United States · North America · Population: 1,600,000
Phoenix is relatively affordable for homebuyers, with steady growth in property values. The city has moderate rental prices. At $380,000 average home price in United States, buyers should consider the 5.5x price-to-income ratio when planning a purchase.
| Average Home Price | $380,000 |
| Price per sqm | $3,800 |
| Price-to-Income Ratio | 5.5x |
| Mortgage Rate | 6.8% |
| 1-Year Price Change | +2.8% |
| 1-Bedroom Apartment | $1,300/mo |
| 3-Bedroom Apartment | $2,000/mo |
| Rent-to-Income Ratio | 22% |
| Median Household Income | $69,000/year |
| Years to Buy (at median income) | 5.5 years |
| Local Currency | USD |
With a price-to-income ratio of 5.5x, Phoenix offers reasonable opportunities for homebuyers compared to global averages. Home prices have increased 2.8% in the past year.
Cities worldwide with home prices closest to Phoenix
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