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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 $150,019, lower than the Mississippi average of $183,008.
The average cost of rent is $1,000/mo in Phoenix, primarily driven by the current value of real estate in the Phoenix area. In Phoenix, 20.16% of households rent, and 42.46% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Phoenix is $7,241 per month. Households that rent pay about 13.81% of their income on rent here. Phoenix’s most expensive areas are in the eastern regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Mechanicsburg, MS: equally priced homes
- Eldorado, MS: less expensive homes
- Satartia, MS: equally priced homes
- Nevada, MS: higher priced homes
- Little Yazoo, MS: equally priced homes
- Oil City, MS: higher priced homes
- Brownsville, MS: higher priced homes
- Haynes Bluff, MS: higher priced homes
- Bentonia, MS: higher priced homes
- Bovina, MS: higher priced homes
Cities with Similar Populations
- Grosvenor, TX: less expensive homes
- Sweet Briar, VA: higher priced homes
- Swanburg, MN: higher priced homes
- Holman, NM: equally priced homes
- Hannibal Center, NY: equally priced homes
- Hamlin, VA: less expensive homes
- Hamlet, NE: less expensive homes
- Hagedorns Mills, NY: higher priced homes
- Hadlyme, CT: higher priced homes
- Hadley, MN: higher priced homes
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