Achieving the American dream is still well within reach for would-be homeowners in Maricopa County, but housing price growth is outpacing wage growth according to data released Thursday by RealtyTrac, a provider of U.S. housing and property data.
According to the study, Maricopa County landed on the list of the five most-populated county housing markets in the nation where price growth outpaced wage growth, with 8 percent median home price growth and 2 percent average wage growth in the first quarter of this year compared to the third quarter of last year.
In other words, our housing market is improving, but our wages aren't necessarily keeping up.
But houses in Arizona's most populous county are still more affordable compared to historical numbers.
The top three counties in our state with the most median home sales price growth from Q4 2015 to Q1 2016:
- Santa Cruz -- up 8 percent
- Graham -- up 3 percent
- Mohave -- up 2 percent
Which Arizona counties have seen the biggest jump or drop in median home sales pricing from the last quarter of 2015? Click the map to see where yours ranks.