Phoenix Real Estate

Phoenix is the capital and largest city in Arizona, as well as the fifth most populated city in the United States. Phoenix is home to approximately 1.5 million people, and is the anchor of the Phoenix metropolitan area (also known as the Valley of the Sun), the 12th largest metro area by population in the United States with nearly 4.3 million people. In addition, Phoenix is the county seat of Maricopa County, and is one of the largest cities in the United States by land area.

Phoenix Real Estate Information

Warm weather, sunny days, arts and culture, and plenty of room to grow makes Phoenix a fantastic place to call home. Whether you’re looking for a starter home, a retirement community, a downtown condominium, or the mansion of your dreams, Phoenix has something great to offer. After several years of declining sales and increasing inventories, the Phoenix real estate market has begun to level, providing a once-in-a-lifetime opportunity for buyers and sellers to make a deal.

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Market Statistics

 

History

Phoenix was incorporated as a city in 1881 after being founded in 1868 near the Salt River, near its confluence with the Gila River. The city eventually became a major transportation hub in North America and a main transportation, financial, industrial, cultural and economic center of the Southwestern United States. The city has a notable and famous political culture and has been home to numerous influential American politicians and other dignitaries, including Barry Goldwater, William Rehnquist, John McCain, Janet Napolitano, Carl Hayden, and Sandra Day O’Connor. Residents of the city are known as Phoenicians.

Climate

Phoenix has an arid climate, with very hot summers and temperate winters. The average summer high temperature is among the hottest of any populated area in the United States and approaches those of cities such as Riyadh and Baghdad. The temperature reaches or exceeds 100°F (38°C) on an average of 110 days during the year, including most days from late May through early September, and highs top 110 °F (43 °C) an average of 18 days during the year. On June 26, 1990, the temperature reached an all-time recorded high of 122 °F (50 °C).

Overnight lows greater than 80 °F (27 °C) occur frequently each summer, with the average July low being 81 °F (27 °C) and the average August low being 80 °F (27 °C). On average, 67 days throughout the year will see the nighttime low at or above 80 °F (27 °C). The all time highest low temperature ever recorded in Phoenix was 96 °F (36 °C), which occurred on July 15, 2003.

Precipitation is sparse during a large part of the summer, but the influx of monsoonal moisture, which generally begins in early July and lasts until mid-September, raises humidity levels and can cause heavy localized precipitation and flooding. Winter months are mild to warm, with daily high temperatures ranging from the mid-60’s to low 70’s (18-22°C), and low temperatures rarely dipping below 40 °F (4 °C).

On average, Phoenix has only 5 days per year where the temperature drops to or below freezing. The long-term mean date of the first frost is December 15 and the last is February 1; however, these dates do not represent the city as a whole because the frequency of freezes increases the further one moves outward from the urban heat island. Frequently, outlying areas of Phoenix see frost, but the airport does not. The earliest frost on record occurred on November 3, 1946, and the latest occurred on April 4, 1945. The all-time lowest recorded temperature in Phoenix was 16 °F (-9 °C) on January 7, 1913.

Snow is extremely rare in the area. Snowfall was first officially recorded in 1896, and since then, accumulations of 0.1 inches (0.25 cm) or greater have occurred only seven times. The heaviest snowstorm on record dates to January 20, 1937 – January 21, 1937, when 1 to 4 inches (2.5 to 10 cm) fell in parts of the city and did not melt entirely for four days. Before that, 1 inch (2.5 cm) had fallen on January 20, 1933. On February 2, 1939, 0.5 inches (1.3 cm) fell. Most recently, 0.4 inches (1.0 cm) fell on December 21, 1990 – December 22, 1990. Snow also fell on March 12, 1917, November 28, 1919, and December 11, 1985.

Demographics

As of the 2005–2007 American Community Survey conducted by the U.S. Census Bureau, White Americans made up 75.1% of Phoenix’s population; of which 48.1% were non-Hispanic whites. Blacks or African Americans made up 5.4% of Phoenix’s population; of which 5.2% were non-Hispanic blacks. Native Americans made up 1.9% of the city’s population; of which 1.7% were non-Hispanic. Asian Americans made up 2.3% of the city’s population; of which 2.2% were non-Hispanic. Pacific Islander Americans made up 0.1% of the city’s population. Individuals from some other race made up 13.3% of the city’s population; of which 0.2% were non-Hispanic. Individuals from two or more races made up 1.9% of the city’s population; of which 1.0% were non-Hispanic. In addition, Hispanics and Latinos made up 41.5% of Phoenix’s population.

According to the 2000 census, there were 1,321,045 people, 865,834 households, and 407,450 families residing in the city. The official population estimate in 2008 is 1,567,924. The population density was 2,782 people per square mile (1,074/km²). There were 895,832 housing units at an average density of 1,044 per square mile (403/km²).

There were 865,834 households out of which 35.7% had children under the age of 18 living with them, 46.9% were married couples living together, 12.9% had a female householder with no husband present, and 34.0% were non-traditional families. 25.4% of all households were made up of individuals and 6.3% had someone living alone who was 65 years of age or older. The average household size was 2.79 and the average family size was 3.39.

In the city the population age distribution was 28.9% under the age of 18, 10.9% from 18 to 24, 33.2% from 25 to 44, 18.8% from 45 to 64, and 8.1% who were 65 years of age or older. The median age was 31 years. For every 100 females there were 103.5 males. For every 100 females age 18 and over, there were 102.7 males.

The median income for a household in the city was $41,207, and the median income for a family was $46,467. Males had a median income of $32,820 versus $27,466 for females. The per capita income for the city was $19,833. 15.8% of the population and 11.5% of families were below the poverty line. Out of the total population, 21.0% of those under the age of 18 and 10.3% of those 65 and older were living below the poverty line.

As of 2000, the racial makeup of the Phoenix population was 71.1% White, 5.1% African American, 2.0% Native American, 2.0% Asian, 0.1% Pacific Islander, 16.4% from other races, and 3.3% from two or more races. Hispanic or Latino of any race were 34.1% of the population. Since the 2000 census, the non-Hispanic white population in Phoenix dropped below 50.0%, according to William Frey, a demographer with the Brookings Institution.

In 2000, the Phoenix metro area’s religious composition was reported as 45% Catholic, 13% LDS (concentrated heavily in the suburb of Mesa) and 5% Jewish. The remaining 37% are largely members of Protestant denominations or are unaffiliated.