According to a national survey that came out in August of 2022, housing affordability in the second quarter of 2022 dropped in all Arizona metro areas, and Phoenix had a dismal showing, with only 22.3 percent of homes sold being affordable to people earning the median family income. Tucson was less affordable, too, with only 40.6 percent of homes deemed affordable – the lowest percentage it’s seen in more than a decade.
Source: https://azbigmedia.com/real-estate/heres-how-much-housing-affordability-has-dropped-in-arizona/
