Cost of Living in Phoenix, AZ
Population: 1,624,832 • 2026 Data
$77,041
Median Household Income
+0% vs national
$1,458
Median Monthly Rent
+8% vs national
$381,900
Median Home Value
+13% vs national
5.1%
Unemployment Rate
Housing in Phoenix
The median home value in Phoenix, AZ is $381,900. Monthly rent for a typical unit averages $1,458, while total monthly housing costs (including utilities and insurance) average $1,430.
Rent-to-income ratio: 22.7%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Phoenix, AZ is $77,041. The unemployment rate stands at 5.1%, with a labor force of 870,196 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.