How does Your Cost of Living Compare?

I think we can all agree that the cost of living everywhere is out of control, but some U.S. cities are being hit harder than others. GoBankRate.com did a study to determine which 5 US cities were experiencing the most dramatic cost increases. The results of their study below does not include any Arizona cities but that doesn’t mean we’re not feeling the impact.

Similar analyses, focused on Arizona alone have been conducted with mixed results. One by USA Today found Arizona to be the third most affordable state, while another determined that we topped the charts at 6% above the national average. How is this possible? Every study uses different criteria, even placing importance on possibly conflicting data. Every element of a survey should be scrutinized before accepting results of any such study. For instance, if quality of life is important to you, you may want to ensure that health and well-being, educational opportunities, or some sort of comfort and standard of living are evidenced is the research you choose to consider.

Recently AZBigMedia compiled a list of Arizona’s most affordable places to live. As you might expect, several of these are what could be considered ‘off the beaten path’. This is not to say they aren’t the perfect home for you, just that convenience doesn’t play a part in their affordability index. On the other hand, Tucson, Arizona’s 2nd largest city comes in 7th on AZBigMedia’s affordability list. Tucson can indeed declare convenience as an outstanding attribute of their city. With home values, rental costs and property taxes the predominant factors in AZBigMedia’s research, the most affordable places to live ranked in this order: Siera Vista, Douglas, Globe, Sahuarita, Safford, Winslow, Tucson, Yuma, Vail and Rio Rico.

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Also not surprising, the 10 places determined to have the highest cost of living in Arizona are also the cities with the most expensive housing. Topping this list are: Paradise Valley, Carefree, Fort McDowell, Cave Creek, Sedona, Rio Verde, Scottsdale, New River, Queen Creek and Fountain Hills. Familiar names like Flagstaff, Prescott, and Gilbert came in 11th, 14th and 17th respectively.

No matter where your town or city falls on the cost of living scale, housing is most likely a family’s largest and most significant expense and the one most critical to any survey or research. Know your home’s value! The value of your home will impact property taxes, insurance rates and even maintenance costs.

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Cost of Living Soaring in These U.S. Cities

Do you live in one of the most expensive cities in the country? Are you unsure? A recent GoBankingRates study unveiled the places in the country with the highest cost of living.

According to the study, American household debt totaled a record $12.73 trillion as of March 2017, so cost of living concerns are more pertinent than ever.

The study evaluated U.S. cities based on two principal metrics:

The increase in a city’s cost of living index, which includes food, rent, utilities and transportation.
The Increase in the amount of income required to “live comfortably,” a concept used in GOBankingRates studies that combines the money needed to pay for necessities — including food, rent, utilities, transportation and healthcare — with the amount one should budget toward discretionary spending and savings.

Their findings? Read below.

Top 5 Cities Where the Cost of Living is Rising Quickly

5. Jacksonville, Fla.