Phoenix, Arizona is a great place to live, with a median 2-bedroom rent of $1,610. This is slightly higher than the national average of $1,430 for two bedrooms. The city is known for its diverse economy which has contributed to keeping costs relatively low despite the increased demand for housing in the area. Local companies such as Amazon Fulfillment Center, Intel Corporation and Banner Health have all had a positive influence on the economy of Phoenix. These companies have created numerous jobs in the area providing employment opportunities and stimulating economic growth. Utility costs are also competitive within Phoenix with an overall grocery cost index of 96 which is only 4 points below the national average. In conclusion, living in Phoenix provides affordable access to many amenities that make it a great place to call home.
Phoenix (zip 85051) has an unemployment rate of 6.6%. The US average is 6.0%.
Phoenix (zip 85051) 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 48.2%, which is higher than the US average of 33.5%.
Tax Rates for Phoenix (zip 85051)
- The Sales Tax Rate for Phoenix (zip 85051) is 8.6%. The US average is 7.3%.
- The Income Tax Rate for Phoenix (zip 85051) 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 85051)
- The average income of a Phoenix (zip 85051) resident is $24,047 a year. The US average is $37,638 a year.
- The Median household income of a Phoenix (zip 85051) resident is $47,086 a year. The US average is $69,021 a year.