PHOENIX — The Phoenix metro lost a little ground in the 2023 Milken Institute Best-Performing Cities Index, but it remained one of the nation’s top 10 cities in the authoritative yearly assessment.
The Valley dropped four spots from No. 4 last year to No. 8 this year on the index, which is an annual measure of economic resiliency in more than 400 U.S. metros. This is the first year in a while that Phoenix has fallen rather than risen in the rankings. Phoenix jumped from No. 12 in 2020 to No. 7 in 2021 to No. 4 in 2022.
Still, being in the top 10 puts a metro in the elite tier of cities, and Phoenix has been there for three straight years. Milken said the Valley stands out for its medium-term job and wage growth, and for the fact that it is above the median among large cities on all but two components of the institute’s BPC index.
