Cost of Living in Phoenix, AZ
Phoenix has a cost of living index of 103 (100 = national average), making it close to the national average. The median household income is $60,931 and the median home price is $420,000.
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Phoenix at a Glance
Population
1,650,070
Cost of Living Index
103
Median Income
$60,931
Median Home Price
$420,000
Property Tax Rate
0.58%
Sales Tax Rate
8.60%
Rent Index
105
State
Arizona
Living in Phoenix
Phoenix has a cost of living slightly above the national average. While housing at $420,000 is a significant expense, the area offers a balance between cost and quality of life.
The combined sales tax rate in Phoenix is 8.60%, and the effective property tax rate is 0.58%. Property taxes are relatively low compared to the national average.