Cost of Living in Arizona – Arizona is a state in the southwestern region of the United States. It’s bordered by Mexico to the south, California, Nevada, and Utah to the west, New Mexico to the east, and Colorado to the northeast. With an estimated population of 7 million people in 2016, Arizona is one of four U.S. states that have not yet achieved statehood for whatever reason.
This includes Alaska, Hawaii, and Vermont which are still part of the Union but are not states. The cost of living in Arizona can vary greatly depending on where you live in this beautiful state.
Let’s get started –
The Cost of Living in Arizona
Arizona has historically been known for its low cost of living, but in recent years the economy and housing market in Arizona has changed. This article takes a look at how much money someone can expect to earn here compared with other parts of the country.
The cost of living in Arizona varies throughout the state, so it’s important to consider more than just Phoenix prices when deciding where you want to live. The following is a look at average monthly rental rates and average home sales prices across some of Arizona’s larger cities and regions:
- – Scottsdale: $1,377 per month on rent; $ 260,000 for an 1,800 sqft house
- – Phoenix: $968 per month on rent; $ 110,000 for a 1,200 sqft house
- – Tuscon: $828 per month on rent; $120,000 for a 1,100 sqft house Here’s how Arizona compares to other U.S. states and cities in terms of cost of living:
The cost of living in Arizona is on the rise. The average monthly rent for a 600 square foot apartment in [Arizona city] [Arizona city], AZ was $1,705 with an estimated increase of 3%. The median price for a new car is valued at around $25,000 USD while used cars are going for about half that amount. The average grocery bill comes to about $300 per month and most people spend around $200 dollars per month on their utility bills.
The average minimum wage worker makes about $12 per hour which equals out to be a yearly salary of around $25,200 per year. The federal minimum hourly pay is set at around $7.55 per hour which calculates out to be a yearly income of around 17,680 per year. The cost of living in Arizona is higher than the national average by about 14%.
The median income in Arizona was $45,000 for 2016. The average cost of renting a one-bedroom apartment in Phoenix during one month is $769 and the average cost for food for a family of four is about $1,800.
The median rent price here includes utilities while some utilities might be extra on top of this price. The weather in Arizona can also affect the way some people live their lives.
The warm weather often means that people will want to spend time outdoors which can lead to more spending on things like clothing or having a car to get from place to place.
The different income levels in Arizona will also affect the average cost of living for both people who make higher incomes and lower incomes. The middle class is often said to be disappearing, but it still has a strong presence in Arizona.
People living on a fixed income may have more trouble staying within their budget each month. The prices of food and utilities increase over time while their fixed incomes do not change at all.
Housing Costs in Arizona
Housing costs in Arizona, especially on the outskirts of metropolitan areas, are on par with some of the highest housing prices in the country. Housing affordability is a major concern for many Arizonans and people considering moving to Arizona. Housing costs can vary widely depending on location; while there are some very affordable options around the state, some places have astronomically high housing costs.
The Cost of Living in Arizona also includes Housing Cost. Thus Housing has become a major source of stress for Americans, especially in large cities. Housing costs have continued to rise throughout the past few decades due to growing demand and lack of supply.
With this demand, many people are being priced out of the home buying market because wages have not risen fast enough to keep up with housing prices. Housing affordability is an important issue that needs attention from both state and federal governments as well as local municipalities.
Housing costs affect nearly everyone at some point in their life, whether it is when they rent, buy or sell a home. There are several different types of housing including renting, owning and purchasing land to build upon. Housing options differ by location but there are general rules about how much money one should expect to spend on housing. Housing costs are affected by geography, technology and culture.
Housing prices can vary based on factors like the size of the home, amenities available, geographic location, and proximity to employment opportunities. Housing costs will continue to increase as demand outweighs supply but also fluctuate due to cultural shifts that alter how much people are willing to pay for housing.
Healthcare Costs in Arizona
While the price of living in Arizona is relatively affordable however, the cost of healthcare in Arizona is higher than the national mean. Arizonans are the fourth-highest in cost of healthcare in the nation with $8,060 per year..
But, the cost of your medical visit will vary based your location. A medical visit cost $99 for a visit to a doctor for Phoenix while it costs $121.57 in Tucson in Tucson, which is an increase of 10. The cost is even higher to visit the doctor in Flagstaff in Flagstaff, which has an average of 24% higher cost of healthcare in comparison to Phoenix.
Arizona is ranked 42 of all states for accessibility to healthcare and accessibility and affordability. Healthcare costs are large proportions in the cost of living in Arizona. The capacity to pay for healthcare in Arizona and the accessibility to healthcare are crucial indicators of the amount you’ll be spending on this vital resource should you decide to move to a different state.
The measure of affordability is usually the cost of insurance coverage in a particular state and the cost of out-of-pocket that has to be borne by you in order to receive the treatment. If costs or out-of-pocket expenses are excessive and you are in a high-cost area, your expenses for living will rise.
Access to healthcare measures the ease or difficulty it is to access the services. Access is assessed by identifying the obstacles that may hinder the delivery of healthcare for example, lack of insurance coverage, the need to travel for long distances healthcare centers, and the lack of adequate facilities or healthcare specialists. The speed of treatment, the speed at which you can see the doctor is another crucial factor to consider.
Taxes and Fees in Arizona
Arizona is a wonderful place for retirees since there is no estate tax. Taxes on income are affordable and range from 2.59 percent to 4.50 percent dependent on the level of your income tax. To lower your tax burden You can also claim tax deductions on dependent kids, charity contributions as well as the cost of installing solar panels on your property- Cost of Living in Arizona
Arizona has a property tax cap that limits the rate for homes owned by the owner and this makes them more cost-effective as well. You’ll only pay 0.62 percent from the appraised value of your house each year This is 0.45 percent less than the national average.
The only tax at the higher end of the spectrum is the sales tax. In some counties, it’s as high as 11.2%.
Tax rates on income in Arizona vary between 2.59 percent to 4.54%, based on your tax bracket. In essence, the more you earn, the higher you’ll pay in taxes. It is important to note that these tax rates are not the highest for income tax rates within the U.S.
The sales tax rate in Grand Canyon State is high but. On a city-level rates can range between 7.6 percentage up to 11.2%. The basic state sales tax rate is 5.6 percent, and cities and counties include their own rates to the state’s. In total, Arizona’s sales tax rates average 8.33 percent which ranks 11th in the United States.
A positive side note is that Arizona has an real home tax rate of 0.77 percent, which is lower than the average for the nation. Arizona also has the fifth lowest taxes on gasoline in the United States with 19 cents per gallon for regular gasoline, and 27 cents per tank of diesel.
Transportation Costs in Arizona
Transport is another important cost to be considered when you are moving to Arizona.
According to the data of the Living Wage Calculator at MIT according to MIT’s Living Wage Calculator, the average Arizona resident pays $4,900 per year on transportation expenses. For an average family of four members, including the addition of two kids and adults working transport costs can increase to $13,317 per year.
Arizona does not have public transportation on a state level. The public transportation system is run by individual agencies throughout the state.
This is why Arizona follows the standard system of public transport that is, the downtown and inner-city areas are well-served, while the rest of the areas rely on personal vehicles for transportation.
If you decide to move to the Arizona metropolitan area, you could save money on transportation by ditching your vehicle and relying on buses and public transit to transport where you want to get to.
Valley Metro charges just $64 for a 30-day Metro pass within the Phoenix metro zone that’s equivalent to $768 annually or savings of more than $4,100 per year.
Many buses are equipped with bike racks. This means that you can join the force of the bus with your own legs to move around in Arizona.
Hope this article is helpful to you in finding the estimated costs of living in Arizona.