Phoenix, AZ
Population 1,624,832 · Arizona
About Phoenix, AZ
Phoenix is a major city located in Arizona with a population of 1,624,832 residents according to the latest US Census Bureau American Community Survey data. The median household income is $77,041 per year, which is 3% above the national median of $75,149. The median age of 34.8 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Phoenix features a median home value of $381,900, which is 56% above the national median of $244,900. This places Phoenix in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,458, 25% above the national average of $1,163/month. Of the 642,867 total housing units, 57% are owner-occupied (343,369 units) and 43% are renter-occupied (258,028 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Phoenix shows an unemployment rate of 5.1%, which is near the national rate of 3.7%. The poverty rate stands at 14.3%, above the national average of 12.4%. Workers in Phoenix have an average one-way commute time of 25.7 minutes.
Education & Demographics
32.3% of Phoenix residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 36.7% White, 4.1% Hispanic or Latino, 0.7% Black or African American, and 4.0% Asian residents, with 19.0% of the population being foreign-born.
Climate & Weather
Phoenix experiences an annual average temperature of 74.2°F with 9.98" of precipitation per year. The warm climate makes it appealing for those who prefer mild winters and plenty of sunshine. Summer highs average around 109°F (July–August), while winter lows dip to approximately 42°F (December–January).
How Phoenix Ranks in Arizona
Cost of Living in Phoenix, AZ
Compared to national averages, Phoenix has a median household income of $77,041 (3% above the national median of $75,149). Home values average $381,900, which is 56% above the national median. Monthly rent at $1,458 is 25% above the US average of $1,163. Within Arizona, Phoenix's income is 24% above the state average of $62,086, and home values are 61% above the state median of $237,048.
Why Live in Phoenix, AZ?
Phoenix offers a strong local economy with a median household income of $77,041, well above the national average.
Potential considerations include a competitive housing market where the typical home costs $381,900. However, as a major city, Phoenix provides access to a wide range of amenities and services.
Phoenix has a population of 1,624,832 with a median age of 34.8 years. Compare Phoenix with other cities to see how it stacks up, or explore all cities in Arizona.
Similar Cities Near Phoenix
Cities in Arizona with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Tucson | 543,348 | $54,546 | $242,200 | Compare |
| Mesa | 507,478 | $78,779 | $364,300 | Compare |
| Chandler | 278,123 | $103,691 | $469,800 | Compare |
| Gilbert | 271,118 | $121,351 | $518,600 | Compare |
| Glendale | 250,193 | $70,139 | $347,000 | Compare |
| Scottsdale | 242,169 | $107,372 | $709,900 | Compare |
| Peoria | 194,338 | $93,403 | $429,400 | Compare |
| Tempe | 186,419 | $77,643 | $421,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Climate & Weather in Phoenix
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 61 | 66 | 71 | 88 | 94 | 101 | 111 | 106 | 100 | 91 | 77 | 68 |
| Low °F | 40 | 43 | 47 | 59 | 68 | 73 | 88 | 84 | 73 | 64 | 52 | 44 |
| Rain " | 2.0 | 1.6 | 1.9 | 0.0 | 0.0 | 0.0 | 0.0 | 1.0 | 0.4 | 0.0 | 1.0 | 2.0 |
Other Cities in Arizona
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Phoenix With Other Cities
Frequently Asked Questions about Phoenix
What is the population of Phoenix, AZ?
The population of Phoenix, AZ is 1,624,832 according to the latest US Census Bureau American Community Survey estimates. This makes it a major city in Arizona.
What is the median household income in Phoenix?
The median household income in Phoenix, AZ is $77,041 per year, which is 3% above the national median of $75,149.
What is the median home value in Phoenix?
The median home value in Phoenix, AZ is $381,900, which is 56% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Phoenix?
The median monthly rent in Phoenix, AZ is $1,458, which is 25% above the national average of $1,163/month.
What is the unemployment rate in Phoenix?
The unemployment rate in Phoenix, AZ is 5.1%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Phoenix, AZ a good place to live?
Phoenix offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 1,624,832 and a median age of 34.8, the city appeals to young professionals and families.
How educated is Phoenix, AZ?
32.3% of residents in Phoenix aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Phoenix?
Key cost-of-living indicators for Phoenix, AZ: median home value is $381,900 (56% above national), median rent is $1,458/month, and median household income is $77,041. The home-value-to-income ratio is 5.0x, a moderate figure by national standards.
What is the poverty rate in Phoenix?
The poverty rate in Phoenix, AZ is 14.3%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Phoenix, AZ?
Phoenix's population is 36.7% White, 4.1% Hispanic or Latino, 0.7% Black or African American, 4.0% Asian, and 7.4% two or more races. 19.0% of residents are foreign-born.