Can you afford to live in Phoenix?

Median household income, home values and rent in Phoenix, AZ — how they've changed since 2015 and how much of a typical paycheck housing takes compared with the rest of the country.

U.S. Census Bureau, American Community Survey 5-year estimates.

This story was assembled using AI and public data sources.

What it costs to live in Phoenix.

Median household income: $77,041 — +62.8% since 2015 (not adjusted for inflation)

Median gross rent: $1,458/mo — +64.9% since 2015

Median home value, 2015 to 2023

• 2015: 163400
• 2023: 381900

Median household income

• Phoenix: 77041
• Maricopa County: 85518
• AZ: 76872
• U.S.: 78538

Median gross rent

• Phoenix: 1458
• Maricopa County: 1587
• AZ: 1431
• U.S.: 1348

Share of income a typical renter spends on rent: 30.4% — U.S.: 30.2%

What it means

Households here earn about what households nationally earn ($77,041 versus $78,538).

The typical renter here spends 30.4% of household income on rent, above the 30% level housing agencies use to define cost burden.

Since 2015, rent has risen faster than income here (+64.9% versus +62.8%), before adjusting for inflation.