Income growth surpassed rental growth in 37 of the largest 50 U.S. metros this October — including Phoenix, according to new research from Zillow. 

The typical asking rent for an average rental unit decreased 0.7% to $1,763. Meanwhile, the median household income grew 3.9% during the same time frame. 

At this rate, a new renting household earning the median income would need to spend 22.3% of their income to afford the typical rent — below the national average of 27.2%.

Phoenix residents also have increasing access to forms of rental assistance. Data showed that 57% of rental units in the city offer concessions, up from 51.3% a year ago.