Living in Phoenix provides a unique visual experience.
Known as the Valley of the Sun, Phoenix sees more sunshine than any other area in the country, but nice weather isn't the only draw. With a diverse mix of work and play, Arizona's capital city has a thriving job market, as well as plenty of places to shop and dine out.
So, if you're thinking you could use a change of scenery, maybe it's time to explore your options in Phoenix. With so many distinct areas to live in, you won't have a problem finding the perfect place in Phoenix with an average rent that works for you.
It's always nice to find a city with plenty of job opportunities and affordable housing. Phoenix fits the bill. Even though rent prices vary between neighborhoods, the average rent in Phoenix is $1,380 for a one-bedroom apartment.
This is an almost 4 percent increase over last year, a key indicator of the city's continued growth, but still well below the national average. Across the country, on average, you'd pay more than $200 more in rent.
To live comfortably in Phoenix, you need to ensure you've got enough to pay rent and cover all of life's additional expenses. It's also recommended that you don't spend more than 30 percent of your pre-tax income on housing, just to play it safe.
Working with the average, one-bedroom rent of $1,380, you'd need to make $55,200 per year based on the above equation. This bodes well for residents since the average salary in Phoenix is around $67,000. You get some wiggle room to live a little above the average or indulge in more luxuries outside the home.
Regardless of salary, there's housing in Phoenix that fits any budget. To double-check your calculations, and figure out what you can really afford, let us help you calculate your ideal rent.
Once you've cemented the rent you'd like to pay, it's time to consider the cost of your other living expenses. These are the everyday items that play into your overall budget. A good way to evaluate how expensive of a city you're living in is to look at the average costs for common items. These total up to the cost of living index, which in Phoenix is 101.6. This is only slightly higher than the national average.
This means most of what you pay for in Phoenix won't break the bank when compared with other cities throughout the country. This trend filters down to specific essentials, including:
As you can see, even if certain expenses in Phoenix are higher than the national average, they're just barely above the curve, making the city affordable overall.
Having all this important information in advance will help you effectively budget to live in Phoenix. It also helps ensure you find housing at the perfect price point.
Phoenix has a unique city design in that many smaller neighborhoods sit within larger ones. For this reason, you can find a tiny oasis within a much larger space if you've got specific tastes. It also means you'll see pockets of most and least expensive neighborhoods, rather than a single cluster. The most expensive areas range from a few in the downtown area to spots across the north. The least expensive neighborhoods spread out in much the same way, covering a large part of the area to the east.
Within the more expensive neighborhoods in Phoenix, you'll find areas like Desert View, to the north of the city center, along with a few other smaller spots like Desert Ridge. The most expensive neighborhoods then extend south into Downtown Phoenix, where you'll also find Roosevelt and Central City.
The least expensive neighborhoods feature many locations to the east of downtown, close to Glendale. There are also spots with more affordable housing directly south and north of the city center.
With such widespread coverage, it's possible to find an apartment at any price point throughout Phoenix.
Close to the famous Mayo Clinic, just north of Downtown Phoenix is where you'll find a few of the city's most expensive neighborhoods. These areas consist of dense, suburban spots with plenty of parks, green spaces and quiet, beautiful streets. This area takes on a laid-back vibe for those looking to live in a little luxury away from the bustle of the city.
The trendiest spot on the list combines a little city culture with a suburban feel. Arcadia Lite is to the north but has a heavy restaurant culture combined with plenty of trails and outdoor activity.
For those who want a faster-paced lifestyle, while still living at the higher-end, certain Phoenix neighborhoods within downtown fit the bill. These include areas where residents have plenty of options to work and play. You'll find large sporting venues alongside the arts district. For commuters, these neighborhoods also keep you close to the airport, as well.
This is also the area seeing big change toward becoming more accessible to those not receiving the largest paychecks. Copper Square, for example, is still in the top 10 list but saw a decrease in average rent by almost 22 percent over last year.
|Rank||Neighborhood||Average 1-BR Rent Price||YoY Rent Price Change|
|1||Toscana at Desert Ridge Condominiums||$2,167||12.38%|
Neighborhoods throughout Phoenix that made the least expensive list have one thing in common, they're low-key. Whether that means a quieter feel or more casual spots to eat or shop, these communities make it easy to enjoy yourself on a budget.
Many have multiple green spaces and access to large parks and hiking trails. North Mountain even has an amusement park, complete with go-karts and mini-golf for some old-school fun.
They're also all highly affordable. The average rent for a one-bedroom across all 10 neighborhoods comes in less than $1,000 per month. Although the rent is lower, it doesn't mean these areas aren't up-and-coming. Many are older neighborhoods that have continued to steadily grow and develop over the decades. Krall's Homesites even saw a 35.6 percent increase in rent over the previous year.
With a lot of attractive qualities, it's nice to know that living in Phoenix on a bit of budget doesn't mean sacrificing the best parts of the city.
|Rank||Neighborhood||Average 1-BR Rent Price||YoY Rent Price Change|
|4||Lake Biltmore Village||$863||21.06%|
|9||Colonia del Sol||$954||9.43%|
Phoenix has options when it comes to varying average rent costs. You can go from paying $2,167 in Toscana at Desert Ridge down to $761 for a one-bedroom in Casa Tierra. Either way though, you get to call beautiful Phoenix home.
Here are how other neighborhoods stack up in the area.
|Neighborhood||Average 1-BR Rent Price||YoY Rent Price Change|
|Central Avenue Corridor||$1,328||-13.03%|
|Central City South*||$1,090||1.37%|
|Colonia del Sol||$954||9.43%|
|Deer Creek Village||$1,146||45.19%|
|Lake Biltmore Village||$863||21.06%|
|Mountain Park Ranch||$1,308||11.31%|
|North Central Corridor||$1,046||9.29%|
|Paradise Valley Oasis||$1,014||-5.18%|
|Toscana at Desert Ridge Condominiums||$2,167||12.38%|
More than 16 million people visit Phoenix every year. Not surprisingly, many end up becoming residents.
This is because the city has so much to offer. Not only is it big, with plenty of opportunities, but it also doesn't have any winter. Come check out this picturesque and diverse city yourself. Then, select your ideal neighborhood in Phoenix to call home.