Phoenix is the capital and most populous city of the U.S. state of Arizona. With 1,626,078 people (as of 2017), Phoenix is the fifth most populous city nationwide, the most populous state capital in the United States, and the only state capital with a population of more than one million residents.

Nicknamed the "Valley of the Sun," the Greater Phoenix area sees more sunshine than any other metro area in the country. That in and of itself is enough to entice people to lay down roots, but Arizona's capital also features a desirable combination of a thriving job market, a relatively low cost of living and plenty of ways to enjoy the nice weather.

Phoenix is the best place to get a sampling of all the state has to offer. Its downtown area may be characterized by sleek, ultramodern office buildings, but the city center is not all about work. Phoenix also contains ample opportunities to play. Sports stadiums, arts and shopping districts fringe downtown, as do some of the area's finest eateries.

Within the Valley of the Sun, you can trace Arizona's history from its earliest Hohokam residents at the Pueblo Grande Museum and Archaeological Park to the latest technological developments showcased at the Arizona Science Center. Plus, Greater Phoenix's 2,000-plus square miles sprawl to the bottom of striking desert mountains crisscrossed by hiking and biking trails.

U.S. News analyzed 150 metro areas in the United States to find the best places to live based on quality of life and the job market in each metro area, as well as the value of living there and people's desire to live there.

Phoenix, Arizona is ranked:

 #40 in Best Places to Live

 #59 in Best Places to Retire

 #24 in Fastest-Growing Places

An aerial photo shows the two of the "supplier sites" designated to support the Taiwan Semiconductor Manufacturing Co. plant in north Phoenix. Land for two of the sites was sold at auction in March 2021.

Hundreds of homes are being planned near the Taiwan Semiconductor Manufacturing Co. Ltd.'s 1,128-acre manufacturing plant under construction near Interstate 17 and Loop 303 in north Phoenix. In the first phase alone, TSMC is creating jobs for 1,900 people, giving homebuilders a captive audience of employees when production begins at the plant in 2024.

One of the nation's largest homebuilders has been working with the city of Phoenix on a 70-acre site along Interstate 17 south of Loop 303 long before TSMC announced plans to build a plant nearby, said Jeff Gunderson, senior vice president of land operations for Miami, Florida-based Lennar Corp. (NYSE: LEN)

After opening escrow in October 2019 on that site, Lennar closed on the land last month, paying $8 million to Eugene Gabrych for the 190-acre parcel, according to Tempe-based Vizzda LLC real estate database.