Housing costs in Phoenix?
A typical home costs
$316,300, which is 6.4% less expensive than the national average of
$338,100 and 22.4% less expensive than the average Arizona home, at
$407,400. Renting a two-bedroom unit in Phoenix costs
$1,530 per month, which is 1.3% cheaper than the national average of
$1,550 and 13.7% cheaper than the state average of
$1,740.
Can I afford Phoenix?
To live comfortably in Phoenix (zip 85031), Arizona, a minimum annual income of
$60,480 for a family, and
$51,600 for a single person is recommended.
What does A.I. say about Phoenix?
The cost of living in 85031 Phoenix, AZ is quite affordable, especially when compared to other parts of the United States. According to BestPlaces, the cost of living index for 85031 Phoenix is rated at 86.2 where 100 is the United States average, which indicates that it is more affordable than many other places. Housing prices in particular are quite low, with median home values hovering around $201,600 and monthly rent averaging around $1,000 for a one-bedroom apartment. Other living expenses such as food prices and healthcare costs are also below average. All in all, 85031 Phoenix offers a very reasonable living cost that can be ideal for those looking for an affordable place to call home.