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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 $187,733, lower than the New York average of $610,895.
The average cost of rent is $1,034/mo in Phoenix, primarily driven by the current value of real estate in the Phoenix area. In Phoenix, 26.32% of households rent, and 36.30% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Phoenix is $7,964 per month. Households that rent pay about 12.98% of their income on rent here. Phoenix’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Wrights Corners, NY: equally priced homes
- Hinmansville, NY: less expensive homes
- Three Rivers, NY: higher priced homes
- Sand Ridge, NY: higher priced homes
- Pennellville, NY: equally priced homes
- Little Utica, NY: less expensive homes
- Baldwinsville, NY: higher priced homes
- Fulton, NY: less expensive homes
- Dexterville, NY: less expensive homes
- Floridaville, NY: less expensive homes
Cities with Similar Populations
- Estill Springs, TN: higher priced homes
- Eastwood, MI: less expensive homes
- Ebensburg, PA: equally priced homes
- Elizabethtown, NC: equally priced homes
- Ellenboro, NC: equally priced homes
- Elmore, AL: equally priced homes
- Elsmere, DE: higher priced homes
- Epping, NH: higher priced homes
- Erath, LA: equally priced homes
- Erwin, NC: less expensive homes
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