Phoenix ranks among major US cities where residents are most ‘house rich’

Nov 26, 2023, 5:45 AM

Several cities in metro Phoenix made the list of "house rich" cities. (Photo provided by Angelo Fra...

Several cities in metro Phoenix made the list of "house rich" cities. (Photo provided by Angelo Fratantoni)

(Photo provided by Angelo Fratantoni)

Phoenix is ranked No. 10 among the major U.S. cities that are the most “house rich,” according to a study by All Star Homes.

Cities considered “house rich” are places where home ownership is dominant and homes are relatively affordable compared to the local median income.

Using data from the U.S. Census Bureau, Pennsylvania-based All Star Homes found that Phoenix has a 56.1% rate of owner-occupied housing.

According to the U.S. Census Bureau’s most recent data — from 2017 to 2021 — the median home value of owner-occupied houses in Phoenix is $277,700.

The median home value is different from the median home sale price, which is around $440,000, according to real-time data from The Cromford Report.

The median household income is $64,927, which gave Phoenix a 4.28 home-value-to-income ratio on the study. Nationwide, that ratio is 3.33.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

Mugshot of Raad Almansoori, who was indicted by an Arizona grand jury on eight felony charges...

Kevin Stone

Violent crime suspect wanted for NYC murder indicted on 8 felony charges in Arizona

Violent crime suspect Raad Noah Almansoori was officially charged with eight felony offenses in Maricopa County, officials announced Tuesday.

1 hour ago

Group picture of ABOR members....

SuElen Rivera

Amidst UArizona’s financial challenges, Hobbs chastises university public governing board

Arizona Gov. Katie Hobbs on Monday chastised the state's public university governing board for attacking UArizona's faculty instead of addressing its failures and a $177 million deficit.

2 hours ago

A gloved hand holds a Planatome surgical blade...

Kevin Stone

Planatome, a Phoenix-based surgical blade maker, plans to double size of workforce

Planatome, a Phoenix-based medical device company that makes advanced surgical blades, announced plans to double its workforce.

4 hours ago

Jose “ET” Rivera, owner of Tres Leches Cafe, speaks during a rally against an Arizona immigrati...

Martin Dreyfuss/Cronkite News

Arizona business owners rally against bill requiring E-Verify checks for jobs, benefits

Arizona business owners rallied Monday against an immigration bill they say will drive businesses and workers out of the state.

6 hours ago

Traffic backed up near Quartzsite...

Eastbound I-10 temporarily closed near Arizona-California border due to fiery crash

Eastbound Interstate 10 near the Arizona-California border was temporarily closed after a fiery crash Tuesday morning, authorities said.

7 hours ago

Tiana Hodges mugshot...

Woman arrested in fatal Phoenix apartment complex shooting

A woman was arrested Monday for allegedly fatally shooting a man at an apartment complex in Phoenix, authorities said. 

8 hours ago

Sponsored Articles


Midwestern University

Midwestern University Clinics: transforming health care in the valley

Midwestern University, long a fixture of comprehensive health care education in the West Valley, is also a recognized leader in community health care.


Collins Comfort Masters

Avoid a potential emergency and get your home’s heating and furnace safety checked

With the weather getting colder throughout the Valley, the best time to make sure your heating is all up to date is now. 

(KTAR News Graphic)...

Boys & Girls Clubs

KTAR launches online holiday auction benefitting Boys & Girls Clubs of the Valley

KTAR is teaming up with The Boys & Girls Clubs of the Valley for a holiday auction benefitting thousands of Valley kids.

Phoenix ranks among major US cities where residents are most ‘house rich’