Quality of Life and Affordability in Arizona

Quality of Life and Affordability in Arizona

Discover the allure of Arizona through its abundance of sunny days and captivating attractions. With an average of 286 sunny days annually, far exceeding the national average of 205, Arizona promises a sun-soaked adventure. From exploring the trails of Saguaro National Park to indulging in the vibrant housing markets of cities like Phoenix and Tucson, there’s a lot to embrace. But before you dive into this sun-drenched wonderland, it’s crucial to understand the Arizona cost of living to ensure your budget aligns with your dreams.

Average Cost of Living in Arizona Arizona’s cost of living, while not the lowest, offers a balanced mix of expenses. According to MERIC’s 2022 Cost of Living Index, Arizona ranks 37th in the nation, making it slightly more affordable than the average. While neighboring New Mexico holds the 19th spot, Arizona’s cost of living remains manageable. Data from the Bureau of Economic Analysis reveals an average total personal consumption cost of $44,875 per year in the state.

Housing and Utilities

Check out a summary breakdown for cost:

Breaking Down the Costs Housing and Utilities take a significant share at $8,184, followed by Healthcare at $6,828, and Food and Beverages (non-restaurant) at $3,346. Gas and Energy Goods contribute $1,061, while All Other Personal Expenditures encompass the remaining $25,457. These figures offer a comprehensive view of what it takes to live comfortably in the Grand Canyon State.

Housing Costs in Arizona With over 3 million housing units, Arizona’s housing market caters to diverse needs. The average home value in February 2023 stood at $409,196, offering a range of options to suit various budgets.

Each month, the amount spent on housing will vary depending on if you rent or buy. Here’s what you can expect to spend, according to the latest census data.

•  Median four-bedroom rent: $1,688

•  Median five-bedroom (or more) rent: $2,169

•  Median gross rent: $1,253

•  Median monthly mortgage cost: $1,545•  Median two-bedroom rent: $1,251

•  Median three-bedroom rent: $1,478

•  Median studio rent: $973

•  Median one-bedroom rent: $1,047

Home values

Home values in major cities like Phoenix, Tucson, and Flagstaff range between $230,699 and $560,197, allowing you to choose a location that suits your lifestyle and finances.

Where you want to live in Arizona can play a big role in how much it costs to buy a home. Here are typical home values for some major Arizona cities, according to Zillow, as of January 2023.

Utility Costs in Arizona

Utility Costs in Arizona Even after homeownership, utility bills remain a consistent expense. Monthly average utility costs for electricity, gas, cable and internet, and water amount to around $408.

Groceries & Food Expenses

Groceries and food Expenses are another important consideration. With an average monthly cost of $279 per person, groceries and food take a significant portion of the budget. The cost can vary depending on where you live in Arizona.

Transportation

Transportation costs vary based on family structure. On average, one adult spends $5,316 annually, while two working adults without children spend $9,561. Families with two working adults and three children face an annual transportation cost of $15,073.

Health Care

Health Care & Child Care Healthcare costs average $6,828 per person annually, while child care costs range from $787 to $1,283 per child each month. (According to the 2021 Bureau of Economic Analysis Personal Consumption Expenditures by State report, the average annual per-capita cost of health care in Arizona)

Taxes & Miscellaneous Costs

Taxes & Miscellaneous Costs Arizona’s flat income tax of 2.5% from 2023 onwards keeps tax burdens comparatively low. Miscellaneous expenditures average around $25,457 annually, offering room for entertainment and enjoyment.

Exploring Arizona’s Attractions As you navigate the landscape of Arizona’s costs, remember that the state’s attractions, from Bearizona to Pink Jeep Tours, offer priceless experiences that contribute to a fulfilling life. While Arizona may not be the most affordable state, its diverse attractions and natural beauty are worth the investment.

In a state where sunny days and adventures abound, finding a balance between cost and quality of life is essential. Understanding the intricacies of Arizona’s cost of living empowers you to make informed decisions and embark on a journey that aligns with your aspirations and financial goals. Whether you choose Bullhead City, Surprise, or Yuma as your Arizona home, the state’s charm and attractions are waiting to be discovered and enjoyed.

City’s with the Lowest Cost of Living in Arizona?

To make it easier to obtain a comfortable lifestyle in Arizona, let’s get to know the three major Arizona cities with the lowest cost of living, according to the Council for Community and Economic Research’s Cost of Living Index for the second quarter of 2022.

Bullhead City

A cost-of-living ranking of 90.6 snagged Bullhead City the top spot on the council’s index for Arizona. Bullhead City is on the east bank of the Colorado River and spans 57.2 square miles, so you’ll have plenty of areas to explore if you move there.

Surprise

With nearly 150,000 residents and 52,205 households, according to the most recent census data, this Arizona city is sure to hold plenty of pleasant surprises for new residents. And a cost-of-living index of 98.4 is a good sign for your wallet.

Yuma

In Yuma, getting moving and enjoying the great outdoors is a piece of cake. Proximity to the Colorado River allows you to enjoy water activities; plus Yuma (cost-of-living index of 95.8) has tons of scenic trails you can hike on.