Arizona added 100,000 jobs in 2022, but home prices limiting growth
Working woman save money for a new house. Concept of saving money for new residential building. Work hard, save more for new living place.
Thanks in large part to its robust economy, reasonable taxes and relatively low minimum wage, Arizona welcomed 100,000 new jobs this year—86,000 of them in the metro Phoenix area—but housing affordability could tamp down demand. Millennials, in particular, are finding it less attractive here due to housing costs. As always, more supply could help temper the prices, and cities that continue to hamstring developers don’t seem to see the connection between economic growth and workers’ ability to afford a place to live.
