Cost of Living in Tempe, Arizona
In Tempe, the median household income is $79,663 and the median gross rent is $1,743/mo, with a median home value of $455,400. Source: Census Bureau ACS, 2020-2024 estimates.
- Median household income
- $79,663
- Median gross rent
- $1,743/mo
- Median home value
- $455,400
- Population
- 188,065
How Tempe compares to the Arizona average
| Measure | Tempe, AZ | Arizona statewide | Difference |
|---|---|---|---|
| Median household income | $79,663 | $79,964 | -0.4% |
| Median gross rent (monthly) | $1,743 | $1,543 | +13.0% |
| Median home value | $455,400 | $394,500 | +15.4% |
Statewide, Arizona prices average 100.7 on the BEA Regional Price Parity index (2024), where the U.S. average is 100.
Housing affordability in Tempe
- Salary needed for median rent
- $69,720
- Rent burden at median income
- 26.3%
- Est. affordable home price
- $290,605
So that $1,743/mo is 30% of gross income
Share of the median household income spent on median rent (30%+ = cost-burdened)
At median income, 6.67% 30-yr rate (FRED, 2026-08), 20% down, 28% front-end DTI
The median home value in Tempe is $455,400 — +56.7% above what the median household income supports under these assumptions.
Estimates from documented formulas — see methodology. Not financial advice.
Cost of living in other Arizona cities
About this data
- American Community Survey 5-Year Estimates — data period 2020-2024, retrieved August 13, 2026.
- Regional Price Parities — data period 2024, retrieved August 13, 2026.
- Federal Reserve Economic Data — data period 2026-08, retrieved August 13, 2026.
Figures are shown exactly as published by the source or derived by the documented formulas on our methodology page. Where a source suppresses an estimate, we show “—” rather than a substitute value.