Prescott, AZ Cost Of Living
Cost Of Living In Prescott, AZ Summary
Cost of living in Prescott 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 Prescott 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 Prescott is 115, with 100 being the average.
The cost of living index in Prescott is 1.1x higher than the national average.
Prescott ranks as the #79 cheapest in Arizona out of 94.
Prescott ranks as the #4,492 cheapest out of 6,412 in the US.
The median home value in Prescott is $386,300.
The median income in Prescott is $61,090.
Table Of Contents
Prescott's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Prescott, AZ?
According to the most recent data on the cost of living, Prescott has an overall cost of living index of 115, which is 1.1x higher than the national index of 100.
Compared to Arizona, Prescott has a cost of living index that's 1.1x higher than Arizona's index of 107.
The standard of living in Prescott ranks as #79 most affordable out of the 94 places we measured in Arizona. By definition, that implies Prescott ranks as the #15 most expensive place in the Grand Canyon State.
For more reading on life in Prescott, check out:
- Living In Prescott
- Prescott Crime Report
- Search Homes For Sale In Prescott, AZ
In Arizona
In America
Prescott Cost Of Living Vs. Arizona
Six factors go into calculating the cost of living index in Prescott. Here is how it fairs on each of the criteria:
The Services index in Prescott is 108.
The Groceries index in Prescott is 99.
The Health index in Prescott is 98.
The Housing index in Prescott is 134.
The Transportation index in Prescott is 107.
The Utilities index in Prescott is 94.
| Living Expense | Prescott | Arizona | National Average | |
|---|---|---|---|---|
| Overall | 115 | 107 | 100 | |
| Services | 108 | 102 | 100 | |
| Groceries | 99 | 101 | 100 | |
| Health | 98 | 94 | 100 | |
| Housing | 134 | 121 | 100 | |
| Transportation | 107 | 105 | 100 | |
| Utilities | 94 | 97 | 100 | |
Prescott, 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 Prescott is $386,300.
The Median Rent in Prescott is $957.
The Median Income in Prescott is $61,090.
The Home Value To Income in Prescott is 6.3x.
The Rent To Monthly Income in Prescott is 0.19x.
| Statistic | Prescott | Arizona | United States |
|---|---|---|---|
| Median Home Value | $386,300 | $265,600 | $244,900 |
| Median Rent | $957 | $1,172 | $1,163 |
| Median Income | $61,090 | $65,913 | $69,021 |
| Home Value To Income | 6.3x | 4.0x | 3.5x |
| Rent To Monthly Income | 0.19x | 0.21x | 0.2x |
Median Home Value
Median Rent
Median Income
Prescott, AZ Costs By Category
Detailed Prescott Services Costs Vs. Arizona
Detailed Prescott Groceries Costs Vs. Arizona
Detailed Prescott Health Costs Vs. Arizona
Detailed Prescott Transportation Costs Vs. Arizona
Detailed Prescott Utilities Costs Vs. Arizona
Prescott SnackAbility
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Cost Of Living In Cities Around Prescott
The cost of living varies in the cities and towns around Prescott. Here's a quick look at the cost of living in the most populous nearby places:
Prescott Valley, AZ has a cost of living index of 100, 0.9x Prescott.
Chino Valley, AZ has a cost of living index of 101, 0.9x Prescott.
Cottonwood, AZ has a cost of living index of 98, 0.9x Prescott.
| City | Population | Cost Of Living | Vs. Prescott |
|---|---|---|---|
| Prescott Valley, AZ | 46,014 | 100 | 0.9x |
| Chino Valley, AZ | 12,854 | 101 | 0.9x |
| Cottonwood, AZ | 12,073 | 98 | 0.9x |
| Camp Verde, AZ | 11,942 | 99 | 0.9x |
| Sedona, AZ | 9,723 | 135 | 1.2x |
| Wickenburg, AZ | 7,359 | 97 | 0.8x |
| Village of Oak Creek (Big Park), AZ | 6,144 | 130 | 1.1x |
| Williamson, AZ | 5,651 | 128 | 1.1x |
