Cost of Living in Phoenix, AZ
2024 data from the Bureau of Economic Analysis
Cost Index
103.3
3.3% above avg
Housing Index
121.2
Median Income
$79,935
Median Rent
$1,432/mo
Cost Breakdown
Overall103.3 (+3.3%)
Housing121.2 (+21.2%)
Goods95.0 (-5.0%)
Utilities93.3 (-6.7%)
Other Services104.0 (+4.0%)
National average = 100
Income & Housing
Median Household Income
$79,935/year
Median Home Value
$360,600
Median Monthly Rent
$1,432/mo
Per Capita Income
$40,787/year
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Frequently Asked Questions
Is Phoenix, AZ expensive to live in?
Phoenix, AZ has a cost of living index of 103.3, which is 3.3% above the national average.
How much does housing cost in Phoenix, AZ?
Housing costs in Phoenix, AZ are indexed at 121.2 compared to the national average of 100. The median monthly rent is $1,432.
What is the average income in Phoenix, AZ?
The median household income in Phoenix, AZ is $79,935 per year.
What is the average home price in Phoenix, AZ?
The median home value in Phoenix, AZ is $360,600.