Arizona is based in southwestern U.S. state, which is popularly known for the Grand Canyon. One of the tourist attractions in the state includes Saguaro National Park, a cactus-filled protected area. Being a beautiful state, many think of living there. However, these people are undecided whether it is a good place to stay for good.
With the highly developed state, still, there are affordable places to live in Arizona that you must discover. If you are interested and want to live in the state, you must check the living status of the residents first.
Cost of living in Arizona
A lot of people say that living in Arizona is expensive. How true is it? With the amount of 100, it means Arizona is much cheaper than the US average. It is recorded that the cost of living in Arizona has the following:
- Health – 95.2 %
- Housing 107.8 %
- Utilities – 102.7 %
- Median Home Cost $249, 300
Is it cheaper to live here?
Speaking about the housing percentage, Florida gas is 43.40% older renters compared to Arizona with 52.90%. For the homeowners, they have voted Arizona as the more affordable option. Most of the retirees are living in the state with 73.10% homeowners are old aged. For the ultimate retirement showdown of Florida versus Arizona, Arizona turned as the winner.
People aged 65 above earned the same income in both Arizona and Florida. However, the income for an older household in Arizona is $46, 152 compared to Florida with $43, 804. When speaking of income, you might wonder about the average retirement income if you are not relocating with a partner. Arizona is the winner compared to Florida.
The household income
When speaking about the household income, the average retirement income in the state is $28, 648 compared to Florida, which is #27, 728. The value speaks! For the income tax rate, Arizona has no Social Security benefits, which makes it more tax-friendly for retirees. For home affordability, Arizona has a housing cost of 30% of the resident’s income.
As you can see, Arizona favors more on the residents over any other costs. It means that it is much cheaper to live in the states compared to Florida. Therefore, it is the more affordable option for homeowners. When speaking of Median property taxes, there is a general goal of retirement. It is to keep the expenses low to compensate, the fact that you are no longer employed. To pay off your mortgage certainly helps. However, you can’t escape property taxes.
Most retirees find Arizona as their option once they stop working, due to retirement. Public safety is guaranteed in the state.