Salary & Cost of Living in Phoenix, AZ
Phoenix, AZ: $60,500 median salary, cost of living index 103, $14.70/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$60,500
$29/hr
Cost of Living
103
US avg = 100
Minimum Wage
$14.70
per hour
Unemployment
3.5%
rate
Phoenix, AZ Overview
Population
1,608,139
Median Salary
$60,500
Average Salary
$67,200
Avg Commute
27 min
Median Home Price
$380,000
Median Rent
$1,450/mo
Job Growth
+2.8%
Sales Tax
8.6%
Phoenix is located in Arizona with a population of 1,608,139. The median household salary is $60,500 per year ($29/hour), which is $1,116 above the national median of $59,384. The average commute time is 27 minutes, and the city has a job growth rate of +2.8%.
Phoenix Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Phoenix, AZ, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$49,138
$4,094.81/month · $1,889.91/biweekly · Effective Rate: 18.8%
Gross Pay
$60,500
Federal Tax
-$5,222
State Tax
-$1,513
Local Tax
$0
FICA
-$4,628
Net Pay
$49,138
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $5,041.67 | $60,500.00 |
| Federal Income Tax | -$435.13 | -$5,221.50 |
| Arizona State Tax (2.5%) | -$126.04 | -$1,512.50 |
| Social Security (6.2%) | -$312.58 | -$3,751.00 |
| Medicare (1.45%) | -$73.10 | -$877.25 |
| Net Take-Home Pay | $4,094.81 | $49,137.75 |
Salary Comparison: Phoenix vs Other Cities
See how Phoenix's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Phoenix, AZ | $60,500 | 103 | $58,738 |
| National Average | $59,384 | 100 | $59,384 |
| Surprise, AZ | $61,000 | 99 | $61,616 |
| Tampa, FL | $60,000 | 102 | $58,824 |
| Idaho Falls, ID | $60,000 | 93 | $64,516 |
| Joliet, IL | $60,000 | 90 | $66,667 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Phoenix
Phoenix's cost of living index is 103 (national average = 100). Living in Phoenix is 3% more expensive than the national average.
Median Home Price
$380,000
Median Monthly Rent
$1,450
Annual Rent Cost
$17,400
Your Salary's Purchasing Power
Your $49,138 annual take-home pay in Phoenix has the purchasing power of approximately $47,707 in an average-cost US area. You would need to earn $62,315 in Phoenix to match a $60,500 salary in an average-cost city.
Top Industries in Phoenix
Phoenix's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $60,500.
Salary Tips for Phoenix Workers
- Research top industries. Phoenix's top industries include Technology, Healthcare, Finance. Targeting roles in these sectors can help you earn above the $60,500 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Explore Salaries Across the US
Compare salary data and cost of living for hundreds of US cities. Find out where your paycheck goes the furthest.
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Frequently Asked Questions
What is the median salary in Phoenix, AZ?
The median salary in Phoenix, AZ is $60,500 per year, or $29 per hour. The average salary is $67,200. This is $1,116 above the national median of $59,384.
What is the cost of living in Phoenix, AZ?
Phoenix's cost of living index is 103 (national average = 100), meaning it is 3% more expensive compared to the national average. The median home price is $380,000 and the median monthly rent is $1,450.
What are the best industries in Phoenix?
The top industries in Phoenix, AZ include Technology, Healthcare, Finance. The city has a job growth rate of 2.8% and an unemployment rate of 3.5%. Workers in these industries often earn above the city's median salary of $60,500.
How does Phoenix's salary compare to other cities?
Phoenix's median salary of $60,500 is 1.9% above the national median of $59,384. However, when adjusted for cost of living (index: 103), the real purchasing power is approximately $58,738.
What is the minimum wage in Phoenix, AZ?
The minimum wage in Phoenix, AZ is $14.70 per hour. This equals approximately $30,576 per year for a full-time worker (40 hours/week). This is $7.45 above the federal minimum wage of $7.25/hour.