General Facts about the 'Valley of the Sun':

Phoenix was incorporated as a city in 1881 after being founded in 1861 near the Salt River, near its confluence with the Gila River. Phoenix has maintained a growth streak in recent years, growing by 24.2% since 2000. This makes it the second-fastest-growing metropolitan area in the United States following only Las Vegas, whose population has grown by 29.2% since 2000. In 2008, Phoenix was one of the hardest hit by the Subprime mortgage crisis. In early 2009, the median home price was $150,000, down from its $262,000 peak in recent years.