉120,000
units needed
Building Permits
🔨40,000
annual
Median Income
💰$68K
Pop: 4,946,145
Rent Burden
⚠️34.5%
of renters paying >30%
Price Change (YoY)
📈+3.5%
Homeownership
🏡64.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Phoenix | National |
|---|---|---|
| Price-to-Income Ratio | 6.4x | 6.1x |
| Rent Burden | 34.5% | 31.5% |
| Homeownership Rate | 64.0% | 65.5% |
| YoY Price Change | +3.5% | +3.5% |
| YoY Rent Change | +2% | +2.8% |
| Mortgage Denial Rate | 14.0% | 13.5% |
| Eviction Rate | 5.0% | 3.6% |