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Maricopa County, AZ

RANK #962 / 996  ·  POP 4,430,871  ·  AZ

PROJECTED GROWTH: -3.5%

Maricopa County ranks in the bottom tier of U.S. counties on economic momentum.

[01] Why Maricopa County?

Encompassing Phoenix, the state capital, Maricopa County, Arizona, is one of the most populous counties in the United States. It is located in the south-central part of Arizona and is known for its warm, dry climate with abundant sunshine. The county offers extensive outdoor recreation, including a vast regional park system with over 120,000 acres of Sonoran Desert open space. Residents and visitors can enjoy hundreds of miles of trails for hiking, mountain biking, and horseback riding, as well as opportunities for camping, boating, and fishing at locations like Lake Pleasant Regional Park. Commute options within the county include regional bus, light rail, and streetcar services provided by Valley Metro, which also offers carpool and vanpool matching services.

Life in Maricopa County is characterized by a diverse population, with many families and young professionals residing there. The county is home to 58 school districts, serving a significant portion of Arizona's students, and public schools generally perform above average. Economically, Maricopa County has seen consistent job growth, outpacing the state's average. Major investment is occurring in sectors such as industrial and logistics, with new developments in commercial and residential areas. The county also maintains a strong agricultural presence, ranking highly in the U.S. for sales of various crops and dairy products.

[02] Market Snapshot

Housing Ratio
5.0x

Above national median (4.7x)

GDP Growth
+4.6%

Well above national median

Home Prices
-2.3%

Prices declining

Climate & Terrain
4.9

Favorable climate & terrain

Price/Rent
18x

Above national median (13x)

Housing is fairly valued at 5.0x relative to local economic output. Climate and geography support a structural premium. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Maricopa County U.S. National

The Numbers

DEMOGRAPHICS
Population
4,430,871
+1.46% YoY
Median Household Income
$80,675
Median Home Value
$371,400
-2.3% 12mo
Median Rent
$1,437
Average Annual Pay
$73,840
+5.0% YoY
Employment
2,280,645
+2.1% YoY
Income-to-Home-Value
0.2172
Near national average
Migration Inflow
0.78%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$486,795
Days on Market
66
Slower market
Months of Supply
4.7
Balanced market
Sale-to-List Ratio
97.7%
Negotiation room for buyers
Sold Above List
12.0%
Listings w/ Price Drops
30.8%
Building Permits (2024)
36,380
Single-Family Permits
21,667

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$31,965M
TOTAL
PROJECT AMOUNT STATUS
Tract Buckeye Data Center Campus (formerly Project Range)
Tract
$20,000M Planned
W Holdings Energy Generation and Technology Campus (Data Center, BESS, Natural Gas Plant)
W Holdings
$10,000M Approved
Google Mesa Data Center Campus (Project Redhawk)
Google
$1,000M Under Construction
Harquahala Flats Energy Storage
NextEra Energy Resources, LLC
$615M Planned
Strata Clean Energy Battery Storage Projects (Justice BESS & White Tank BESS)
Strata Clean Energy
$250M Under Construction
Amazon Fulfillment and Distribution Centers (Multiple Projects)
Amazon
$100M Operating

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +4.6% 81 percentile
Population Growth +1.5% 82 percentile
Income Growth +10.6% 87 percentile
Vacancy Rate 1.2% 44 percentile
Home Price Change -2.3% 13 percentile
Rent Growth -0.9% 6 percentile
Price/Rent 18x 15 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Maricopa County, AZ a good place to move to?

Maricopa County has a Boom Town Index score of 3/100, ranking #962 among 996 U.S. counties. With job growth at +2.1% and a median household income of $80,675, it faces some economic headwinds compared to faster-growing counties.

Is Maricopa County affordable?

The median home value in Maricopa County is $371,400 with median rent at $1,437/month. The income-to-home-value ratio is 0.2172, which is less affordable than the national average.

Is Maricopa County growing or shrinking?

Population growth: +1.5% year-over-year. Job growth: +2.1%. Home values changed -2.3% in the past 12 months.

[08] Similar Metros

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