Quick facts: Tempe, AZ

Quick Facts

110.2
Cost of Living
above US average
185,950
Population
44.79
Crime Rate per 1000
above US average
$72,022
Median Income
below US average
$505,000
Median House Price
above US average
$1759.86
Average Rent
above US average
12%
Poverty Rate
above US average
3.3%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $72,022.

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Income Needed to Buy

βœ— Stretch
$158k/year
Based on $505,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $158k vs median $72,022
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Income Needed to Rent

⚠ Stretch
$75k/year
Based on $1759.86/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $75k vs median $72,022
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Tempe, AZ

Tempe, Arizona, located in Maricopa County, is a vibrant city known for its youthful energy, thanks to the presence of Arizona State University (ASU), one of the largest public universities in the United States. Situated just east of Phoenix, Tempe boasts a unique blend of urban amenities and outdoor activities, making it a popular destination for students, professionals, and families alike. The city is bordered by the picturesque Tempe Town Lake, which offers opportunities for kayaking, paddleboarding, and scenic walking or biking trails. The downtown area is bustling with shops, restaurants, and cultural venues, including the Tempe Center for the Arts and the ASU Art Museum. Tempe's climate is characterized by hot summers and mild winters, ideal for year-round outdoor activities. The city hosts various events, including the popular Tempe Festival of the Arts and the Ironman Arizona triathlon. With excellent public transportation, a strong economy, and a vibrant nightlife, Tempe is a dynamic place to live and explore.

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