Picture Rocks cost of living index

An overview of the general cost of living index for Picture Rocks, AZ is displayed above for your reference. Residents in Picture Rocks, AZ enjoy a cost of living index of 90. This index is 8% lower than the Arizona average, and 10% 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 Picture Rocks, AZ, the average cost of goods and services is 4% higher than it is in Arizona, and it is 1% higher than the national average.

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Salary Calculator

Use the salary calculator to compare your current salary in Picture Rocks, 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 Picture Rocks, AZ, then you would need to earn more income in order to maintain the same standard of living. To use the Picture Rocks, 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

If you want to find a good determining factor for the cost of living and the general affordability of housing in Picture Rocks, AZ, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Picture Rocks, AZ, the median monthly income is $58,750 for those who own their own homes. Under the standard rule, that income level would allow for $1,371 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $24,034, per the median income in the area. That would allow for renters to spend up to $561 on monthly rental expenses.

Arizona Sales Tax

Arizona Income Tax

For those who live in Picture Rocks, AZ and want to know what the true cost of living is, they ought to look at both the Arizona income tax rate and the Arizona sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Arizona, the sales tax is 5.6%, while the most you'll pay in surtax is 10.725%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Arizona, the income tax rate ranges between 2.59% to 4.54%.

Goods & Services

Groceries

Health Care

Housing

Transportation

Utilities

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.

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