New River 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.
IndexNew RiverArizonaNational
Cost of living index11397100
IndexNew RiverArizonaNational
Goods & Services index9297100
Groceries index10198100
Health care index97100100
Housing index15794100
Transportation index9499100
Utilities index9399100
An overview of the general cost of living index for New River, AZ is displayed above for your reference. Residents in New River, AZ enjoy a cost of living index of 113. This index is 17% higher than the Arizona average, and 13% 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 New River, AZ, the average cost of goods and services is 5% lower than it is in Arizona, and it is 8% lower than the national average.

Did you know?

  • The cost of living in New River is 17% higher than the Arizona average.
  • The cost of living in New River is 13% higher than the national average.
  • The cost of housing in New River is 57% 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 New River, AZ Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in New River, AZ to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in New River, AZ, then you would need to earn more income in order to maintain the same standard of living. To use the New River, AZ salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$80,850$6,738$1,886$2,426
Renters$51,214$4,268$1,195$1,537
The affordability of the housing market in New River, AZ as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among New River, AZ homeowners, the median income is $80,850. This indicates that a monthly maximum of $1,886 should be spent by homeowners on all housing related costs. Renters have a median income of $51,214. This indicates that renters should have a maximum of $1,195 used for their rent related monthly costs.

Arizona Sales Tax

StateGeneral Sales TaxWith Max Surtax
Arizona5.6%10.725%

Arizona Income Tax

StateIncome Tax (Low)Income Tax (High)
Arizona2.59%4.54%
When you are determining the total cost of living in New River, AZ you will want to make sure you consider both the Arizona sales tax and the Arizona income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Arizona is 5.6%, with the highest surtax being 10.725%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Arizona have a range from 2.59% to 4.54%.

Goods & Services

ItemNew RiverNational avg.Difference
Haircut $13.00$14.5910.9%
Beauty Salon $25.00$34.6827.9%
Toothpaste $1.69$2.4731.7%
Shampoo $0.98$1.024.1%
Movie $9.50$9.873.7%
Bowling $4.50$4.392.5%

Groceries

ItemNew RiverNational avg.Difference
Ground Beef $4.64$4.483.6%
Fried Chicken $1.92$1.4631.1%
Milk $1.94$2.3617.7%
Potatoes $3.41$3.0611.4%
Pizza $10.00$9.248.2%
Beer $8.07$8.636.5%

Health Care

ItemNew RiverNational avg.Difference
Optometrist $84.00$99.7815.8%
Doctor $100.00$105.034.8%
Dentist $100.00$88.7012.7%
Ibuprofen $7.99$9.4115.1%
Lipitor $248.90$298.5016.6%

Housing

ItemNew RiverNational avg.Difference
Home Price $287,400.00$175,700.0063.6%
Avg. Mortgage Payment $997.22$1,081.037.8%
Apartment Rent $1,307.00$920.0042.1%

Transportation

ItemNew RiverNational avg.Difference
Gasoline $2.00$2.094.6%
Tire Balancing $40.00$45.2911.7%

Utilities

ItemNew RiverNational avg.Difference
All Electricity$184.52$170.808.0%
Phone $19.99$28.2629.3%
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, StatePopulationCost of Living IndexNational Avg.
Black Canyon City, AZ2,54282-18%
Anthem, AZ23,99511010%
Cave Creek, AZ5,01413939%
Carefree, AZ3,44515959%
New River, AZ15,43211313%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Avocado Heights, CA15,43213535%
Foley, AL15,42895-5%
Williamstown, NJ15,42511515%
Portland, TX15,42095-5%
Shively, KY15,45087-13%
New River, AZ15,43211313%
Source: The New River, AZ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.