Housing costs in Phoenix?
A typical home costs
$308,100, which is 8.9% less expensive than the national average of
$338,100 and 24.4% less expensive than the average Arizona home, at
$407,400. Renting a two-bedroom unit in Phoenix costs
$1,410 per month, which is 9.0% cheaper than the national average of
$1,550 and 23.4% cheaper than the state average of
$1,740.
Can I afford Phoenix?
To live comfortably in Phoenix (zip 85040), Arizona, a minimum annual income of
$59,040 for a family, and
$47,600 for a single person is recommended.
What does A.I. say about Phoenix?
The cost of living in 85040 Phoenix, AZ is relatively average compared to the rest of the United States. The area's overall cost of living index score is 95.2, which is just slightly higher than the national average of 100 points. Housing prices are slightly above average-the median home value in Phoenix is $221,700, which is around 10% more expensive than the national median home value. Groceries and utilities are on par with the U.S. average, but transportation costs such as gas and car insurance are slightly lower than the U.S. averages. Overall, 85040 Phoenix residents can expect a fairly moderate cost of living in comparison to other parts of the country.