Phoenix Deemed Unaffordable for Home Buyers. But It’s Worse Elsewhere.

A new analysis of home prices and income levels finds Phoenix “severely unaffordable,” yet nowhere near as bad as several U.S. cities.

The calculation, by Point2 Homes, a real estate trend-analysis company, divided median home sale prices by median annual family incomes to determine an affordability multiple. Lower numbers represent greater affordability [see chart below].

Among the country’s 32 cities with the most population, Phoenix ranked as the 13th most affordable, behind such urban locales as Detroit, Philadelphia and Houston. Phoenix is more affordable than 15 cities, including Las Vegas, San Francisco and New York City (counting all five boroughs as one).


Advertisement
Homes for Sale in 85085, 85086 & 85087
Prickett Realty, serving Anthem & North Phoenix


A similar study in July, by SmartAsset, found Phoenix more affordable than many cities for both home buyers and renters. A separate study last month found the affordability gap rising across the country, as home prices increase faster than wages.

phoenix home affordability


ADVERTISEMENT

Here’s a sneak peek at some of the homes we have “coming soon” in this incredibly tight market:

Pool with Swim-up Snack Bar!
Upgraded Majesty model on cul-de-sac with lovely landscaping.
W St. Exupery Court, Anthem Parkside
4 BEDS + CASITA | 3.5 BATHS | 2-CAR GARAGE | 2,915 SQFT | $455,000

Upgraded Patio Home!
Master on 1st floor, premier end-lot overlooking green space! Close to school, park, shopping.
W Murfield Court, Anthem Paseo
4 BEDS | 2.5 BATHS | 2-CAR GARAGE | 1,772 SQFT | $269,000

NEW POOL and Sweeping Views!
End of quiet cul-de-sac, backyard faces east at Anthem’s edge.
N Long Landing Court, Anthem Country Club
4 BEDS + CASITA | 4.5 BATHS | 2-CAR GARAGE | 3,556 SQFT | $590,000

Stunning Backyard + RV Parking! 
Spacious Wonder model on east-facing view lot with 3-car garage and paved RV Parking.
N 50th Drive, Arroyo Grande 
4 BEDS + Office + Teen Room + “Attic” | 3.5 BATHS | 3-CAR GARAGE | 4,009 SQFT | $549,000

Call or Text 623-297-2557 to Learn More

Staff Writers
North Phoenix News staff writers and editors often work together to produce articles like this one.

Staff Writers

North Phoenix News staff writers and editors often work together to produce articles like this one.

staffwriters has 354 posts and counting.See all posts by staffwriters