Key Economic Benchmarks
Median Household Income
$81,332$6,778 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Phoenix, AZ
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Phoenix, AZ
Official FY2026 HUD Fair Market Rents for Phoenix-Mesa-Chandler, AZ MSA. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $1,457 | $17,484 | $58,280 | 21.5% |
| 1-Bedroom Apartment | $1,583 | $18,996 | $63,320 | 23.4% |
| 2-Bedroom ApartmentBenchmark | $1,839 | $22,068 | $73,560 | 27.1% |
| 3-Bedroom Home | $2,452 | $29,424 | $98,080 | 36.2% |
| 4-Bedroom Home | $2,720 | $32,640 | $108,800 | 40.1% |
50/30/20 Living Budget in Phoenix, AZ
Based on the local median household income of $81,332/year ($6,778/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in Arizona
Explore net income after federal income tax, FICA, and Arizona state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across Arizona with official federal datasets:
Frequently Asked Questions About Living in Phoenix, AZ
What is the median household income in Phoenix, AZ?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Phoenix, AZ is $81,332 per year (approximately $6,778 per month).
What is the average rent in Phoenix, AZ?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Phoenix, AZ are $1,457 for a studio, $1,583 for 1 bedroom, $1,839 for 2 bedrooms, $2,452 for 3 bedrooms, and $2,720 for 4 bedrooms.
How does the cost of living in Phoenix, AZ compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Phoenix, AZ is 103.3 (3.3% higher than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Phoenix, AZ?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($1,839/month) in Phoenix, AZ requires a minimum gross household income of $73,560 per year ($6,130 per month).
What is a balanced 50/30/20 monthly budget in Phoenix, AZ?
For a typical household earning the median income of $81,332/year ($6,778/month) in Phoenix, AZ, a balanced 50/30/20 budget allocates $3,389/month to essential needs (rent, utilities, groceries), $2,033/month to discretionary spending, and $1,356/month to savings and debt repayment.
What are typical electricity and utility costs in Phoenix, AZ?
Residential electricity rates in Arizona average 15.2¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $137 per month.