Maricopa came in at ninth on the list with the average annual mortgage payment of $6,169 and a median income of $65,214, the highest in Pinal County.
Maricopa City MayorChristian Pricesaid that the high median income and wages have been attracting new residents and adding to the city’s growth.
“The city is only 13 years old and that makes it very attractive to homeowners and businesses,” said Price.
Maricopa was one of the Arizona cities that was hit hardest by the Great Recession due to the high number of foreclosures.
“Other cities lost businesses but all we had were homes and that’s what we lost at that time,” said Price. “Since then, we went back to the drawing board to figure out how to continue attracting businesses and creating housing opportunities.”
El Mirage was ranked as the fourth most affordable city in Arizona with the average annual mortgage payment at $4,345.
“El Mirage’s inventory of available homes are ideally suited for younger families and first-time homebuyers,” saidSpencer Isom, the city manager of El Mirage.
The city experienced a 405 percent increase in population from 8,375 residents in 2000 to 33,934 residents in 2016, according to Isom.
Holbrook was named the most affordable place to live in Arizona followed by Coolidge and Tuba City, according to the SmartAsset.com study.
Report by Ricky KhamisRealtor Report2016 Best Year for Housing in a De
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