Phoenix Real Estate Demographics
As of the 2005-2007 US Census Bureau’s American Community Survey estimate, there were 1,440,018 people, 483,915 households, and 308,584 families residing in Phoenix, Arizona. The racial makeup of Phoenix was 76.5% White, 41.5% Hispanic, 2.3% Asian, 5.5% Black or African American, 2.0% Native American, 0.1% Pacific Islander, 13.5% from other races.
Of the Phoenix real estate households, 38.1% had children under the age of 18 living with them, 43.8% were married couples living together. Individuals accounted for 28.4 % of all Phoenix real estate households and 6.2% had someone living alone who was 65 years of age or older. The average household size was 2.67 and the average family size was 3.67.
In the city the population age distribution was 31.7% under the age of 20, 6.9% from 20 to 24, 32.3% from 25 to 44, 21.5% from 45 to 64, and 7.7% who were 65 years of age or older. The median age was 31.5 years.
The average income for a family in Phoenix, Arizona was $73,069. Per capita income for the city was $23,369. 15.8% of the population and 11.5% of families were below the poverty line. Out of the total population, 24.8% of those under the age of 18 and 11.1% of those 65 and older were living below the poverty line.
Phoenix real estate is comprised of 543,568 housing units of which 67.3% is owner-occupied and 32.7 is renter-occupied.
Phoenix Real Estate and Economy
Our strong economy plays a large role in Phoenix real estate values. Phoenix is currently home to seven Fortune 1000 companies: waste management company Allied Waste, electronics corporation Avnet, education provider Apollo Group (which operates the University of Phoenix), retailer CSK Auto, mining company Freeport-McMoRan, retailer PetSmart, energy supplier Pinnacle West. Honeywell's Aerospace division is headquartered in Phoenix, and the valley has many of their mechanical and avionics facilities. Intel has one of their largest sites here, employing about 10,000 employees and 3 chip manufacturing fabs, including the $3 billion state-of-the-art 300 mm and 45nm Fab. American Express hosts their financial transactions, customer service, and their entire website from Phoenix. Nearby, US Airways Group, a Fortune 500 company is headquartered in Tempe, Arizona as well as Insight Enterprises (also listed on the Fortune 500). Phoenix is also home to Best Western, a hotel chain, and U-HAUL International, a rental company and moving supply store.
In recent years, Phoenix real estate has become home to many Internet companies have. Internet companies like GoDaddy.com, eBay, IPowerWeb, Google, AOL, and Easynews all have major offices located in Phoenix.
The military has a significant presence in with Luke Air Force Base located in the west of Phoenix.
Phoenix Real Estate and Climate
Due to the warm climate in winter, Phoenix real estate benefits greatly from recreational and seasonal tourism, and has a particularly robust golf industry. Phoenix has an arid climate, with hot summers and temperate winters. Annually, the temperature reaches or exceeds 100°F (38°C) on an average of 110 days, including most days from late May through early September. Highs can top 110 °F (43 °C) an average of 18 days during the year. Throughout the year, the night time low will bet at or above 80 °F (27 °C) for 67 days .
Phoenix, Arizona averages 85% of possible sunshine and averages 8.3 inches annual rainfall at Phoenix Sky Harbor International Airport. March is the wettest month of the year (1.1 inches) with June being the driest (0.1 inches). Precipitation is light during a large part of the summer, but the influx of moisture during Phoenix’s monsoon season, which usually starts in early July and lasts until mid-September, raises humidity levels and can cause localized heavy precipitation and flooding. Winter months are mild, with daily highs ranging from the mid-60's to low 70's, and lows rarely dipping below 40 °F (4 °C). Winter storms moving inland from the Pacific Ocean into Metro Phoenix occasionally produce significant rains but occur infrequently. Fog is rare but can be observed from time to time during the winter months.
Phoenix Real Estate and Sports
Phoenix is home to several professional sports franchises, and area residents enjoy year-round games. Phoenix real estate benefits from this lifestyle.
The first major franchise was the Phoenix Suns of the National Basketball Association (NBA), which started play in 1968. In 1997, the Phoenix Mercury was one of the original eight teams to launch the Women's National Basketball Association (WNBA). Both teams play at U.S. Airways Center. The U.S. Airways Center was the setting for both the 1995 and 2009 NBA All-Star Games. The Arizona Flame of the International Basketball League began play in the spring of 2007 and play at the Arizona Veterans Memorial Coliseum.
The National Football League's Arizona Cardinals moved to Phoenix from St. Louis, Missouri in 1988. The team, however, has never played in the within Phoenix itself; they played at Sun Devil Stadium on the campus of Arizona State University in nearby Tempe until 2006. The Cardinals now play at University of Phoenix Stadium in Glendale, Arizona. University of Phoenix Stadium hosted Super Bowl XLII on February 3, 2008, when the New York Giants defeated the New England Patriots. University of Phoenix Stadium is also the home of the annual Tostitos Fiesta Bowl, a college bowl game that is part of the Bowl Championship Series (BCS). Phoenix is also home to the Arizona Rattlers of the Arena Football League, and games are played at US Airways Center.
The Phoenix Coyotes of the National Hockey League moved to the area in 1996 (formerly the Winnipeg Jets), and play at Jobing.com Arena adjacent to University of Phoenix Stadium in Glendale, Arizona. Longtime minor league hockey team, the Phoenix Roadrunners, play at the US Airways Center.
The Arizona Diamondbacks of Major League Baseball began play as an expansion team in 1998, and plays at Chase Field in downtown Phoenix. In 2001, the Diamondbacks defeated the New York Yankees 4 games to 3 in the World Series. Due to the Arizona’s mild climate, nine Major League Baseball teams conduct spring training in metro Phoenix and nearby Tucson, and play in the Cactus League.
The Phoenix International Raceway is a major venue for two annual NASCAR auto racing events. Boat racing, drag racing, and road course racing are also held at Firebird International Raceway on the Gila River Indian Community. Sprint car racing is held at Manzanita Speedway.Phoenix has also hosted several major professional golf events, including the LPGA's Safeway International and The Tradition of the Champions Tour.
Phoenix Real Estate and EducationPublic education in the Phoenix area is provided by over 30 school districts. The Phoenix Union High School District operates most of the public high schools in the city of Phoenix.
Arizona State University is the main institution of higher education in the region, with campuses located in Tempe, Northwest Phoenix (West Campus), Downtown Phoenix (Downtown Campus) and Mesa (Polytechnic Campus). The University of Arizona College of Medicine in partnership with Arizona State University is located at the Downtown Phoenix campus. ASU is currently one of the largest public universities in the US with a 2008 student enrollment of 64,394.
Grand Canyon University is the nation’s only private, for-profit, Christian university. It currently has over 10,000 students; almost 85% attend the school online.
Midwestern University - Glendale is located in Glendale, Arizona northwest of Phoenix. It is home to a number of health care education programs at the doctorate and master's level. The degrees offered include the Doctor of Osteopathic Medicine (DO), Master of Medical Science (MMS) in Physician Assistant Studies, Doctor of Pharmacy (PharmD), Doctor of Clinical Psychology (PsyD), Master of Occupational Therapy (MOT), Doctor of Dental Medicine (DMD), and Doctor of Podiatric Medicine (DPM).
Thunderbird School of Global Management is regarded as a (if not the) leading institution in the international business education of global managers and has operations in the United States (Glendale, AZ), Switzerland, the Czech Republic, Russia, Mexico, Central and South America and China. American Indian College is a private, Christian college located in northwestern Phoenix.
The Art Institute of Phoenix is a small, private college which offers various majors in the areas of design, fashion, media, and culinary arts.
Western Governors University is an online, non-profit university. WGU has employees and students in Phoenix and throughout Arizona, and passed enrollment of 10,000 students throughout the U.S.
University of Phoenix is the nation’s largest for-profit university with over 130,000 students at campuses throughout the US, Canada, Mexico, and the Netherlands, as well as online.
University of Advancing Technology is a small, for-profit, technology-oriented university. The university is composed of four colleges, along with an online program for continuing adult education, and has about 1200 undergraduates and 50 postgraduates students.
Collins College is a for-profit college. The Phoenix Business Journal ranked Collins as Arizona’s top computer training school.
DeVry University and Argosy University are for-profit institutions with small campuses across the country and a large online presence.
Maricopa County Community College District includes 10 community colleges and two skills centers throughout Maricopa County, providing adult education and job training.
Phoenix Real Estate and Transportation
Phoenix real estate is served by Sky Harbor International Airport located near several major freeway interchanges east of downtown Phoenix. Sky Harbor is one of the 10 busiest airports in the U.S. and 17th in the world for passenger traffic. The airport serves more than 100 cities with non-stop flights.
The Phoenix-Mesa Gateway Airport, in neighboring Mesa, Arizona, also serves the area’s commercial air traffic. This airport now serves Allegiant Air as a focus city operation with non-stop service to over a dozen destinations. Smaller airports that primarily handle private and corporate jets include Phoenix Deer Valley Airport, as well as municipal airports including Glendale Municipal Airport and Phoenix Goodyear Airport.