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 Phoenix 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 and Rental Prices in Phoenix, AZ
The average rental rate for all rental properties within Phoenix is $956.
The median gross rent from 2014 - 2016 was $914.
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
Phoenix Data
Demographics
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.
