Cost of Living in Tempe, AZ

Housing

The housing market plays a significant role in determining the cost of living in Tempe, AZ.

• Housing Index: 115.5 / 100
• Median Home Price is: $405000
• Average Rent (2 BR Apartment): $1800 per month
• Average Rent (2 BR House): $1870 per month

Based on the data for Tempe, AZ, the housing index of 115.5 indicates a moderately elevated cost of living compared to the national average. Additionally, with a median home price of 405000, purchasing a home here may be pricey for some. It’s worth noting that the average rent for a 2-bedroom apartment is 1800 and a 2-bedroom house is slightly higher at 1870. If you're considering moving, evaluate your budget against these figures, and remember that housing demand can fluctuate with local job markets and amenities, impacting prices further.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Tempe, 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 Tempe, 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 110.2

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $72022

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Tempe, AZ, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.