Arizona
Ranked #37 of 51 for housing affordability
Median Home Price
🏠$411K
5.32x income
Median Rent
🔑$1,608
34.1% rent-burdened
Median Income
💰$77K
Population: 7,431,344
Homeownership
🏡68.0%
14,000 experiencing homelessness
Housing Shortage
📉135,000
units needed
Building Permits (2024)
🔨59,616
Price-to-Income
📊5.32x
Severe Rent Burden
⚠️16.5%
paying >50% of income
Rent Burden Breakdown
vs. National Average
House Price Index (2000–2025)
FHFA All-Transactions HPI · Base = 100 (1980s)
HUD Fair Market Rents (FY2026)
Maximum rent HUD considers fair for Section 8 voucher holders
FMR ($1706) is above the state median rent ($1608) — vouchers cover typical rents.
Metros in Arizona
| Metro | Score | Home Price | Rent | Income | Rent Burden |
|---|---|---|---|---|---|
| Phoenix | 36 | $457K | $1,760 | $86K | 34.5% |
| Tucson | 45 | $338K | $1,263 | $70K | 34.5% |
| Prescott Valley-Prescott | 53 | $454K | $1,442 | $67K | 27.4% |
| Lake Havasu City-Kingman | 68 | $294K | $1,077 | $56K | 25.0% |
| Yuma | 81 | $247K | $1,055 | $63K | 16.9% |
| Flagstaff | 54 | $471K | $1,579 | $72K | 32.1% |
| Sierra Vista-Douglas | 75 | $235K | $988 | $52K | 25.1% |
Market Trends
Homeownership Rate
68.0%
Rent-to-Income Ratio
25.0%
of gross income spent on rent
Total Households
2,907,014
Owner-Occupied
1,967,704
Renter-Occupied
939,310
Homelessness
Latest Count (2024)
14,737
1-Year Change
+3.5%
10-Year Trend (2015–2024)
+48.9%
9,896 → 14,737
Housing Policies
Construction Activity
Total Permits (2024)
59,616
4.3% of national total
Single-Family
41,944
70% of state permits
Multi-Family
17,672
30% of state permits
Mortgage Access
National HMDA data — mortgage denial rates by race/ethnicity
Denial Rates by Race
Top Denial Reasons
Housing Shortage
State Shortage
135,000
units needed
National Shortage
7,300,000
1.8% of national total
Affordable Units per 100 ELI Renters
35
nationally (NLIHC)
National Shortage by Unit Type
45%
Single-Family
18%
Small Multi (2-4)
22%
Medium Multi (5-49)
15%
Large Multi (50+)
Rent Burden Detail
Arizona burden rates with national demographic breakdown
Cost-Burdened Renters
34.1%
paying >30% of income
Severely Burdened
16.5%
paying >50% of income
Households >30% Burden
234,675
Households >35% Burden
60,062