Nurses, police officers and teachers can't afford Phoenix housing
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The average nurse, first responder or teacher doesn't make enough to afford a home in metro Phoenix, per a new analysis by Valley real estate firm Elliott D. Pollack & Company.
Why it matters: The Valley's skyrocketing rents and home prices have made it hard for many essential workers to live in the neighborhoods they service.
What they found: In Phoenix, you need to make $116,300 annually to afford the median home, $57,300 for a two-bedroom apartment and $47,400 for a one-bedroom apartment.
- Using the rule of spending no more than 30% of income on housing, the typical nurse, police officer, chef or high school teacher can afford to rent a two-bedroom apartment.
- Elementary and middle school teachers, firefighters and construction workers can only afford a one-bedroom apartment.
🚨 Threat level: The typical waiter or retail worker doesn't make enough to afford any type of housing in any Valley city.
Zoom out: You need to make even more to afford housing in Scottsdale, Gilbert and Chandler.
- Elementary and middle school teachers, firefighters and construction workers who make average salaries cannot afford a typical one-bedroom apartment there.
Flashback: Phoenix historically saw home prices that were more affordable than the national average.
- That changed around 2019 when home prices started climbing, but wages stayed stagnant, The Arizona Republic reported.