Phoenix
Arizona · Ranked #337 of 373 metros
36Crisis
💡
Housing in Phoenix costs 5.34× the median income, above the national average of 4.5×. The median home price is $457K and median rent is $1,760/month. Phoenix ranks #337 of 373 metros for affordability.
Median Home Price
🏠$457K
Need $126K income
Median Rent
🔑$1,760
Need $64K income
Housing Shortage
📉120,000
units needed
Building Permits
🔨40,000
annual
Median Income
💰$86K
Pop: 4,946,145
Rent Burden
⚠️34.5%
of renters paying >30%
Price Change (YoY)
📈+3.5%
Homeownership
🏡67.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Phoenix | National |
|---|---|---|
| Price-to-Income Ratio | 5.34x | 6.1x |
| Rent Burden | 34.5% | 31.5% |
| Homeownership Rate | 67.0% | 65.5% |
| YoY Price Change | +3.5% | +3.5% |
| YoY Rent Change | +2% | +2.8% |
| Mortgage Denial Rate | 14.0% | 13.5% |
| Eviction Rate | 5.0% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +70.2%Since 2000: +271%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$1,457/mo
1 Bedroom$1,583/mo
2 Bedroom$1,839/mo
3 Bedroom$2,452/mo
4 Bedroom$2,720/mo
Zillow Market Data
Home Value (ZHVI)
$446K
1yr: -2.4%5yr: +27.6%
Rent (ZORI)
$1,724/mo
1yr: -0.8%5yr: +22.8%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.
Redfin Market Activity
Median Sale Price
$284K
Active Inventory
1,738
Days on Market
85
Sold Above List
6.2%
Price Drops
28.5%