Cost of Living in Tempe, AZ
Population 188,065 · Census ACS 2020–2024 5-year estimates
The median rent in Tempe, AZ is $1,743/month, 13% higher than the Arizona median and 23% higher than the U.S. median. The median home value is $455,400, 37% higher than the national median. Households earn a median of $79,663 a year, about the same as the state median.
Affordability
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Tempe vs. Arizona vs. U.S.
| Tempe | Arizona | U.S. | |
|---|---|---|---|
| Median rent | $1,743 | $1,543 | $1,413 |
| Median home value | $455,400 | $394,500 | $332,700 |
| Median household income | $79,663 | $79,964 | $80,734 |
| Homeownership rate | 42.3% | 67.4% | 65.2% |
| Bachelor's degree or higher | 50.0% | 33.3% | 35.7% |
| Poverty rate | 15.8% | 12.5% | 12.5% |
| Unemployment rate | 5.5% | 5.1% | 5.2% |
| Work from home | 21.2% | 18.4% | 15.1% |
| Median age | 30.0 | 39.0 | 38.9 |
FAQ
What is the average rent in Tempe, AZ?
The median gross rent in Tempe, AZ is $1,743 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Tempe, AZ?
Using the common 30% rule, renting a median-priced home takes about $69,720 a year in gross income.
Is Tempe, AZ expensive to live in?
Rent there is 23% higher than the U.S. median, and the median home costs about 5.7 times the median household income.
Other cities in Arizona
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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