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 .