An Overview of Cost of Living in Camp Verde, AZ
Knowing the cost of living in Camp Verde allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Camp Verde stands at 104, marking it 4% higher than the national average.
The cost of living in Camp Verde is about average when compared to all other cities across the nation. You can expect that everyday items like food, goods and services and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.
Recurring goods and services expenses like haircuts, toothpaste, gym memberships and movie nights are a big part of your spending and make up 33% of the cost of living index. In Camp Verde, these items will cost you 12.3% more than what most folks pay, making it a bit more expensive to live here.
What Do Locals Say About the Cost of Living in Camp Verde?
Locals have the inside scoop on their city. So, we polled 5 residents in Camp Verde to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 60% find it reasonable with decreasing prices, but 40% think it's quite pricey, with prices that continue to rise.
Is Camp Verde Affordable?
Is Camp Verde an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Camp Verde, the median home price is 16.1% higher than what most folks pay across the country, and monthly rent prices are 22.7% lower than the usual rates. Income levels in Camp Verde come in at $42,889, which is 22.5% lower than the national average.
What Factors can Influence the Cost of Living in Camp Verde?
Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Camp Verde, the transportation index stands at 5% higher than the national average.
Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Camp Verde, the groceries index registers 3.8% higher than the national average.
Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Camp Verde comes in at 15% lower than the national average.
Where is the Data From?
The cost of living data in Camp Verde displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.
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