Long known as a destination for snowbirds as well as aviation lovers, Arizona is a major desert state that soaks up the sun and bakes in the summer. With picturesque landscapes, the state has often been used as a movie set for westerns that needed tall geological spires in the background and red sand for a setting. Arizona is also home to the famous Grand Canyon as well as Meteor Crater, one of the best-preserved impact craters in the world. With major population centers in Phoenix, Tucson, and Flagstaff, the state is known for its universities and research institutions. For those looking for a retirement home in a warm climate, Arizona fits the bill, with extensive networks that help retirees settle in and find the right community.

Arizona is one of the larger states in the country. As of 2025, its population of more than 7.5 million people ranks it roughly 14th among the states, and it remains one of the fastest-growing states in the nation. Arizona also has one of the larger U.S. state economies, with output that rivals that of many smaller nations. While government is a major employer, the state is also home to a broad mix of private employers across health care, technology, aerospace, retail, and logistics, including companies such as Banner Health, Walmart, Amazon, Intel, Honeywell, and Raytheon (RTX).

Here are two interesting facts about Arizona: Kitt Peak National Observatory near Sells hosts one of the world's largest collections of optical telescopes, and the state's Parker Dam is often cited as the world's deepest dam.

The Cities of Arizona

There are a number of interesting cities in the state, some well known and others that are hidden gems. Here are five of Arizona's largest and most notable cities (populations are approximate, based on recent U.S. Census Bureau estimates):

Phoenix

Population: approximately 1.6 million

Easily the best-known Arizona city, Phoenix is the state capital, its largest city by population, and one of the largest cities in the United States. The city's economy is very diverse, with job opportunities ranging from high tech to government to tourism. Phoenix and its surrounding metro are home to several Fortune 500 companies, including Freeport-McMoRan, Avnet, and Republic Services.

Tucson

Population: approximately 545,000

Tucson, the state's second largest city, is located in southern Arizona. Home to the University of Arizona, Tucson's population skews younger than the rest of the state. Among the largest employers in the area are the University of Arizona, Raytheon (RTX) Missiles & Defense, the state of Arizona, and Davis-Monthan Air Force Base.

Mesa

Population: approximately 510,000

The third largest city in Arizona is home to a variety of interesting cultural destinations. These include the Mesa Grande Ruins and the Mesa Arts Center. Mesa's largest employers include its public school system, health care systems, and the city and higher-education institutions.

Chandler

Population: approximately 280,000

Chandler is one of Arizona's hotbeds for high technology. Companies such as Intel and Northrop Grumman have major operations in Chandler, and technology firms account for a significant share of local employment.

Glendale

Population: approximately 250,000

Glendale is a city located less than 10 miles from downtown Phoenix. It is home to State Farm Stadium (formerly University of Phoenix Stadium), where the National Football League's Arizona Cardinals play. Neighboring Gilbert has also grown into one of the state's largest municipalities in recent years.

Banks and Credit Unions in Arizona

Consumers in Arizona can find a wide range of financial institutions to take care of all their banking needs. Here are a few banks and credit unions that are headquartered in the state:

  • Western Alliance Bank (Phoenix)
  • National Bank of Arizona (Phoenix)
  • Desert Financial Credit Union (Phoenix)
  • Arizona Financial Credit Union (Phoenix)
  • OneAZ Credit Union (Phoenix)
  • TruWest Credit Union (Tempe)
  • Hughes Federal Credit Union (Tucson)
  • Vantage West Credit Union (Tucson)

National banks with a large presence in Arizona include Bank of America, Wells Fargo, JPMorgan Chase, U.S. Bank, and BMO (which acquired the former Bank of the West in 2023).

Arizona Home Loans

Whether you're shopping in Phoenix, Chandler, or anywhere else in the state of Arizona, you'll have a lot of options for obtaining your Arizona home loan. Ratezip.com is designed to help, providing homebuyers valuable mortgage rate comparisons to find the right lender for a purchase or refinance. Keep reading and then get started by comparing quotes from multiple lenders.

As of 2026, the typical home value in Arizona is roughly $420,000, according to Zillow's Home Value Index. Home values in the state have risen sharply over the past decade, more than recovering from the housing downturn that hit Arizona and other "sand states" like Nevada especially hard. Values can vary widely by metro and neighborhood, so it's worth researching your specific area.

First-time buyers in Arizona may also want to explore the HOME Plus program from the Arizona Industrial Development Authority, the state's leading down payment assistance program, which pairs a 30-year fixed-rate mortgage with assistance toward the down payment and closing costs for qualified borrowers.

Compare quotes on fixed-rate mortgages, ARMs, jumbo, and FHA loans using RateZip's financial search engine, and check current rates before you lock. We've been helping consumers in Arizona find a great mortgage rate since 1997!