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These days, finding an affordable place to live in the Downtown Phoenix area can be challenging. Home prices in Downtown Phoenix are now at a median cost of $329,439, lower than the Phoenix average of $470,578.
The average cost of rent is $1,317/mo in Downtown Phoenix, primarily driven by the current value of real estate in the Downtown Phoenix area. In Downtown Phoenix, 79.30% of households rent, and 42.53% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Downtown Phoenix is $4,381 per month. Households that rent pay about 30.07% of their income on rent here. Downtown Phoenix’s most expensive areas are in the central regions, while the cheapest areas are in the southwestern parts of the neighborhood.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Neighborhoods
- Central Phoenix, Phoenix, AZ: higher priced homes
- Encanto, Phoenix, AZ: higher priced homes
- Bronze Boot, Phoenix, AZ: higher priced homes
- Camelback East, Phoenix, AZ: higher priced homes
- South Mountain, Phoenix, AZ: equally priced homes
- South Phoenix, Phoenix, AZ: higher priced homes
- Sunset, Tempe, AZ: equally priced homes
- West Phoenix, Phoenix, AZ: less expensive homes
- Riverside, Tempe, AZ: higher priced homes
- Alahambra, Phoenix, AZ: equally priced homes
Neighborhoods with Similar Populations
- Ypsilanti Historic District, Ypsilanti, MI: less expensive homes
- Jardines del Caribe, Ponce, PR: less expensive homes
- Wilmington Historic District, Wilmington, OH: less expensive homes
- Hawthorne, Middle River, MD: less expensive homes
- Pleasant Acres, New Milford, NJ: higher priced homes
- East Carollton, New Orleans, LA: higher priced homes
- Downtown Village of Holly, Holly, MI: less expensive homes
- College Hills, San Angelo, TX: less expensive homes
- Cedar-Isles-Dean, Minneapolis, MN: higher priced homes
- Seven Oaks, Bakersfield, CA: higher priced homes
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