Is It Expensive to Move To Arizona?
If you are planning on making a move to Arizona one of the things you must take into account is the cost of living when you move. It wouldn’t hurt if you at least had an idea of how much groceries will cost along with gas, utilities, and other expenses.
These costs vary from state to state and it’s good that you know and factor them in so you’ll be prepared and have your budget ready when you arrive in your new neighborhood.
The top cities you can consider when moving to Arizona are Tucson, Chandler, Scottsdale, Tempe, and Buckeye.
We’ll dig deeper and try to find out how expensive it is to move to Arizona and why so many people are relocating to the Grand Canyon State.
Housing costs are reasonable
Retirees are coming in droves and it’s not hard to understand why. With warm weather all year long and reasonable housing prices, who wouldn’t want to make the move?
The median home value in Arizona as of this writing is about $225,500 and in some areas, you can buy a home as low as $155,300.
Renters would also be happy to know that leasing is also not that high in Arizona. Average apartment costs are $1,052 per month while in Tucson you can get an apartment at even a lower rate of $846 monthly.
If you want to know about the latest prices for a Boulder County single-family home, reach out to us today.
You can stretch your food budget
When you make the trip to the grocery you’ll be happy to find out that you’ll spend 4% less than the national average. This means you can buy more and stretch your food budget when you make the move to Arizona. Imagine having a budget of only $300 per month for food if you are single and you enjoy having home-cooked meals.
Prepare to spend more on utilities
One of the reasons people move to the Grand Canyon State is the warm weather all year round. Due to the hot and dry climate, you should expect to spend more on utilities. The cost is around $440 per month which is 4.25% higher than the national average.
Temperatures can rise to 100 degrees during the summer which means you’ll have to use more of your air conditioning to stay cool.
Healthcare costs are much higher
While the cost of living in Arizona is affordable in general, healthcare costs are the fourth highest in the country at $8,060 annually.
Medical expenses will vary depending on where you live. For example, you should expect to pay 24% in healthcare in Flagstaff compared to Phoenix.
Taxes are low
Retirees love Arizona because it doesn’t charge an estate tax. Income taxes are also quite low and the state also places a cap on the property tax rate of owner-occupied homes.
Transportation via light rail line and bus service
The Valley Metro Rail is the most practical form of transportation which boasts of a 45km rail line that serves the cities of Tempe, Phoenix, and Mesa in Arizona. It takes just a 40-minute ride to reach downtown Phoenix. A 1-day ticket will cost $4 if you are 9 to 64 years old while you pay half if you are outside this age bracket.
The Valley Metro also runs a bus service in the city which is another budget-friendly alternative to getting around in the downtown areas of Phoenix.
Arizona's cost of living compared to nearby states
Did you know that living in Phoenix is 50% cheaper than San Diego? If you’re moving from California you’ll be surprised how much your living expenses have gone down once you’ve moved. For those who live on the East Coast, you can expect 20% lower living expenses compared to New York.
If moving to Arizona is a good idea for you, applying for an FHA loan in Colorado is a good loan product you can consider for your home purchase.
Is moving to Arizona worth it?
Arizona is the third fastest-growing state in America and the population is booming at a rapid pace. There are plenty of new developments in various cities which gives you more choices for affordable housing.
Being a part of a progressive city with great weather and a low cost of living adds to the appeal of moving to Arizona. Plus you have the Grand Canyon and the Colorado River to enjoy any time you want.
If you are tired of cold winters, you will surely enjoy the 8 to 9 months of sunny weather and you’ll never experience freezing or single-digit temperatures again. Winters are very mild in Arizona and you can barely see any snow. It’s common to have people visiting the state to escape the bitter cold in the Northern part of the U.S.
Moving to Arizona may help you save money in the long run due to the low cost of living compared to other states. If you are moving from a state with significantly higher living expenses then your move will be worth it.
If you want to know about the latest interest rates in Arizona, you can reach out to one of our loan officers for more info.
Are you ready to make the move to Arizona?
One of the reasons why people opt to move to Arizona is the modest living expenses in the state. It’s really not that expensive to move but you need to prepare yourself for the hot summers that can go beyond 100 degrees. As long as you remember to keep hydrated and have your air conditioning in top shape you’ll be fine.
Now that you have an idea about the cost of living in Arizona and you’ve decided to move, working with a trusted and reliable mortgage advisor from Castle Rock Mortgage can make the home buying process easier and stress-free.
Get in touch with one of our loan advisors at Castle Rock Mortgage for the best loan products available in the market today.
* Specific loan program availability and requirements may vary. Please get in touch with the mortgage advisor for more information.