Tempe, AZ Economy


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Tempe, AZ is a popular city located in the Greater Phoenix Area of Arizona. It has many desirable features, such as beautiful mountain views and abundant sunshine. The average 2 bedroom rent in Tempe is $1,930 which is higher than the US average of $1,430. Despite the slightly higher rent prices in Tempe, the cost of groceries are actually lower with an index score of 98 compared to 100 on a national level. \nTempe is home to large companies such as Bank of America and Amazon. However, it also supports locally owned businesses as well. It's downtown district has become a hub for these smaller businesses with eateries ranging from Italian classics to vegan favorites. These local boutique stores make it easy for residents to find unique items while supporting their community. \nOverall, Tempe offers both affordability and convenience in terms of its cost-of-living along with access to big-name companies and local gems that make up its vibrant city life.

Tempe has an unemployment rate of 5.4%. The US average is 6.0%.

Tempe has seen the job market decrease by -2.0% over the last year. Future job growth over the next ten years is predicted to be 49.9%, which is higher than the US average of 33.5%.

Tax Rates for Tempe
- The Sales Tax Rate for Tempe is 8.1%. The US average is 7.3%.
- The Income Tax Rate for Tempe 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 Tempe
- The average income of a Tempe resident is $35,880 a year. The US average is $37,638 a year.
- The Median household income of a Tempe resident is $64,080 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyTempe, ArizonaUnited States
  5.46
  -2.0%-6.2%
  49.9%33.5%
  8.1%6.2%
  3.4%4.6%
  $35,880$37,638
  $64,080$69,021
  $83,803$85,028
  Population by Occupation
  0.2%1.2%
  0.1%0.5%
  4.5%6.8%
  8.1%10.0%
  2.0%2.5%
  10.6%11.0%
  3.4%4.8%
  1.1%0.8%
  2.4%1.9%
  8.4%4.7%
  1.9%1.9%
  9.8%7.6%
  0.2%0.1%
  4.1%4.2%
  14.7%9.3%
  10.1%14.0%
  2.4%2.1%
  9.6%7.0%
  3.7%4.8%
  2.8%4.7%
Reviews for Tempe
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Tempe is a small city that definitely has nice areas, nice weather, the people are always good, and it is home of ASU. The Tempe town council has done a good job towards  More

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Over 10 years ago

Lived in Arizona 55 yrs Phoenix /Tempe lost my job and got a offer to keep my job but had to move Fall River MA. I will take the heat over days of cold anytime . January  More

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Over 12 years ago

I love the sun, but this area is 110+ from May through November! Each year the hot weather gets hotter and the season gets longer. And it doesn't matter that there is  More

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