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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 $170,846, lower than the South Carolina average of $296,593.
The average cost of rent is $736/mo in Phoenix, primarily driven by the current value of real estate in the Phoenix area. In Phoenix, 12.89% of households rent, and 56.69% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Phoenix is $5,264 per month. Households that rent pay about 13.97% of their income on rent here. Phoenix’s most expensive areas are in the northwestern 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
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Cities with Similar Populations
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- Trenton, KS: higher priced homes
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