Phoenix homes made $51,000 more than workers in 2021

By: AZ Big Media 

The term “household income” was given new meaning in 2021 as a banner year for home appreciation found Phoenix homes themselves earning more than the median worker in the metro region and in major metros across the country, according to a new study by Zillow.

In Metro Phoenix:

• Typical home values grew $103,470 in 2021, while median pretax income in Phoenix in 2021 was $52,000, meaning homes made $51,470 more than median income.

• Typical home appreciation was equal to roughly the annual mean U.S. wage of a K-12 education administrator.

• One-year leases cost $4,644 more at the end of 2021 than they did in the beginning .

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