Average Electric Bill Glendale Az for Family of 5

If you beloved hot, sunny weather and natural beauty, you'll dearest Arizona. The K Coulee State has a various population and plenty of natural attractions. When it comes to taxes, the state'south sales taxation is loftier, simply property and income taxes are below average. The overall cost of living in Arizona is relatively low compared to the residuum of the United States.

Housing Costs in Arizona

Deciding whether to renting or buy is an inherently difficult decision. In Arizona'southward most populous cities, though, the bulk of residents are homeowners. NeighborhoodScout information shows that Scottsdale, Mesa and Chandler all accept homeownership rates around sixty% and higher. This statewide trend is further visible in Sedona, where 73.iii% of residents are homeowners.

Despite the seemingly strong demand for homes in Arizona, median domicile values aren't overly exorbitant. In Phoenix, the land's largest metropolis, the median home value is $230,493, according to NeighborhoodScout. In Flagstaff and Scottsdale, though, these values leap to $376,887 and $560,871.

The proficient news is that Arizona rent is affordable. For case, 53% of Tucson residents are renters, and the median rent for a two bedroom apartment there is only $936, co-ordinate to Apartment List. That places the city $239 below the median national hire for two bedrooms, which is $i,175.

Flat Listing data indicates the national median for studio apartments is $827. Some cities in Arizona come in to a higher place that marking. Gilbert and Peoria have $952 and $938 median studio rents, respectively.

Utilities

Arizona residents pay higher-than-average electricity bills. Co-ordinate to the U.S. Energy Information Administration (EIA), the average monthly electricity beak in Arizona is $128.40. That places Arizona sixth in the nation, and its substantially higher than the national average of $111.67.

The constant heat in Arizona is a major culprit for these inflated electricity bills. Statistics from USClimateData.com shows that Arizona has an boilerplate annual high temperature of 86.vii degrees, making air conditioning a necessity.

Nutrient

According to the Agency of Labor Statistics (BLS), Phoenix area residents spend an average of 11% of their almanac income on food, compared to the U.South. average of 12.vi%. Furthermore, the BLS found that "Phoenix area households spent $3,938, or 57.4%, of their food dollars on nutrient at home and $2,918 (42.half-dozen percent) on food away from home." As a comparison, the national averages for these statistics are 56.3% for food at dwelling and 43.vii% for food away from home.

When it comes to specific food items, Arizona's prices are generally cheaper than the U.South. average. Based on May 2019 information from Numbeo.com, a gallon of milk in Phoenix goes for $two.06 compared to the $3.10 national average. The aforementioned applies to a dozen eggs in Chandler, which costs $ii.10, whereas the national average is $two.26.

Transportation

May 2019 Data from GasBuddy places Arizona every bit the seventh-worst land in terms of gas prices. Its $three.xv average is well above the national mark of $ii.92.

If you're not big on driving, in that location are public transportation options in Arizona. A 31-mean solar day laissez passer on Phoenix's Valley Metro will cost you $64. A 30-day pass on Tucson's SunGO costs $48, and a 31-mean solar day pass on Glendale'southward Beeline bus goes for $36. Of course, you'll need to make sure that you lot can get betwixt abode and work on public transportation if you determine to go car-free.

Taxes

Income tax rates in Arizona range from ii.59% to 4.54%, depending on your bracket. Basically, the more money you make, the more than you pay in taxes. Note that these rates are on the low side for state income taxes in the U.S.

Sales tax in the M Canyon Country is high, though. At a city level, rates range from 7.6% to 11.2%. The base of operations state sales tax rate is 5.half dozen%, simply counties and cities add their own rates on summit of that. Altogether, Arizona's sales taxes average 8.33%, which is good for 11th highest in the nation.

On a positive note, Arizona has an boilerplate constructive belongings taxation rate of merely 0.77%, lower than the national average. It also has the fifth-lowest gas taxes in the nation, at nineteen cents per gallon of regular gasoline and 27 cents per gallon of diesel.

Healthcare

Co-ordinate to 2016 data from the Health Care Price Institute, healthcare prices in the Phoenix metro area are 3% below the national median, while the Tucson metro surface area is much lower at a 14% difference. Additionally, Tucson and Phoenix metro area healthcare prices have risen twenty% and 15%, respectively, since 2012.

This trend shifts if you wait into total employee contributions for single healthcare coverage. In fact, a 2017 report from the Bureau for Healthcare Enquiry and Quality shows Arizonans pay $one,523 per enrolled employee at private companies. This is $108 higher than the national average.

Miscellaneous Cost of Living Facts

Desire to visit the Grand Canyon while you're in the Grand Canyon State? A G Canyon National Park vehicle allow will cost yous $35. Don't want to bring your car? An private let is $20 if you're "entering by foot, bicycle, park shuttle bus, Grand Canyon Railway and individual rafting trip." If you're with someone 15 or younger that person can go far free. Admission is complimentary to all visitors on certain national holidays, like Veterans Day (11/eleven) and the National Park Service Ceremony (8/25).

Grand Canyon non your thing? Cheque out some spring training baseball games in Arizona'south Cactus League. Half of the land's Major League Baseball game teams train in Arizona, beyond 10 stadiums.

Next Steps If You're Making the Move to Arizona

• If you're moving to Arizona, it might assist to revamp your budget. If you want help with how this move volition bear upon your finances, a financial advisor could be a useful partner. Finding the right financial advisor that fits your needs doesn't have to be hard. SmartAsset's free tool matches you with financial advisors in your area in v minutes. If you lot're ready to exist matched with local advisors that volition help you lot achieve your financial goals, get started now. To bank check out some of the top financial counselor firms in Arizona, meet our lists for Phoenix, Scottsdale and Tucson.
• Picking upwards and moving to another state is a big fiscal decision. If you desire your money to have a new home every bit well, hither are a few banking options: Western Alliance Banking company, Kickoff Internet Bank of Indiana, Bankers Trust Visitor, KS StateBank and First Savings Bank.

Photo credit: © iStock.com/pilgrims49, © iStock.com/benedek

Amelia Josephson Amelia Josephson is a writer passionate about covering financial literacy topics. Her areas of expertise include retirement and habitation buying. Amelia's piece of work has appeared beyond the web, including on AOL, CBS News and The Simple Dollar. She holds degrees from Columbia and Oxford. Originally from Alaska, Amelia now calls Brooklyn home.

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Source: https://smartasset.com/mortgage/the-cost-of-living-in-arizona

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