Yahoo Finance See Why These Arizona Cities Have the Highest and Lowest Cost of Living So Far in 2024
According to a recent article in USA Today, Arizona is the third most affordable state to live in the United States. Another study, however, found that the cost of living in the Grand Canyon State is 6% higher than the national average. The disparity between these two findings may be related to the fact that affordability depends drastically on the city in which you live.
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Throughout Arizona, there are wealthy neighborhoods with soaring housing prices and growing populations. There are also sections of the state that are extremely cost-effective, particularly compared with neighboring states like California. So before you pack your bags for near-year-round sunshine, see why these Arizona cities have the highest and lowest cost of living so far in 2024.
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Flagstaff, Arizona
It should come as no surprise that Flagstaff has the highest cost of living in the state. With a population of over 76,000, the city offers the perfect mix of small-town charm and suburban amenities. At an elevation of 7,000 feet, the city has more temperate weather compared with some of its lower-level neighbors.
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Cost of Living
Our research indicates that the cost of living in the city is 16% higher than the national average. One of the largest contributing factors to this is the exorbitant housing prices in the area. Housing is approximately 71% more than the average in the U.S. Zillow reports that the average Flagstaff home value is $663,347, up 7.5% since the previous year. Homes sell quickly, too, with it taking only around 12 days for a house to be pending.
Another factor affecting the excessive cost of living in Flagstaff is the high prices of groceries, health and transportation. In general, a person can expect to pay around $5,720 for groceries, $6,704 for health costs and $5,452 for transportation expenses each year. Add in housing costs, utilities and other miscellaneous expenses, and you’ll need more than $48,000 to cover all of your expenses if you reside in Flagstaff.
Nogales, Arizona
At the other end of the cost of living spectrum is Nogales. With a population of under 20,000, the city is quaint compared with its pricier counterpart. Located on the state’s southern border, Nogales combines Mexican culture with picturesque natural beauty.
Cost of Living
The cost of living in Nogales is around 18% less than the national average, making it the most affordable city in the state. Just as housing prices are one of the primary reasons Flagstaff is at the top of the range, they are what make this city so reasonably priced. Zillow reports that the average home value in Nogales is $215,592. While that is up 5.9% from one year ago, it is still considerably lower than the average in the U.S.
Other factors affecting affordability are lower-cost groceries, healthcare and transportation. In fact, prices in Nogales did not exceed the national average in any of the categories researched. It takes approximately $28,224 to pay all necessary expenses each year in the city. This includes housing costs, which will run around only $631 per month, and groceries, which cost about $445 per month.
What To Know Before You Go
Whether you plan to call Arizona home during retirement or are going to tour Northern Arizona University with your high school senior, you will want to know just how expensive it is to live under the potentially harsh sun. As you can see, some areas are quite pricey, far exceeding the average cost of living in the U.S., while others are considerably more reasonable.
The state’s population continues to grow, outpacing the U.S. and setting the stage for a prosperous future. Individuals hoping to move to the state for work will see increased job opportunities and new companies relocating to more tax-friendly areas. It is important, however, to do your research and know what city most fits your budget, your goals and your lifestyle before you decide to call it home.
Methodology: For this study, GOBankingRates analyzed 6,300 cities across the United States to find the cheapest and most expensive cost of living cities in each state. First GOBankingRates found the cost of living indexes as sourced from Sperlings BestPlaces and using the national average expenditure costs for all residents, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure cost can be calculated for each city. The total population was sourced from the U.S. Census American Community Survey, and the livability index was sourced from AreaVibes. All data was collected on and is up to date as of May 21, 2024.
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This article originally appeared on GOBankingRates.com: See Why These Arizona Cities Have the Highest and Lowest Cost of Living So Far in 2024
