Phoenix, AZ is a vibrant city with an estimated population of 1.66 million people. It has a strong economy and many local companies operating in the area. In terms of housing, 2 bedroom rent in Phoenix is $1,570, which is slightly higher than the US average of $1,430. The cost of living in Phoenix is also slightly inflated as evidenced by the Grocery Cost Index being 98 versus 100 in the US.
The city's largest employer is Banner Health, a non-profit health care provider with over 50 hospitals and medical centers across 7 states. Other major employers are APS (Arizona Public Service), Wells Fargo, State Farm Insurance Companies and JPMorgan Chase & Co., offering employment to thousands of residents. In addition to that, there are many small businesses located in Phoenix such as tech startups or independent cafes that add to its thriving economy.
Phoenix (zip 85032) has an unemployment rate of 6.6%. The US average is 6.0%.
Phoenix (zip 85032) has seen the job market increase by 3.3% over the last year. Future job growth over the next ten years is predicted to be 48.2%, which is higher than the US average of 33.5%.
Tax Rates for Phoenix (zip 85032)
- The Sales Tax Rate for Phoenix (zip 85032) is 8.6%. The US average is 7.3%.
- The Income Tax Rate for Phoenix (zip 85032) is 4.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Phoenix (zip 85032)
- The average income of a Phoenix (zip 85032) resident is $24,248 a year. The US average is $28,555 a year.
- The Median household income of a Phoenix (zip 85032) resident is $62,805 a year. The US average is $69,021 a year.