In the heart of the Valley of the Sun is Phoenix, Arizona, the state’s capital city and its most highly populated. 1,626,000 people call it home, and if you are thinking about joining them, you probably have quite a few questions about what it is like to live in Phoenix. Below, we will talk about the Phoenix cost of living, taxes, employment market, education options, average home costs and more.
Sperling’s Best Places rates cost of living on an index where 100 represents the US average. On that index, Phoenix receives a rating of 113.4. This means that living in Phoenix is a little more expensive than living elsewhere in the country on average.
Groceries in Phoenix actually cost less than the nationwide average, but most other costs are a little bit higher. The biggest differences come into play with transportation and housing.
Income taxes in Arizona max out at 4.54%. This is a little bit lower than state taxes in Utah, Colorado and New Mexico. It is also significantly lower than the maximum income tax in California.
The general sales tax rate in Phoenix is 5.6%. Across the country, sales taxes range from around 2.9% to around 7.25%, so the taxes you will pay on your purchases in Phoenix are somewhere in the middle.
Now let’s talk about the Phoenix employment market. While the unemployment rate in Phoenix is a tad higher than the US average (4.2% versus 3.9%), the job market is increasing swiftly.
Indeed, while the job market is growing at a rate of 33.5% nationwide on average, it is growing at a rate of 48.2% in Phoenix. So there may be excellent opportunity here to grow your career over the next decade.
According to the US Census, the median household income in Phoenix is 52,080. The average income per capita is $26,528.
Sperling’s reports that the median home cost in Phoenix is $229,300. While this is higher than the US nationwide average home costs of $216,200, it is lower than the average for Arizona, which is $239,500.
In all, there are 33 school districts serving Phoenix. These consist of 21 elementary school districts along with four high-school districts. In total, there are 446 public schools as well as 59 private schools to choose from.
If you are looking for higher education opportunities in Phoenix, there are a few compelling possibilities. For one, there is Arizona State University. Another option is the Maricopa County Community College District. There are also institutions which are dedicated to narrow fields, such as the Barrow Neurological Institute.
Owing to its climate and geography, Phoenix also offers a number of flight schools for those hoping to become professional pilots.
As mentioned earlier, transportation costs in Phoenix are higher than they are nationwide. Around a quarter of the population drives to work alone. About 12.5% choose to carpool in order to save money. A little more than 5% of the city’s population works from home. The remaining 3.3% who work use public transportation.
The average commute time one direction in Phoenix is estimated to be around 25.4 minutes. This is just marginally lower than the US nationwide average of 26.4 minutes.
If you are interested in using public transportation, you will be riding on trains and buses operated by Valley Metro. The Phoenix area also is served by Amtrak and Greyhound. As you might expect, there are a couple of airports as well.
The climate in Phoenix is exactly what you’d expect: hot and sunny. If you don’t like rain, this is a great spot to settle down. Whereas the US on average gets around 39 inches of rain annually, Arizona only gets about 10 annual inches of rain.
There are 205 average days of sunlight across the country. Phoenix gets 299. This is why it is such a popular area for flight training.
Summer highs can get to be around 105°F. What is great is that during winter, the lows only drop down to around 44°F.
Sperling’s has a comfort index for climate where the US average is 54 out of 100, with higher scores representing more ideal climates. On that scale, Phoenix rates an 80, which is pretty outstanding. For many people, climate is a huge part of the city’s attraction.
What is there to do in and around Phoenix when you’re not working? Quite a bit. In fact, Phoenix has so much to offer that tourism is among its largest industries. That means that there is plenty for locals to see and do as well.
If you are interested in the region’s history, you will want to check out destinations like the Casa Grande Ruins National Monument and Montezuma’s Castle. If you are interested in nature, visit locations like the Organ Pipe Cactus National Monument. Other popular destinations to explore include the Phoenix Botanical Gardens and the Phoenix Zoo. And if you love the fairways, make sure you don’t miss out on the more than 200 golf courses throughout the Phoenix metropolitan region.
Ready to make Phoenix your home and enjoy a beautiful, sunny year-round climate and everything else which this bustling city has to offer? Please give Barrett Financial Group a call today at (480) 470-1080 to schedule your consultation. We will connect you with the most suitable Phoenix home loan for your needs.
Barrett Financial Group LLC is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.