How Arizona Cities Rank Nationally for Highest Income Growth

How Arizona Cities Rank Nationally for Highest Income Growth

Arizona Income Growth 2024: What It Means for Scottsdale Real Estate

Arizona continues to shine on the national stage — this time for its impressive growth in household incomes. While the nationwide median household income in 2024 reached $83,730 (just a 1.3% increase year-over-year, lagging behind inflation), three Arizona cities bucked the trend in a big way. Tucson, Mesa, and Phoenix all ranked among the Top 20 U.S. cities for household income growth between 2023 and 2024, according to a new SmartAsset report. Source: SmartAsset 2025 Study

This rise in earnings not only reflects the state’s strong economy but also has significant implications for the local housing market, especially in nearby high-demand areas like Scottsdale.

Arizona’s Standout Cities

Phoenix: Economic Engine of the Southwest

As the fifth-largest city in the United States, Phoenix continues to attract corporations, entrepreneurs, and young professionals. With a rapidly expanding job market in tech, healthcare, and finance, household incomes have seen consistent growth. This rising income base helps fuel demand for homes across the Valley, including luxury neighborhoods and investment properties.

Mesa: Growing Families, Growing Incomes

Mesa’s income growth highlights the city’s appeal for young families and professionals seeking affordability without sacrificing amenities. With its strong school districts, proximity to major employment hubs, and steady development, Mesa is becoming a magnet for homebuyers. This growth spills over into Scottsdale, as higher household earnings in nearby markets often increase demand for move-up homes and luxury living options.

Tucson: A Rising Star in Southern Arizona

Tucson’s economy is experiencing a renaissance, driven by its expanding aerospace sector, thriving university presence, and growing healthcare system. The city’s rise in household income has made it more competitive nationally while reinforcing its position as an attractive hub for both retirees and young professionals.

Why This Matters for Scottsdale Real Estate

Income growth is one of the most important drivers of housing demand. Higher household earnings mean more buyers entering the market with the ability to afford larger or more luxurious homes. For Scottsdale, this trend is especially important:

• Increased Demand for Luxury Properties: As Phoenix and Mesa residents see their incomes climb, many look toward Scottsdale for its premier golf communities, upscale shopping, and luxury amenities.

• Investment Opportunities: Rising incomes in nearby cities can push demand upward in Scottsdale’s rental and investment property market.

• Resilience Against Inflation: While national income growth lagged behind inflation, Arizona’s strong showing highlights the region’s economic resilience — a key factor for long-term real estate value.
  
  

Looking Ahead

As Tucson, Mesa, and Phoenix climb the ranks for household income growth, the ripple effects across Arizona’s housing markets are clear. Scottsdale, known for its lifestyle-driven luxury market, is well positioned to benefit from these gains. For both homebuyers and investors, this combination of economic strength and rising demand makes Scottsdale one of the most compelling real estate markets to watch in 2025 and beyond.

Ready to Explore Scottsdale Real Estate?

Are you considering making Scottsdale your home — or adding a luxury property to your portfolio? With incomes rising across Arizona’s major cities, now is the time to explore your options.

As your trusted Scottsdale real estate expert, Denise McManus offers the local knowledge, market insight, and personalized guidance you need to navigate this dynamic market. Whether you’re searching for a luxury estate, a modern retreat, or an investment opportunity, Denise is here to help you find the perfect property.

Contact Denise today to schedule a private consultation and discover how Arizona’s economic growth can translate into your next real estate success in Scottsdale.

Top 20 income growth changes by U.S. city

Cities are ranked based on the one-year change in median household income according to the latest Census Bureau data. SmartAsset 2025 Study

1. Tampa, Florida

Change in household income: 15.46%

• Household income, 2024: $84,114

• Household income, 2023: $72,851

• Change in senior income: 17.38%

• Senior household income, 2024: $48,632

• Senior household income, 2023: $41,431

• Change in family income: -6.21%

• Family household income, 2024: $97,219

• Family household income, 2023: $103,657

2. Long Beach, California

Change in household income: 11.90%

• Household income, 2024: $91,318

• Household income, 2023: $81,606

• Change in senior income: 14.74%

• Senior household income, 2024: $73,695

• Senior household income, 2023: $64,228

• Change in family income: 16.65%

• Family household income, 2024: $98,914

• Family household income, 2023: $84,793

3. San Francisco, California

Change in household income: 10.31%

• Household income, 2024: $139,801

• Household income, 2023: $126,730

• Change in senior income: 14.48%

• Senior household income, 2024: $67,415

• Senior household income, 2023: $58,888

• Change in family income: 27.51%

• Family household income, 2024: $222,836

• Family household income, 2023: $174,759

4. Fresno, California

Change in household income: 10.19%

• Household income, 2024: $74,491

• Household income, 2023: $67,603

• Change in senior income: 0.67%

• Senior household income, 2024: $56,143

• Senior household income, 2023: $55,768

• Change in family income: 29.04%

• Family household income, 2024: $81,314

• Family household income, 2023: $63,013

5. Louisville, Kentucky

Change in household income: 9.37%

• Household income, 2024: $67,251

• Household income, 2023: $61,488

• Change in senior income: -1.26%

• Senior household income, 2024: $48,232

• Senior household income, 2023: $48,846

• Change in family income: 9.60%

• Family household income, 2024: $76,692

• Family household income, 2023: $69,977

6. San Jose, California

Change in household income: 8.81%

• Household income, 2024: $148,226

• Household income, 2023: $136,229

• Change in senior income: 7.67%

• Senior household income, 2024: $84,007

• Senior household income, 2023: $78,026

• Change in family income: 13.74%

• Family household income, 2024: $201,721

• Family household income, 2023: $177,360
  
  

7. Baltimore, Maryland

Change in household income: 8.73%

• Household income, 2024: $64,778

• Household income, 2023: $59,579

• Change in senior income: 2.01%

• Senior household income, 2024: $39,444

• Senior household income, 2023: $38,667

• Change in family income: 2.11%

• Family household income, 2024: $65,554

• Family household income, 2023: $64,201

8. Tucson, Arizona

Change in household income: 8.57%

• Household income, 2024: $60,483

• Household income, 2023: $55,708

• Change in senior income: 3.09%

• Senior household income, 2024: $48,721

• Senior household income, 2023: $47,261

• Change in family income: 15.03%

• Family household income, 2024: $72,896

• Family household income, 2023: $63,374

9. Chicago, Illinois

Change in household income: 8.24%

• Household income, 2024: $80,613

• Household income, 2023: $74,474

• Change in senior income: 12.31%

• Senior household income, 2024: $48,564

• Senior household income, 2023: $43,242

• Change in family income: 6.22%

• Family household income, 2024: $86,936

• Family household income, 2023: $81,845

10. Mesa, Arizona

Change in household income: 8.13%

• Household income, 2024: $85,580

• Household income, 2023: $79,145

• Change in senior income: 4.94%

• Senior household income, 2024: $63,719

• Senior household income, 2023: $60,721

• Change in family income: 10.63%

• Family household income, 2024: $101,812

• Family household income, 2023: $92,030

11. Columbus, Ohio

Change in household income: 7.59%

• Household income, 2024: $67,084

• Household income, 2023: $62,350

• Change in senior income: 11.83%

• Senior household income, 2024: $52,399

• Senior household income, 2023: $46,857

• Change in family income: 11.26%

• Family household income, 2024: $67,152

• Family household income, 2023: $60,354

12. Arlington, Texas

Change in household income: 7.48%

• Household income, 2024: $74,388

• Household income, 2023: $69,208

• Change in senior income: 19.18%

• Senior household income, 2024: $69,838

• Senior household income, 2023: $58,600

• Change in family income: 17.85%

• Family household income, 2024: $78,499

• Family household income, 2023: $66,607

13. Kansas City, Missouri

Change in household income: 7.26%

• Household income, 2024: $69,958

• Household income, 2023: $65,225

• Change in senior income: 0.15%

• Senior household income, 2024: $49,706

• Senior household income, 2023: $49,633

• Change in family income: -3.42%

• Family household income, 2024: $85,518

• Family household income, 2023: $88,548

14. Charlotte, North Carolina

Change in household income: 7.24%

• Household income, 2024: $86,416

• Household income, 2023: $80,581

• Change in senior income: 16.25%

• Senior household income, 2024: $60,284

• Senior household income, 2023: $51,855

• Change in family income: 0.80%

• Family household income, 2024: $101,022

• Family household income, 2023: $100,220

15. Tulsa, Oklahoma

Change in household income: 7.23%

• Household income, 2024: $60,930

• Household income, 2023: $56,821

• Change in senior income: 4.41%

• Senior household income, 2024: $51,597

• Senior household income, 2023: $49,420

• Change in family income: 13.01%

• Family household income, 2024: $66,730

• Family household income, 2023: $59,049

16. Milwaukee, Wisconsin

Change in household income: 7.17%

• Household income, 2024: $56,792

• Household income, 2023: $52,992

• Change in senior income: -0.87%

• Senior household income, 2024: $39,323

• Senior household income, 2023: $39,670

• Change in family income: 2.28%

• Family household income, 2024: $49,787

• Family household income, 2023: $48,679

17. Fort Worth, Texas

Change in household income: 7.03%

• Household income, 2024: $82,503

• Household income, 2023: $77,082

• Change in senior income: 5.23%

• Senior household income, 2024: $56,340

• Senior household income, 2023: $53,540

• Change in family income: 9.33%

• Family household income, 2024: $100,426

• Family household income, 2023: $91,859

18. Phoenix, Arizona

Change in household income: 7.01%

• Household income, 2024: $85,246

• Household income, 2023: $79,664

• Change in senior income: 8.88%

• Senior household income, 2024: $62,012

• Senior household income, 2023: $56,952

• Change in family income: 8.83%

• Family household income, 2024: $91,106

• Family household income, 2023: $83,717

19. Las Vegas, Nevada

Change in household income: 6.47%

• Household income, 2024: $78,556

• Household income, 2023: $73,784

• Change in senior income: 6.06%

• Senior household income, 2024: $60,236

• Senior household income, 2023: $56,792

• Change in family income: 11.68%

• Family household income, 2024: $86,516

• Family household income, 2023: $77,471

20. Sacramento, California

Change in household income: 6.35%

• Household income, 2024: $91,387

• Household income, 2023: $85,928

• Change in senior income: 14.55%

• Senior household income, 2024: $73,949

• Senior household income, 2023: $64,555

• Change in family income: -3.62%

• Family household income, 2024: $96,061

• Family household income, 2023: $99,673