Cost of Living in Phoenix, AZ
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
129.8
100 = national avg
+29.8 vs national average
Living Wage (1 Adult)
$57,113
per year
Living Wage (Family of 4)
$134,995
per year
Cost Index by Category
Housing164.5
Food108.9
Transportation104.7
Healthcare107.1
Utilities118.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,583
per month
2 Bedroom
$1,839
per month
The overall cost of living index in Phoenix is 129.8, which is 29.8% above the national average. Housing costs are above the national average at an index of 164.5. A single adult needs to earn approximately $57,113 per year to cover basic expenses.