What is the average household income in Phoenix, AZ?
In 2021, the median household income in Phoenix was $70,180, representing a 1.67% increase from 2020 and about 94% of the U.S.
median household income.
The per capita income in Phoenix in 2021 was $38,713, which is $2,418 higher than the median per capita income across the state of Arizona.
Compared to the median household income of $41,207 in Phoenix in 2000, the 2021 figure represents a significant increase of 45.8%.
The median household income across the broader Phoenix metropolitan area was even higher at $82,884 in 2021.
Phoenix's relatively high median household income is likely correlated with the education levels in the area, as 33% of adults have a bachelor's degree or higher, compared to the national average of 31%.
Household income levels vary across different neighborhoods and counties within the Phoenix metro area, with the highest income areas generally having more highly educated populations.
In 2022, the median household income in Phoenix was $75,969, about the same as the median annual income of $74,568 across the entire state of Arizona.
Compared to the median income of $41,207 in Phoenix in 2000, the 2022 figure represents an impressive increase of 45.8%.
The per capita income in Phoenix increased by 49.3% from 2000 to 2022, rising from $26,156 to $39,089.
Phoenix's median household income in 2022 placed it in the 80th percentile nationally, indicating a relatively high standard of living compared to the rest of the country.
The highest-income areas in the Phoenix metro region are generally located in the northern and eastern suburbs, such as Paradise Valley and Scottsdale.
The lowest-income areas in Phoenix tend to be in the central and western parts of the city, where educational attainment and employment opportunities are more limited.
The Phoenix metropolitan area has experienced significant population growth in recent years, which has likely contributed to the rising household incomes as the economy has expanded.
The cost of living in Phoenix is generally lower than the national average, which allows residents to stretch their household incomes further.
The Arizona State University campus in Tempe, located within the Phoenix metro area, has played a significant role in driving the region's economic and educational growth.
The influx of technology and finance companies to the Phoenix area in recent years has contributed to the rising incomes, as these industries tend to pay higher salaries.
Phoenix's warm climate and relatively affordable housing costs have attracted many retirees and older adults, who often have higher incomes and contribute to the overall wealth of the region.
The Phoenix metropolitan area is home to a diverse population, with a significant Hispanic and Latino community that has influenced the local economy and culture.
The city's proximity to outdoor recreation areas, such as the Sonoran Desert and the Grand Canyon, has made it an attractive destination for both residents and tourists.
Phoenix's transportation infrastructure, including the light rail system and Sky Harbor International Airport, has helped facilitate economic growth and connectivity within the region.