Is metro Phoenix an inexpensive place to live? Not like it used to be
Photos courtesy of Cindi DeWine and Mary Wolf-Breen of Russ Lyon Sotheby’s International Realty
Rents have climbed more than 35 percent and home prices are up 65 percent in the Phoenix area since 2019, making it potentially less attractive for new residents and businesses to relocate here. It’s still more affordable than California’s largest cities as well as Seattle, Portland, Denver, Miami and most large East Coast cities, but to keep reeling in newcomers and growing the economy, it’s essential to keep the Valley affordable – which means building more housing.
Source: https://www.azcentral.com/story/money/real-estate/2023/11/24/metro-phoenix-housing-costs/71382146007/
