An Overview of Cost of Living in Fortuna Foothills, AZ
Understanding the cost of living in Fortuna Foothills can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Fortuna Foothills cost of living index is 96, which is 4% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
In Fortuna Foothills, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Fortuna Foothills will resemble that of an average city, contributing to a manageable cost of living.
Is Fortuna Foothills Affordable?
Is Fortuna Foothills affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Fortuna Foothills, for instance, where the median home price falls 30.6% lower than the national average, and monthly rent rates are 19.5% higher than usual. Additionally, median income levels contribute to the equation, with Fortuna Foothills flaunting a median household income of $49,129, 11.2% lower than the national norm.
What Factors can Influence the Cost of Living in Fortuna Foothills?
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Fortuna Foothills, the groceries index is 1.8% higher than the national average.
Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Fortuna Foothills, the utilities index is 16.4% lower than the national average.
Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Fortuna Foothills, is 15.6% lower than the national average.
Where is the Data From?
The Fortuna Foothills cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.
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