Comparison Highlights
| Cost of Living Indexes | Phoenix, AZ | Minneapolis, MN |
|---|---|---|
| Overall Index: Homeowner, No Child care, Taxes Not Considered | 108.7 | 105 |
| Food & Groceries | 97.3 | 101.2 |
| Housing (Homeowner) | 103.5 | 117.1 |
| Median Home Cost | $346,100 | $330,700 |
Is Arizona or Minnesota more expensive?
The cost of living in Phoenix, AZ is -8.7% lower than in Minneapolis, MN. You would have to earn a salary of $54,802 to maintain your current standard of living. Employers in Phoenix, AZ typically pay -7.3% less than employers in Minneapolis, MN.
How much does it cost to move from Minnesota to Arizona?
What is the average moving cost from Minneapolis, MN to Phoenix, AZ? Based on 14 reviews of people moving on the Minneapolis – Phoenix route, we estimate that a move like that could cost around $3182 to $9090.
Is the cost of living cheaper in Arizona?
An amount below 100 means Arizona is cheaper than the US average. A cost of living index above 100 means Arizona, Arizona is more expensive.
Arizona cost of living is 102.2.
| COST OF LIVING | Arizona | United States |
|---|---|---|
| Overall | 102.2 | 100 |
| Grocery | 96.1 | 100 |
| Health | 95.2 | 100 |
| Housing | 107.8 | 100 |
How much money do you need to live comfortably in Arizona?
To live comfortably in Arizona, a renter should earn at least $4,764 before taxes each month. This translates to an annual pre-tax salary of $57,168. You can use our rent calculator to help you determine how much you can afford to spend on rent each month.
Which city in Arizona has the lowest cost of living?
Last but not least, New Kingman-Butler is the cheapest place to live in Arizona with an average home price of just $71,200. Although this small town only has about 13,000 residents, it borders Kingman, which has a larger population and more amenities.
How much money do you need to buy a house in Arizona?
Recommended Minimum Savings
| Minimum Down Payment | $8,750 |
|---|---|
| Closing Costs | $8,494 |
| Estimated Cash Needed to Close | $17,244 |
| Recommended Cash Reserve | $4,467 |
| Total Recommended Savings | $21,711 |
Does Arizona have state income tax?
The Arizona income tax rates range from 2.59% to 4.50%, with higher brackets paying higher income tax rates.
What is a good hourly wage in Arizona?
Hourly Rate Salary in Arizona
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $58,071 | $28 |
| 75th Percentile | $45,063 | $22 |
| Average | $38,051 | $18 |
| 25th Percentile | $26,945 | $13 |
What jobs are in demand in Arizona?
IN-DEMAND OCCUPATIONS
- Industry.
- Construction.
- Manufacturing.
- Health care and social assistance.
- Administrative and waste services.
- Professional and technical services.
- Mining, quarrying, and oil and gas extraction.
- Wholesale trade.
What is the average monthly cost of living in Arizona?
Summary about cost of living in Phoenix, AZ, United States: Family of four estimated monthly costs are 3,536$ without rent. A single person estimated monthly costs are 1,010$ without rent. Phoenix is 26.91% less expensive than New York (without rent).
Why are people leaving Arizona?
Unbearable heat: Arizona in the summer might as well be the surface of the sun. One of the biggest reasons people leave The Grand Canyon State is because they just can’t take the heat. Believe it or not, the desert is hot.
Where should I not live in Arizona?
The 20 Worst Places to Live in Arizona
- Coolidge.
- Snowflake.
- South Tucson.
- Avra Valley.
- Kingman.
- Tucson. Arizona’s second-largest city advertises itself as “America’s biggest small town”.
- Holbrook. Last year, 86 burglaries were reported in Holbrook.
- Phoenix. Phoenix is huge.
What is the safest place in Arizona to live?
Florence is the number one safest city in Arizona for the third consecutive year. 90% of the cities made our list for the second year in a row, with Buckeye making its debut in the top 10 this year. 5 cities improved in rank this year: Buckeye, Maricopa, Prescott Valley, Sahuarita, and San Luis.
What credit score do you need to buy a house in Arizona?
640
Arizona First-Time Homebuyer Programs
For both products, homebuyers apply through a network of state-approved lenders. Borrowers must meet income and credit score requirements (minimum score of 640) and complete a homebuyer education course to qualify.
What is the average mortgage payment in Arizona?
$1,457
Additionally, mortgage interest rates vary by state. Data from the 2019 American Community Survey shows that homeowners paid a median amount of $1,609 per month.
Mortgage payments by state.
| State | Median monthly home payment |
|---|---|
| Arizona | $1,457 |
| Arkansas | $1,094 |
| California | $2,421 |
| Colorado | $1,845 |
What is the typical down payment on a house in Arizona?
If you’re buying a house in Arizona, expect to put down about 1% of the purchase price at this point, which will later be applied as part of your down payment. On a $400,000 home, you’d need $4,000 to meet this 1% requirement.
Are groceries taxed in Arizona?
Food items sold by a qualified retailer and intended for home consumption are exempt by law from the Arizona transaction privilege tax. Food sold and intended for on- premises consumption, such as restaurant sales, remains fully taxable.
How long do you have to live in AZ to be a resident?
To Become An Arizona Resident:
Live in Arizona for at least six months.
Are Arizona property taxes high?
Overview of Arizona Taxes
The state of Arizona has relatively low property tax rates, thanks in part to a law that caps the total tax rate on owner-occupied homes. The average effective tax rate in the state is 0.62%, which is well below the 1.07% national average.
Is Arizona a good place to live?
Is Arizona a good place to live? Arizona is one of the best places to start a new life. Most of the cities in the state are habitable when you consider human factors such as cost of living, job opportunities, and quality of health and education. Moreover, the state has an extensive transport network.
