Arizona now one of 10 least affordable states for homebuyers, new data shows
JIM POULIN | PHOENIX BUSINESS JOURNAL
Arizona has landed on an unenviable top 10 list: It’s now the ninth-least-affordable state for buying a home, according to a study by BestBrokers. In 2023, Arizona’s median home value of $428,492 was 6.9 times the income per capita of $62,091. Part of the reason for the high prices is a lack of skilled tradespeople to build homes. Also, more investors are buying homes and renting them out because high prices are keeping people out of the market.
