https://azbigmedia.com/221k-people-r...rom-2012-2017/
Quote:
The data itself tells the story. The average monthly rent in Manhattan is around $4,100, which represents a crushing 59% of the area’s median household income ($83,500), and the median cost of a home in the borough is $1.1M, 13 times the median income. The price to income ratio is a commonly used indicator of how much house one can afford and the recommended ratio is 2.6. Another example is Los Angeles County, where the rent costs on average $2,100 per month or 38% of income, and the median price of a home is around $630,000, almost 10 times the median yearly income of $66,000 in this area.
One solution to this issue is to move, so we decided to take a look at population movements within the U.S., using the most recent U.S. Census county-level population data. According to the U.S. Census Bureau, around 55% of those who decide to move do so for a housing-related reason, such as to relocate to a new or better home, to find cheaper housing, or to own their home instead of rent.
Maricopa County tops the list of desirable places to relocate with a 221,000 net population increase via domestic migration between 2012 and 2017.
The median household income in the Phoenix area is around 63,000, only about $3,000 less than that in Los Angeles metro ($66,000). Meanwhile, the rent is $1,000 per month cheaper in Phoenix.
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I did some digging and Pinal country grew by about 50k over the same period meaning our metro went up 271k in 5 years which is quite impressive. The state in general grows by nearly 100k a year with ~75% of that coming to the phoenix metro.
There was another forum where it was showing a table of the types of incomes leaving california, the the claim being only low income people were leaving california, and while that is true for the population moving to Texas, Arizona is actually receiving a majority Cali refugees with Incomes 50K and above and the largest proportion of wealthy californias.
While 50k is below the average household income it is still decidedly middle class for Arizona.
This is all good news.