Gold Canyon, AZ Cost Of Living

Gold Canyon 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	Gold Canyon	Arizona	National
Cost of living index	109	98	100
Index	Gold Canyon	Arizona	National
Goods & Services index	94	98	100
Groceries index	97	101	100
Health care index	98	97	100
Housing index	142	97	100
Transportation index	92	100	100
Utilities index	96	99	100

The above illustration supplies generalized information for the Gold Canyon, AZ cost of living index. Compared to other cities in Arizona and cities across the country, the cost of living index in Gold Canyon, AZ is 109, which is 11% higher than the Arizona average and 9% higher than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Gold Canyon, AZ are 4% lower than the average for Arizona and 6% lower than the rest of the country.

Did you know?

The cost of living in Gold Canyon is 11% higher than the Arizona average.
The cost of living in Gold Canyon is 9% higher than the national average.
The cost of housing in Gold Canyon is 42% 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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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

The salary calculator is used in order to provide a comparison of your current salary in Gold Canyon, AZ to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Gold Canyon, AZ, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Gold Canyon, AZ salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$68,695	$5,725	$1,603	$2,061
Renters	$58,182	$4,849	$1,357	$1,746

How much of your monthly income goes to housing can tell you whether or not you can afford housing in Gold Canyon, AZ, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Gold Canyon, AZ homeowners have a median income of $68,695. Using that number, you will come up with a maximum of $1,603 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $58,182, which means there is a maximum of $1,357 to be spent on the costs of renting a home or apartment.

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%

One thing to keep in mind when considering the cost of living in Gold Canyon, AZ is the Arizona sales tax and Arizona income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Arizona sales tax rate is 5.6% and the maximum surtax that can be charged is 10.725%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Arizona income tax rates range from 2.59% to 4.54%.

Goods & Services

Item	Gold Canyon	National avg.	Difference
Haircut	$14.92	$16.09	7.3%
Beauty Salon	$35.00	$37.33	6.2%
Toothpaste	$2.33	$2.45	4.9%
Shampoo	$0.99	$1.00	1.1%
Movie	$9.55	$10.28	7.1%
Bowling	$8.01	$4.93	62.4%

Groceries

Item	Gold Canyon	National avg.	Difference
Ground Beef	$3.06	$3.80	19.5%
Fried Chicken	$1.52	$1.40	8.8%
Milk	$1.49	$2.01	25.6%
Potatoes	$2.71	$3.01	9.9%
Pizza	$10.99	$9.89	11.2%
Beer	$8.70	$8.90	2.3%

Health Care

Item	Gold Canyon	National avg.	Difference
Optometrist	$72.44	$102.16	29.1%
Doctor	$99.17	$108.36	8.5%
Dentist	$99.17	$92.53	7.2%
Ibuprofen	$7.25	$9.28	21.9%
Lipitor	$449.51	$425.82	5.6%

Housing

Item	Gold Canyon	National avg.	Difference
Home Price	$261,300.00	$184,700.00	41.5%
Avg. Mortgage Payment	$1,140.12	$1,202.44	5.2%
Apartment Rent	$1,347.00	$949.00	41.9%

Transportation

Item	Gold Canyon	National avg.	Difference
Gasoline	$2.12	$2.24	5.5%
Tire Balancing	$39.99	$46.29	13.6%

Utilities

Item	Gold Canyon	National avg.	Difference
All Electricity	$197.60	$165.96	19.1%
Phone	$19.99	$28.68	30.3%

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, State	Population	Cost of Living Index	National Avg.
Apache Junction, AZ	37,775	84	-16%
Queen Valley, AZ	712	89	-11%
San Tan Valley, AZ	88,507	96	-4%
Queen Creek, AZ	30,849	110	10%
Gold Canyon, AZ	9,616	109	9%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Safford, AZ	9,616	93	-7%
Girard, OH	9,615	80	-20%
Chevy Chase, MD	9,618	200	100%
Fort Oglethorpe, GA	9,613	87	-13%
Conning Towers Nautilus Park, CT	9,606	118	18%
Gold Canyon, AZ	9,616	109	9%

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

Gold Canyon, AZ Cost of Living