Cost of Living in Prescott, AZ
Housing
The housing market plays a significant role in determining the cost of living in Prescott, AZ.
- Housing Index: 110.0 / 100
- Median Home Price is: $531000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1840 per month
When considering a move to Prescott, AZ, the housing landscape reveals a housing index of 110.0, which indicates higher costs compared to average national figures. The median home price is pegged at 531000, suggesting a competitive market for buyers. Furthermore, the average rent for a 2-bedroom apartment stands at 1800, while renting a 2-bedroom house is slightly higher at 1840. This affordability level reflects the desirability of the area, making it crucial to weigh your options carefully, particularly if budget constraints are a primary concern.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Prescott, 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 Prescott, 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 Prescott is a financially viable option for your relocation.