Phoenix, AZ Cost Of Living
Cost Of Living In Phoenix, AZ Summary
Cost of living in Phoenix research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Phoenix is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Arizona, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Phoenix is 96, with 100 being the average.
The cost of living index in Phoenix is 1.0x lower than the national average.
Phoenix ranks as the #40 cheapest in Arizona out of 94.
Phoenix ranks as the #2,601 cheapest out of 6,412 in the US.
The median home value in Phoenix is $277,700.
The median income in Phoenix is $64,927.
Table Of Contents
Phoenix's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Phoenix, AZ?
According to the most recent data on the cost of living, Phoenix has an overall cost of living index of 96, which is 1.0x lower than the national index of 100.
Compared to Arizona, Phoenix has a cost of living index that's 0.9x lower than Arizona's index of 107.
The standard of living in Phoenix ranks as #40 most affordable out of the 94 places we measured in Arizona. By definition, that implies Phoenix ranks as the #54 most expensive place in the Grand Canyon State.
For more reading on life in Phoenix, check out:
- Living In Phoenix
- Phoenix Crime Report
- Search Homes For Sale In Phoenix, AZ
In Arizona
In America
Phoenix Cost Of Living Vs. Arizona
Six factors go into calculating the cost of living index in Phoenix. Here is how it fairs on each of the criteria:
The Services index in Phoenix is 96.
The Groceries index in Phoenix is 99.
The Health index in Phoenix is 88.
The Housing index in Phoenix is 97.
The Transportation index in Phoenix is 107.
The Utilities index in Phoenix is 107.
| Living Expense | Phoenix | Arizona | National Average | |
|---|---|---|---|---|
| Overall | 96 | 107 | 100 | |
| Services | 96 | 102 | 100 | |
| Groceries | 99 | 101 | 100 | |
| Health | 88 | 94 | 100 | |
| Housing | 97 | 121 | 100 | |
| Transportation | 107 | 105 | 100 | |
| Utilities | 107 | 97 | 100 | |
Phoenix, AZ Housing Cost Breakdown
Housing swings affordability the most between places in Arizona, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Phoenix is $277,700.
The Median Rent in Phoenix is $1,175.
The Median Income in Phoenix is $64,927.
The Home Value To Income in Phoenix is 4.3x.
The Rent To Monthly Income in Phoenix is 0.22x.
| Statistic | Phoenix | Arizona | United States |
|---|---|---|---|
| Median Home Value | $277,700 | $265,600 | $244,900 |
| Median Rent | $1,175 | $1,172 | $1,163 |
| Median Income | $64,927 | $65,913 | $69,021 |
| Home Value To Income | 4.3x | 4.0x | 3.5x |
| Rent To Monthly Income | 0.22x | 0.21x | 0.2x |
Median Home Value
Median Rent
Median Income
Phoenix, AZ Costs By Category
Detailed Phoenix Services Costs Vs. Arizona
Detailed Phoenix Groceries Costs Vs. Arizona
Detailed Phoenix Health Costs Vs. Arizona
Detailed Phoenix Transportation Costs Vs. Arizona
Detailed Phoenix Utilities Costs Vs. Arizona
Phoenix SnackAbility
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Cost Of Living In Cities Around Phoenix
The cost of living varies in the cities and towns around Phoenix. Here's a quick look at the cost of living in the most populous nearby places:
Glendale, AZ has a cost of living index of 97, 1.0x Phoenix.
Scottsdale, AZ has a cost of living index of 128, 1.3x Phoenix.
Peoria, AZ has a cost of living index of 101, 1.1x Phoenix.
| City | Population | Cost Of Living | Vs. Phoenix |
|---|---|---|---|
| Glendale, AZ | 245,685 | 97 | 1.0x |
| Scottsdale, AZ | 238,685 | 128 | 1.3x |
| Peoria, AZ | 187,733 | 101 | 1.1x |
| Tempe, AZ | 178,862 | 105 | 1.1x |
| El Mirage, AZ | 35,410 | 92 | 1.0x |
| Paradise Valley, AZ | 12,666 | 238 | 2.5x |
| Tolleson, AZ | 7,180 | 96 | 1.0x |
| Litchfield Park, AZ | 6,656 | 114 | 1.2x |
| Guadalupe, AZ | 5,334 | 87 | 0.9x |
