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What Are The Costs of Living in Phoenix, AZ?

Phoenix, AZ is a city known for its vibrant culture, stunning landscapes, and booming job market. However, before making the move to the Valley of the Sun, it’s crucial to understand the costs associated with living in Phoenix. The first question that might come to you is – is Phoenix expensive and what is the cost of living in Phoenix?

On average, a family of four can expect to pay $4,335 without a rent, on a monthly basis, whereas a single person would pay $1,237 for the same. In order to give you a better insight, our comprehensive guide will break down all the positive thing you get in case you decide to move to Phoenix.

Why Should You Be Living in Phoenix?

Phoenix is situated in Maricopa County and it offers an enticing blend of advantages that make it an attractive place to call home. With over 300 days of sunshine annually, a thriving job market, and a diverse community, there are plenty of reasons why you should consider living in this desert metropolis. Without writing a bunch of paragraphs explaining and convincing, here is the list that summaries why you should move to Phoenix, AZ:

  • Climate – Phoenix is known for its warm and sunny weather, with more than 300 days of sunshine annually. If you enjoy a dry, desert climate with hot summers and mild winters, Phoenix might be an appealing place to live
  • Outdoor Activities – The Phoenix area offers numerous opportunities for outdoor enthusiasts. You can explore the nearby Sonoran Desert, hike in the picturesque mountains, and enjoy a variety of outdoor recreational activities year-round
  • Economic Opportunities – Phoenix is one of the fastest-growing cities in the United States, which has led to a strong job market and economic growth. It’s a hub for various industries, including technology, healthcare, and manufacturing
  • Cultural Diversity – Phoenix is a diverse and multicultural city, with a rich blend of cultures, traditions, and cuisines. This diversity contributes to a vibrant and inclusive community
  • Sports and Entertainment – Phoenix has a thriving sports scene, with professional teams in baseball (Diamondbacks), basketball (Suns), and football (Cardinals). The city also offers a variety of entertainment options, including theaters, concerts, and cultural events
  • Family-Friendly – Phoenix has a reputation for being a family-friendly city with good schools, parks, and recreational facilities for children and families
  • Low Natural Disasters – Unlike some other parts of the country, Phoenix is not prone to natural disasters such as hurricanes, tornadoes, or earthquakes, making it a relatively safe place to live.

Does Phoenix Have Good Public Schools?

Education is a top priority for many families. Discover whether Phoenix’s public school system meets your expectations, and learn about the quality of education, available resources, and options for your children. Some of the best schools are:

How Much Does it Cost To Buy Real Estate in Phoenix?

For those looking to put down roots in Phoenix, understanding the real estate market is crucial. As of December 2023, you can expect to pay up to $514k for a home, with $400k as am average price. The average price for square foot is $304. In the city centre, you can expect to pay $5,860 for a square foot (apartment) and $4,370 outside the city centre.

When looking at the previous years, the trend is uprising, roughly around 14% annually. While it may look high, the prices are justified as Phoenix is truly one of the best areas/cities to live, especially with a family. Therefore, it is worth considering to move to Phoenix and start a great adventure with your family!

What are the Best 5 Neighborhoods in Phoenix to Live in?

  • Downtown
  • Desert View
  • Amber Hills
  • Dynamite Mountain Ranch
  • Central City.

What Is The Average Monthly Cost of Living in Phoenix for a Family?

Raising a family in Phoenix is an attractive prospect, but it comes with its own set of financial considerations. As we said in the beginning, an average monthly cost of living in Phoenix for a family is $4,335 without a rent on a monthly basis.  An average rent cost for 3 bedroom estate within the city centre would cost you around $3,150 whereas the same estate outside of the city centre would be around $2,730. Also, Phoenix has a great transportation system and a monthly transportation pass would cost around $64.

Top 5 Things to See in Phoenix, AZ

Phoenix has a lot to offer in terms of entertainment and leisure. We picked top 5 things to see and try on Phoenix:

Conclusion

So, is Phoenix expensive to live in? Depends on where you live now and what your monthly income is. When looking for the statistical point – Phoenix cost of living index is 101.7. that is slightly above the national average. But – as you consider making Phoenix your new home, this guide will provide you with valuable insights into the costs and lifestyle associated with living in this dynamic desert city. In addition, if you need moving help in Phoenix, don’t hesitate to contact us.

Whether you’re a single professional, a family, or someone looking for a fresh start, understanding the cost of living in Phoenix is the first step to making an informed decision. Below is a quick list of Phoenix living costs per month:

  • Utilities cost Phoenix – $204
  • Apartment rent – $1,558 (806 square ft)
  • Estate rent – $4,335 (3-bedroom)
  • Public transportation – $64
  • Food cost (families) – $4,000.

If you need any moving help or assistance for moving to Phoenix, you can check our list of moving services and book your move in advance.

FAQs

We tried to answer some of the most frequently asked questions about Phoenix and cost of living in this city

Is Phoenix a Good Place to Live With a Family?

Yes, it is a good place to live with your family due to many pros.

What is the Median Income in Phoenix, AZ?

The median income in Phoenix,AZ is around $31,821.

What is the Elevation of Phoenix, AZ?

The elevation of Phoenix, AZ is 1,086 feet (331m).

What is the Property Tax Rate in Phoenix, AZ?

The property tax rate in Phoenix, AZ is 5% to 11%, with the tax levy of 1.29.

How Much Does it Cost to Live in Phoenix, Arizona?

With all the combined expenses, you can expect to pay around $5,000 – $6,000 for a family per month for a pleasant and normal life experience.