The cost of living in Arizona is 2.2% higher than the national average. Cities range from affordable to expensive, with many of them at or below average. Sedona is 32.1% higher than the state, while Phoenix is only 1.5% higher. Bullhead City's cost of living is 11.4% lower than Phoenix's, despite it being a tourist destination.
Average Home Prices in Arizona
The median cost of a home in Arizona is $249,300, which is $18,100 higher than the U.S. average. Homes in Sedona come with a much higher price tag of $504,600 on average. Houses in Phoenix are more affordable at $239,400, while the average price in Bullhead City is only $193,800. If you do some research, you'll find that there are plenty of affordable rent-to-own homes in Arizona.
If you're interested in Arizona rent-to-own homes, don't forget to consider important factors in addition to monthly living costs, such as average commute, taxes, crime rates, etc. The following are some common Arizona statistics compared to the U.S. national average.
|Arizona Averages||National Averages|
|One-Way Commute||25.1 minutes||26.4 minutes|
|Income Tax Rate||4.2%||4.6%|
|Median Household Income||$49,928||$53,482|
|Median Property Taxes||$1,600||$2,200|
|Median Home Cost||$249,300||$231,200|
|Median Home Age||28 years||40 years|
Popular Arizona Cities
Sedona is a 19.14-square-mile municipality. Only 10,339 people live in the city, but more than three million tourists come to visit annually. Its popularity stems from its location in the middle of Coconino National Forest and its proximity to the Grand Canyon. Sedona's elevation at 4,500 feet with temperatures between 35°-55°F in the winter and 75°-95°F in the summer make the city a pleasant outdoor locale year-round. The red rock mountains surrounding Sedona provide stunning views and a full line of outdoor recreation.
Phoenix is the capital of Arizona. It contains 1,680,992 residents, making it the most populous municipality in the state and the 5th in the country. The city is the economic hub for the Phoenix Metro Area, which was rated 26th in Best Places for Business and Careers and 28th in job growth in 2019 by Forbes. The Phoenix Suns and Arizona Diamondbacks are based in the city's bustling downtown, where you'll find businesses, parks, dining, and exciting nightlife. Though it's located in the Sonoran Desert, Phoenix has beautiful tree-lined streets with Spanish architecture homes.
More than two million visitors come to Bullhead City every year. What began as the headquarters for the construction of the Davis Dam in the 1940s is now the retail hub for the region with a population of 40,884. Its location along Lake Mead is desirable to both its residents and tourists. Bullhead City has 33 miles of shoreline offering every type of water activity, and the nearby Newberry, Spirit, and Black Mountains provide a full line of outdoor recreation. Tourists range from people who visit the Nevada casinos and cross the river for a quick getaway to winter guests who come for the warm weather and calm environment.
Popular Amenities and Attractions in Arizona
Arizona evokes images of large stretches of dry desert; however, the state has lots of greenery and water. The Coconino National Forest alone has more than 1.8 million acres of vegetation. Take a scenic drive through the area to check out the variety of trees and gorgeous views. Or get up close and enjoy the mountains, creeks, lakes, and wildlife. You can go hunting, fishing, boating, biking, mountain climbing, and skiing, and then spend the night in a cabin or brave it under the stars.
The ""Wild West"" is no more, but its spirit lives on in Arizona. There are many spots around the state that can bring you back to the pioneering days. Visit the O.K. Corral to see the actual site where the famous 1880s shootout involving Wyatt Earp, Doc Holliday, and six other cowboys took place. You can also study Geronimo's life and his many exploits at Tombstone's Historama, located next to the O.K. Corral. Learn all about frontier life at the Pioneer Living Museum. The 90-acre parcel has paths leading to the homes of the people who originally settled the area in the mid to late 1800s. If you're lucky, you'll get to see costumed volunteers who roam the area upon occasion to give the site an authentic feel.
People keep moving to Arizona. Its population of 7,278,717 is a 13.9% increase over its 2010 Census numbers. Join the crowds and check out some of the affordable rent-to-own homes in Arizona. Arizona's unique rugged spirit, stunning natural beauty, and bustling economy make it a perfect place to live. So if you're thinking of settling somewhere new, consider making this southwestern state your next home.