What is the cost of living in Phoenix, AZ?

For a quick read on Phoenix: homes carry a median value of $340,200, rent runs a median $1,322 monthly, and household income is a median $72,092, all from the US Census Bureau ACS 5-Year (2022).

How much do you need to earn to live comfortably in Phoenix?

Comfortably affording rent in Phoenix — where the median runs $1,322/month — typically means earning about $52,880 a year, per the standard 30%-of-income benchmark. See the full salary breakdown (renting and buying) for Phoenix.

Is it better to rent or buy in Phoenix?

Renting in Phoenix at the median $1,322/month calls for about $52,880 a year under the standard 30% guideline; buying the median home at $340,200 takes roughly $77,836 a year in principal and interest (20% down, 30-year fixed, current rates). Timeline and down payment usually decide which makes more sense.

Phoenix's violent crime rate, per FBI reporting for 2025, stands at 697.4 per 100,000 residents.

Phoenix, AZ Relocation Guide (2026)

Cost of living, housing, and income data for Phoenix, sourced from the US Census Bureau.

Salary needed to live in Phoenix →

1,609,456

Population

$72,092

Median household income

+0% vs tracked median

$340,200

Median home value

+4% vs tracked median

$1,322/mo

Median rent

-5% vs tracked median

Source: US Census Bureau ACS 5-Year (2022). Last updated July 2026.

Roughly 1,609,456 people call Phoenix, Arizona home. Household income runs $72,092 at the median, roughly in line with what we see across the broader set of cities (+0%).

Housing costs are a defining factor for anyone relocating to Phoenix. The median home value sits at $340,200 (roughly in line with the multi-city median at +4%), while renters pay a median of $1,322 per month. Buyers should weigh current mortgage rates and local property taxes against these figures before committing.

Home values run about 4.7× median income in Phoenix, putting it squarely in the balanced range among the cities we cover. The market around Phoenix shows little movement, with prices up a mere 0.65% compared with a year ago. Climate and natural-hazard risk in Phoenix runs on the higher side, per FEMA's Very High rating — insurance premiums often track this closely.

Personal Affordability Check

Your annual household income: $72,092

Comfortable

Renting at $1,322/mo in Phoenix would take 22.0% of your income.

$480/mo under the 30% guideline.

Above Recommended DTI

Buying the median home ($340,200) would take 30.2% of your income toward principal & interest.

$134/mo over the 28% guideline.

Cost of housing in Phoenix

Median home value is $340,200 and median gross rent is $1,322/month. For buyers, monthly costs depend heavily on current mortgage rates — worth checking before you commit.

FHFA's county-level home price index for Maricopa rose 0.65% over the past year (as of 2025).

HUD's FY 2026 Fair Market Rent for a 2-bedroom unit in the surrounding county is $1,839/month.

Climate & home insurance

FEMA rates Phoenix's overall natural-hazard risk as Very High. Risk level is a major driver of home insurance premiums.

Safety

Phoenix reported a violent crime rate of 697.4 per 100,000 residents in 2025, per FBI data.

Moving to Phoenix

Planning a move to Phoenix? Compare licensed movers and get quotes based on your origin and move date.

Cost estimates for moving between Phoenix and nearby popular destinations:

Frequently asked questions

What is the cost of living in Phoenix, AZ?: For a quick read on Phoenix: homes carry a median value of $340,200, rent runs a median $1,322 monthly, and household income is a median $72,092, all from the US Census Bureau ACS 5-Year (2022).
How much do you need to earn to live comfortably in Phoenix?: Comfortably affording rent in Phoenix — where the median runs $1,322/month — typically means earning about $52,880 a year, per the standard 30%-of-income benchmark. See the full salary breakdown (renting and buying) for Phoenix.
Is it better to rent or buy in Phoenix?: Renting in Phoenix at the median $1,322/month calls for about $52,880 a year under the standard 30% guideline; buying the median home at $340,200 takes roughly $77,836 a year in principal and interest (20% down, 30-year fixed, current rates). Timeline and down payment usually decide which makes more sense.
Is Phoenix safe?: Phoenix's violent crime rate, per FBI reporting for 2025, stands at 697.4 per 100,000 residents.

See the full salary breakdown for Phoenix →

Compare Phoenix to similar cities

Cities with a similar cost of living

Matched on median rent and household income within 15% of Phoenix's.

Chicago, IL

Median rent $1,314/mo · Median income $71,673

Salary breakdown →

Fort Worth, TX

Median rent $1,313/mo · Median income $72,726

Salary breakdown →

Arlington, TX

Median rent $1,297/mo · Median income $71,736

Salary breakdown →

Mesquite, TX

Median rent $1,323/mo · Median income $69,649

Salary breakdown →