U.S. GDP RANK #15 · AZ 1.93% OF U.S. GDP
Arizona Economy: GDP, Income, Jobs & Housing
In 2025, Arizona (AZ) generated $592.1 billion in nominal Gross Domestic Product (1.93% of the U.S. economy, ranked #15 nationwide) and $451.5 billion in real chained 2017 dollars. Per-capita personal income stood at $68,373 across a resident population of 7.62 million.
2025 Nominal GDP
$592.1B
U.S. Rank #15
Real GDP Growth
+1.46% 5Y Real: +23.3%
Per-Capita Income $68,373 BEA Personal Income
Avg Wage / Job $74,214 4.46M total jobs
Population 7.62M
10Y: +13.7%
5Y Home Price
+58.6% FHFA Index: 723.5
BEA & FHFA REGIONAL SERIES · 1997-2025
Arizona GDP, Per-Capita Income & House Price Trajectory
Arizona Historical Economic Ledger (1997-2025)
| Year | Nominal GDP ($B) | Real GDP ($B) | Real YoY % | Per-Capita Inc | Avg Wage/Job | Jobs (M) | FHFA HPI |
|---|---|---|---|---|---|---|---|
| 2025 | $592.1B | $451.5B | 1.46% | $68,373 | $74,214 | 4.46M | 723.5 |
| 2024 | $566.8B | $445.0B | 4.02% | $65,563 | $71,660 | 4.45M | 710.2 |
| 2023 | $529.6B | $427.8B | 3.22% | $63,159 | $68,505 | 4.36M | 680.8 |
| 2022 | $488.1B | $414.5B | 4.17% | $59,055 | $65,972 | 4.25M | 673.2 |
| 2021 | $439.5B | $397.9B | 8.70% | $57,116 | $63,035 | 4.09M | 556.3 |
| 2020 | $390.0B | $366.0B | 1.81% | $51,996 | $59,542 | 3.92M | 456.2 |
| 2019 | $375.4B | $359.5B | 3.80% | $47,646 | $54,948 | 3.93M | 421.5 |
| 2018 | $353.7B | $346.4B | 3.99% | $45,223 | $53,043 | 3.86M | 395.2 |
| 2017 | $333.1B | $333.1B | 4.42% | $43,182 | $51,233 | 3.74M | 366.4 |
| 2016 | $313.8B | $319.0B | 3.38% | $41,085 | $49,502 | 3.65M | 340.8 |
| 2015 | $298.9B | $308.6B | 2.27% | $39,773 | $48,849 | 3.55M | 319.3 |
| 2014 | $286.7B | $301.7B | 0.96% | $38,127 | $47,856 | 3.45M | 300.8 |
| 2013 | $278.7B | $298.9B | 0.60% | $36,752 | $46,838 | 3.37M | 275.8 |
| 2012 | $272.7B | $297.1B | 2.30% | $36,171 | $46,493 | 3.30M | 243.7 |
| 2011 | $261.7B | $290.4B | 2.89% | $35,032 | $45,412 | 3.24M | 234.0 |
| 2010 | $250.5B | $282.3B | 1.74% | $33,536 | $44,138 | 3.18M | 262.5 |
| 2009 | $244.9B | $277.4B | -8.23% | $33,295 | $43,596 | 3.23M | 299.3 |
| 2008 | $261.0B | $302.3B | -1.41% | $35,586 | $43,311 | 3.40M | 355.8 |
| 2007 | $261.2B | $306.6B | 3.44% | $35,602 | $42,296 | 3.47M | 413.0 |
| 2006 | $246.1B | $296.4B | 4.45% | $34,460 | $40,700 | 3.38M | 417.1 |
| 2005 | $228.0B | $283.8B | 7.10% | $32,150 | $38,742 | 3.22M | 351.8 |
| 2004 | $207.2B | $265.0B | 4.43% | $30,154 | $37,160 | 3.04M | 271.2 |
| 2003 | $194.3B | $253.7B | 6.50% | $28,384 | $35,510 | 2.92M | 241.0 |
| 2002 | $180.8B | $238.3B | 3.19% | $27,325 | $34,455 | 2.85M | 227.8 |
| 2001 | $172.9B | $230.9B | 2.74% | $26,946 | $33,793 | 2.83M | 216.1 |
| 2000 | $165.7B | $224.7B | 4.87% | $26,271 | $32,840 | 2.80M | 202.7 |
| 1999 | $156.4B | $214.3B | 8.51% | $24,866 | $30,765 | 2.70M | 191.2 |
| 1998 | $144.4B | $197.5B | 9.54% | $24,130 | $29,512 | 2.62M | 182.6 |
| 1997 | $132.7B | $180.3B | - | $22,757 | $27,849 | 2.50M | 173.5 |