Cost of Living in Phoenix, AZ
Housing
The housing market plays a significant role in determining the cost of living in Phoenix, AZ.
- Housing Index: 115.0 / 100
- Median Home Price is: $358,200
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1840 per month
Considering moving to Phoenix, AZ? With a housing index of 115.0, the cost of living here is slightly above the national average. The median home price of 358200 offers a reasonably accessible market for buyers, while rental prices for a 2-bedroom apartment at 1800 and a 2-bedroom house at 1840 are competitive for urban settings. However, it’s important to weigh these costs against the local job market, amenities, and lifestyle offered in the area—factors that significantly affect long-term satisfaction.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Phoenix, AZ.
- Electricity Price: $15.14 USD (median by state)
- Natural Gas Price: $23.51 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Phoenix, AZ could entail higher utility costs. Electricity costs sit at $15.14, while natural gas is priced at $23.51 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Phoenix is a financially viable option for your relocation.