Population

Phoenix is one of the fastest growing cities and metropolitan areas in the United States. With a population of almost 1.4 million, the state capital of Arizona ranks as the nation's fifth largest city. Its metropolitan population is approaching 3.5 million today, making it the 14th largest in the country -- a dramatic ten-fold increase to the metro figure of 333,770 in 1950. This impressive expansion is due to the quality of life, climate and economic opportunities found in Phoenix. By the year 2010, the area is projected to grow to more than 4.15 million people.

Continued in-migration plus reasonable living costs keep wages competitive compared to most major metropolitan areas. The median house resale price was $177,500 in 2004. The expanding base of workers helps make Phoenix an attractive location for expanding firms.

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