SOURCE: Common Sense Institute of Arizona
Since 2010, home prices in Arizona have increased 163%, and a third of that cumulative increase (56%) has occurred just since 2020. Today it would cost a median household nearly a quarter (25%) of its income to afford the median market rent. For context, average U.S. home prices have risen 106% since 2010 and the long-run national rent-to-income ratio is approximately 20%.
