A+
13%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
56%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Flowing Wells Arizona National
Cost of living87101100
Goods & Services109104100
Groceries105102100
Health care9094100
Housing4497100
Transportation108106100
Utilities10295100

An Overview of Cost of Living in Flowing Wells, AZ

Understanding the cost of living in Flowing Wells 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 Flowing Wells cost of living index is 87, which is 13% 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.

It's not uncommon for housing expenses to eat up a substantial portion of your income, oten exceeding 30%. The good news is that Flowing Wells stands out by reporting housing costs that are 56.4% lower than the national average. This signifies that both homeownership and rental expenses in this region are considerably more affordable compared to the rest of the country. This favorable housing situation allows residents to allocate a more manageable portion of their income to housing, resulting in greater financial flexibility.

Is Flowing Wells Affordable?

Is Flowing Wells an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Flowing Wells is 75.7% lower than the national average, while the average monthly rent prices are 11.5% lower than average. The affordability of any location can also be influenced by median income levels. Flowing Wells has a median household income of $34,581, which is 37.5% lower than the national average.

What Factors can Influence the Cost of Living in Flowing Wells?

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Flowing Wells, the housing index stands at 56.4% lower than the national average.

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Flowing Wells, the baseline sales tax rate begins at 5.6%, and income tax rates start at 2.55%.

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Flowing Wells, the healthcare costs are 10.2% lower than the national average.

Where is the Data From?

The cost of living data in Flowing Wells 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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Cost Of Living Quick Facts

  • The cost of living in Flowing Wells is 13% lower than the Arizona average
  • The cost of living in Flowing Wells is 13% lower than the national average
  • Flowing Wells housing is 56% lower than the national average
  • Arizona general sales tax is 10% higher than the national average
  • Arizona state income tax is 13% higher than the national average

Most Affordable Places to Live in and Around Flowing Wells

See all the best places to live around Flowing Wells

Compare Flowing Wells, AZ Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$33,666$2,806$785$1,010
      Renters$36,168$3,014$844$1,085
      The affordability of the housing market in Flowing Wells, AZ as well as the overall cost of living can be predicted 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 be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Flowing Wells homeowners, the median income is $33,666. This indicates that a monthly maximum of $785 should be spent by homeowners on all housing related costs. Renters have a median income of $36,168. This indicates that renters would have a maximum of $844 for their rent related monthly costs.

      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 2.55% 2.98%

      Goods & Services

      Item Flowing Wells National avg. Difference
      Haircut $29.15$24.2620.2%
      Beauty Salon $45.06$45.561.1%
      Toothpaste $3.64$3.701.8%
      Shampoo $1.33$1.284.1%
      Movie $12.36$12.131.9%
      Bowling $13.68$18.0024.0%

      Groceries

      Item Flowing Wells National avg. Difference
      Ground Beef $6.07$5.844.0%
      Fried Chicken $1.41$1.5710.3%
      Milk $4.75$4.671.7%
      Potatoes $4.58$4.937.1%
      Pizza $12.52$12.093.6%
      Beer $11.13$10.416.9%

      Health Care

      Item Flowing Wells National avg. Difference
      Optometrist $116.73$125.687.1%
      Doctor $125.31$135.787.7%
      Dentist $101.61$113.2910.3%
      Ibuprofen $11.03$10.653.6%
      Lipitor $370.51$468.6020.9%

      Housing

      Item Flowing Wells National avg. Difference
      Home Price $44,900.00$184,700.0075.7%
      Avg. Mortgage Payment $2,328.25$2,346.690.8%
      Apartment Rent $840.00$949.0011.5%

      Transportation

      Item Flowing Wells National avg. Difference
      Gasoline $4.05$3.4617.0%
      Tire Balancing $52.24$59.9212.8%

      Utilities

      Item Flowing Wells National avg. Difference
      All Electricity $198.69$193.992.4%
      Phone $193.20$192.250.5%
      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 Population Cost of Living Index National Avg.
      Summerhaven, AZ351065.9%
      Rillito, AZ01065.9%
      Nelson, AZ7758812.0%
      Littletown, AZ645918.7%
      South Tucson, AZ5,692928.4%
      Flowing Wells, AZ17,2278712.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Pampa, TX17,2268119.1%
      Tavares, FL17,228954.7%
      Anacortes, WA17,23114040.0%
      New Castle, IN17,2348416.3%
      Perry, GA17,235928.2%
      Flowing Wells, AZ17,2278712.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.