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Phoenix

Learn about the people, housing, costs and businesses in Phoenix, Arizona

Median Home$437,493
Median Rent$1,716/month
Population1,641,839
Leading IndustriesHealthcare · Arts, Food & Hospitality · Manufacturing14% healthcare
Home Value Growth⬆⬆+12.1% over 2 years
Young Adults34% of residentswell above average
Homeowners57% of occupied units
NotableAmenity Score74/100 · highly walkable area
NotableTransit80/100 · excellent transit access
Phoenix
AZ

Frequently Asked Questions

What are today's mortgage rates in Phoenix?

As of today, the 30-year fixed mortgage rate for Phoenix is approximately 6.828% (6.841% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Phoenix?

The median home value in Phoenix is $437k. The median monthly rent is $1,716. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Phoenix?

Home values in Phoenix have increased 12.1% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Phoenix?

Based on a typical all-in ownership cost of $1,542/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $66k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Phoenix is $86k/year.

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What industries drive the economy in Phoenix?

The largest employment sectors in Phoenix are public administration (22%) and healthcare (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.