Savings rate in Phoenix — are you on track?
Phoenix is a high cost city. Phoenix median rent is around $1,600/month, up sharply following sustained migration from California. Phoenix's income-to-cost ratio has deteriorated since 2020 but remains better than coastal peers.
Median rent
$1,600/mo
Phoenix 2023
Typical other costs
$1,700/mo
excl. housing
Savings benchmark
7–20%
mid-income USD
Pre-set for Phoenix — adjust to your situation
What a good savings rate looks like in Phoenix
Using data from BLS Consumer Expenditure Survey 2023, people at mid-range incomes in United States typically save between 7–20% of gross income. In a high cost city like Phoenix, housing costs can compress that meaningfully — especially for renters.
Source: BLS Consumer Expenditure Survey 2023. Benchmarks shown for mid-income earners in United States.
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