Cave Creek, AZ Cost Of Living

Cave Creek cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Index	Cave Creek	Arizona	National
Cost of living index	137	98	100
Index	Cave Creek	Arizona	National
Goods & Services index	98	98	100
Groceries index	102	101	100
Health care index	84	97	100
Housing index	215	97	100
Transportation index	109	100	100
Utilities index	127	99	100

An overview of the general cost of living index for Cave Creek, AZ is displayed above for your reference. Residents in Cave Creek, AZ enjoy a cost of living index of 137. This index is 39% higher than the Arizona average, and 37% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Cave Creek, AZ, the average cost of goods and services is equal to it is in Arizona, and it is 2% lower than the national average.

Did you know?

The cost of living in Cave Creek is 39% higher than the Arizona average.
The cost of living in Cave Creek is 37% higher than the national average.
The cost of housing in Cave Creek is 115% higher than the national average.
Arizona general sales tax is 10% higher than the national average.
Arizona state income tax is 16% higher than the national average.

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Compare Cave Creek, AZ Cost of living To Other Cities

Salary Calculator

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Using the salary calculator lets you compare the salary you earn in Cave Creek, AZ to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Cave Creek, AZ, you have to earn a higher income in order to still have the same standard of living. To operate the Cave Creek, AZ salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$86,250	$7,188	$2,012	$2,588
Renters	$65,750	$5,479	$1,534	$1,973

If you want to find a good determining factor for the cost of living and the general affordability of housing in Cave Creek, AZ, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Cave Creek, AZ, the median monthly income is $86,250 for those who own their own homes. Under the standard rule, that income level would allow for $2,012 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $65,750, per the median income in the area. That would allow for renters to spend up to $1,534 on monthly rental expenses.

Arizona Sales Tax

State	General Sales Tax	With Max Surtax
Arizona	5.6%	10.725%

Arizona Income Tax

State	Income Tax (Low)	Income Tax (High)
Arizona	2.59%	4.54%

The Arizona sales tax and Arizona income tax rates should definitely be considered when determining the overall cost of living in Cave Creek, AZ. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Arizona sales tax is 5.6% and the maximum surtax is 10.725%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Arizona income tax rates range from 2.59% to 4.54%.

Goods & Services

Item	Cave Creek	National avg.	Difference
Haircut	$17.76	$16.09	10.4%
Beauty Salon	$45.74	$37.33	22.5%
Toothpaste	$1.89	$2.45	22.9%
Shampoo	$1.00	$1.00	0.2%
Movie	$10.37	$10.28	0.8%
Bowling	$4.51	$4.93	8.5%

Groceries

Item	Cave Creek	National avg.	Difference
Ground Beef	$3.20	$3.80	15.8%
Fried Chicken	$1.68	$1.40	20.3%
Milk	$1.75	$2.01	13.0%
Potatoes	$4.43	$3.01	47.1%
Pizza	$10.93	$9.89	10.6%
Beer	$9.11	$8.90	2.4%

Health Care

Item	Cave Creek	National avg.	Difference
Optometrist	$84.79	$102.16	17.0%
Doctor	$93.78	$108.36	13.5%
Dentist	$65.86	$92.53	28.8%
Ibuprofen	$9.49	$9.28	2.3%
Lipitor	$402.92	$425.82	5.4%

Housing

Item	Cave Creek	National avg.	Difference
Home Price	$453,300.00	$184,700.00	145.4%
Avg. Mortgage Payment	$1,023.15	$1,202.44	14.9%
Apartment Rent	$1,362.00	$949.00	43.5%

Transportation

Item	Cave Creek	National avg.	Difference
Gasoline	$2.28	$2.24	1.6%
Tire Balancing	$56.97	$46.29	23.1%

Utilities

Item	Cave Creek	National avg.	Difference
All Electricity	$291.55	$165.96	75.7%
Phone	$20.17	$28.68	29.7%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, State	Population	Cost of Living Index	National Avg.
Deer Creek, AZ	169	101	1%
New River, AZ	15,305	117	17%
Anthem, AZ	22,571	121	21%
Carefree, AZ	3,580	150	50%
Cave Creek, AZ	5,275	137	37%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
West Modesto, CA	5,274	98	-2%
Batesburg-Leesville, SC	5,273	92	-8%
Concordia, KS	5,273	77	-23%
East Moriches, NY	5,272	142	42%
Stokesdale, NC	5,278	101	1%
Cave Creek, AZ	5,275	137	37%

Source: The Cave Creek, AZ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Cave Creek, AZ Cost of Living