Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Phoenix area can be challenging. Home prices in Phoenix are now at a median cost of $309,208, higher than the Arizona average of $274,828.
The average cost of rent is $1,473/mo in Phoenix, primarily driven by the current value of real estate in the Phoenix area. While nearly 34.35% of residents own their homes outright in Phoenix, 33.72% rent.
Housing affordability isn’t just about home prices, though. The average household income in Phoenix is $6,804 per month. Households that rent pay about 21.65% of their income on rent here. Phoenix's most expensive areas are in the northern regions, while the cheapest areas are in the southwestern parts of the city.
Nearby Cities
- Glendale, AZ: less expensive homes
- Paradise Valley, AZ: higher priced homes
- Scottsdale, AZ: higher priced homes
- Tolleson, AZ: less expensive homes
- Peoria, AZ: equally priced homes
- Youngtown, AZ: less expensive homes
- Sun City, AZ: less expensive homes
- Avondale, AZ: less expensive homes
- El Mirage, AZ: less expensive homes
- Luke Afb, AZ: equally priced homes
Cities with Similar Populations
- Brick, NJ: equally priced homes
- Brockton, MA: equally priced homes
- Bloomington, MN: equally priced homes
- Bloomington, IN: less expensive homes
- Bryan, TX: less expensive homes
- Brighton, CO: higher priced homes
- Bozeman, MT: higher priced homes
- Boynton Beach, FL: equally priced homes
- Bowling Green, KY: less expensive homes
- Bethlehem, PA: less expensive homes
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