Prescott Valley 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.
IndexPrescott ValleyArizonaNational
Cost of living index9497100
IndexPrescott ValleyArizonaNational
Goods & Services index9297100
Groceries index9398100
Health care index95100100
Housing index9494100
Transportation index10099100
Utilities index9599100
An overview of the general cost of living index for Prescott Valley, AZ is displayed above for your reference. Residents in Prescott Valley, AZ enjoy a cost of living index of 94. This index is 3% lower than the Arizona average, and 6% lower 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 Prescott Valley, 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 Prescott Valley is 3% lower than the Arizona average.
  • The cost of living in Prescott Valley is 6% lower than the national average.
  • The cost of housing in Prescott Valley is 6% lower 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 Prescott Valley, AZ Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is meant to help you compare your salary in Prescott Valley, AZ to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Prescott Valley, AZ, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Prescott Valley, AZ salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$53,895$4,491$1,257$1,617
Renters$31,609$2,634$737$948
One can approximate the cost of living and the housing affordability in Prescott Valley, AZ by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Prescott Valley, AZ have a median income of $53,895. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,257 per month to avoid calamity and poverty. The renters in the city have an income of about $31,609, which would make their monthly maximum allowable rental costs $737.

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 assessing the complete cost of living in Prescott Valley, AZ, the Arizona income tax and the Arizona sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Arizona maximum surtax is 10.725%, and the Arizona sales tax is 5.6%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 2.59% to 4.54% in Arizona.

Goods & Services

ItemPrescott ValleyNational avg.Difference
Haircut $13.17$14.599.8%
Beauty Salon $26.66$34.6823.1%
Toothpaste $2.03$2.4717.9%
Shampoo $0.96$1.026.1%
Movie $8.50$9.8713.9%
Bowling $3.25$4.3926.0%

Groceries

ItemPrescott ValleyNational avg.Difference
Ground Beef $4.10$4.488.4%
Fried Chicken $1.54$1.465.2%
Milk $1.67$2.3629.1%
Potatoes $3.49$3.0614.0%
Pizza $8.00$9.2413.4%
Beer $8.04$8.636.9%

Health Care

ItemPrescott ValleyNational avg.Difference
Optometrist $97.80$99.782.0%
Doctor $96.20$105.038.4%
Dentist $85.75$88.703.3%
Ibuprofen $8.61$9.418.5%
Lipitor $288.75$298.503.3%

Housing

ItemPrescott ValleyNational avg.Difference
Home Price $164,400.00$175,700.006.4%
Avg. Mortgage Payment $1,112.00$1,081.032.9%
Apartment Rent $866.00$920.005.9%

Transportation

ItemPrescott ValleyNational avg.Difference
Gasoline $2.18$2.094.3%
Tire Balancing $39.20$45.2913.4%

Utilities

ItemPrescott ValleyNational avg.Difference
All Electricity$169.27$170.800.9%
Phone $25.39$28.2610.1%
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.
Mayer, AZ91180-20%
Chino Valley, AZ10,87992-8%
Dewey-Humboldt, AZ3,91393-7%
Clarkdale, AZ4,10198-2%
Prescott, AZ40,1301055%
Prescott Valley, AZ39,57594-6%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Beaumont, CA39,62011313%
Atlantic City, NJ39,52111313%
Woodlawn, MD39,5181055%
Bullhead City, AZ39,48085-15%
Romeoville, IL39,6751033%
Prescott Valley, AZ39,57594-6%
Source: The Prescott Valley, AZ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.