OUR MARKET

Why Advertise in Phoenix?

We've said it before and we'll say it again: nobody knows the Phoenix market like we do. (When you've been around more than 110 years like we have, you learn a few things.) Which is why we've compiled a few helpful stats about our market, including population, housing, retail, tourism and employment. Why are these things important? Because a healthy market is an active market - and that's just good for business.

Fun Facts

Phoenix is a growing market, home to more than 4.3 million in population and ranked 13th amongst major metropolitan areas in the nation.

  • Greater Phoenix was recently ranked by Forbes as a Top 10 next big boomtown in the U.S.
  • CNBC ranked Arizona No. 1 for workforce
  • Greater Phoenix was Inc. magazine's pick for top 20 U.S. cities for start-up companies
  • Entrepreneur magazine ranked Greater Phoenix a Top 10 spot for entrepreneurs
  • Phoenix boasts a young market with nearly 500,000 students at any given time, and the region is home to several renowned universities and colleges
  • Arizona State University was ranked fifth by the Wall Street Journal for producing the best prepared and most highly recruited students for the job market

Sources: Nielsen 2013, Greater Phoenix Economic Council

Population

  • Between 2000 and 2013 the Phoenix metro population grew by 34%
  • By 2018 Phoenix metro population is forecast to grow by 6%

Source: Nielsen 2013

Housing

  • In the Phoenix metropolitan Area, 71% of median income households are able to afford median priced homes
  • The worst of the housing crisis is over and foreclosure rates are very low, accounting for only 10.4% of overall home sales in November 2013, compared to 17% last year at the same time

Source: Metro Study, NAHB/Wells Fargo Housing Opportunity Index

Retail

  • Phoenix metro retail taxable sales in 2013 were 9% higher than the previous year at almost $3 billion dollars year-over-year basis
  • Retail taxable sales are expected to continue to improve in 2014, increasing by over 6%

Source: Arizona Department of Revenue, Greater Phoenix Blue Chip

Tourism

Tourism is Arizona's top export-oriented industry and directly impacts all 15 counties. By generating thousands of jobs, millions of dollars in earnings, and billions of dollars in tax revenues, tourism is vital to Arizona's economic vitality.

  • Phoenix Sky Harbor serves more than 100,000 passengers, with 1,500 flights, and a daily economic impact that surpasses $90 million for the Phoenix metro area
  • The METRO Light Rail system features a 20-mile starter line with 28 stations and on average serves 40,000 riders daily

Source: Arizona Office of Tourism

Employment

  • Unemployment rates for the Phoenix metro in November 2013 are leading the nation at 6.7% among other major metros and is well below the national average (7.0%)
  • Arizona is projected to gain 98,000 jobs, representing a growth rate of 2.1% over the next two years
  • Of the 213,000 jobs lost throughout the recession, the Phoenix metro has recovered over 125,000 positions in the past 3 years.

Source: Arizona Department of Administration

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