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Phoenix has a total population of 1,626,078 and 52.70% of the population own their home. 47.30% of the occupied housing units are renters within the metro area. The median gross rent from 2014 - 2016 was $914. Today, the rental rate has risen 4.60% from 2016. Residents tend to be more long term with 81.90% staying in their residence for more than 1 year. For those who own a home, the median value of the house is $178,200.
Rental Rates in Phoenix
The average rental rate for all rental properties within Phoenix is $956. The rental rates by bedrooms is as follows. A studio is $702, a one bedroom is $881, a two bedroom is $1,041, and for three bedrooms, the rental rate is $1,316. The average sq ft for a rental unit is 821 sq. ft. With 3 bedrooms being about on average 1,223 sq. ft.
By neighborhood, the average rental rates in Phoenix are as follows:
Estrella Village - $769
Maryvale - $778
Alhambra - $797
North Mountain Village - $861
Deer Valley Village - $906
Paradise Valley Village - $952
Camelback East - $1,007
Valley Vista - $1,026
Encanto Village - $1,070
South Mountain - $1,081
Central City - $1,092
Ahwatukee Foothills - $1,108
Desert View - $1,211
Middle Woodward - $884
Foch - $1,031
East Riverside - $1,031
St. Jean - $1,033
Kettering - $1,062
Butzel - Indian Village - $1,066
Belle Isle - $1,066
The total population under the age of 18 is 34.40%. While those over 65 is 9.80%. Women make up 50.20%, while men make up the remaining 49.80%. 72.60% of the population is White, 41.80% is Latino and 6.80% African American.
Education and Economy
22.30% of the population in Phoenix is considered to be at the poverty level. The education level is rather high with 80.90% with a high school degree or higher. The median annual household salary for Phoenix is $49,328 with 51.18% of all businesses within the city being owned by men, while 35.71% are owned by women and 31.92% of businesses are minority owned.
Phoenix is the Capital of Arizona and was incorporated as a city in 1881 after being founded in 1861. It is the 12th largest metropolitan area in the United States, with nearly 4.3 million residents. The city has the hottest climate of any major city in the United States. The average high temperature is 100 degrees Fahrenheit for three months of the year. Temperatures of over 120 degrees Fahrenheit have been recorded on many occasions. One thing to know when searching for homes for rent in Phoenix is that Annual precipitation is less than 8 inches per year. This makes the climate ideal for hiking, swimming and doing any number of other outdoor activities.
Culture and Living
Phoenix provides many opportunities for cultural activities and entertainment. The Phoenix Art Museum has over 18,000 works of art - from Rembrandt to Rockwell to Leibowitz. The Heard Museum is a fantastic place to learn about the native people of the American Southwest. Other cultural attractions include, Herberger Theatre, the Desert Botanical Garden, Taliesin West Pueblo Grande, the Children's Museum of Phoenix and the Arizona Science Center. Phoenix has an active and vibrant sports scene. The following sports teams call Phoenix home: Arizona Diamondbacks (Major League Baseball), Arizona Cardinals (National Football League), the Phoenix Suns (National Basketball Association) and the Phoenix Coyotes (National Hockey League).
Phoenix is home to a large number of parks and recreational areas. There are many water parks scattered around the valley to help residents cope with the intense heat during the summer months. Some of the notable parks include Big Surf in Tempe, Wet 'n' Wild Phoenix in Glendale, Golfland Splash in Mesa and the Oasis Water Park at the Arizona Grand Resort - formerly known as Pointe South Mountain Resort. The area also has two amusement parks, Castles and Coasters in north Phoenix and Enchanted Island located at Encanto Park.
Colleges and Universities
Phoenix is home to many colleges and universities, covering a wide-array of higher education opportunities: Arizona State University, Grand Canyon University, Midwestern University-Glendale, Thunderbird School of Global Management, American Indian College, The Art Institute of Phoenix, Western Governors University, The University of Phoenix, University of Advancing Technology, Collins College, Devry University, Argosy University, Maricopa Community College District, The Phoenix School of Law.
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