Cost of Living in Mesa, AZ

An Overview of Cost of Living in Mesa, AZ

Knowing the cost of living in Mesa allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Mesa stands at 116, marking it 16% higher than the national average.

When it comes to the cost of living in Mesa, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 28% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

The things you purchase regularly, like clothes, haircuts, movie tickets and gym memberships, can make a big dent in your budget and make up 33% of the cost of living index. Unfortunately in Mesa, these items will cost you 15% more than what's considered the norm, making it a more expensive place to call home.

What Do Locals Say About the Cost of Living in Mesa?

The real experts on a city are its residents. That's why we reached out to 27 locals to get their views on the cost of living in Mesa. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 48% found it budget-friendly with decreasing prices, while 52% said it's simply not affordable as prices have continued to rise.

Is Mesa Affordable?

Is Mesa affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Mesa, the median home price is 32.9% higher than the national average and monthly rent prices are 16.4% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Mesa boasting a median household income of $61,640, 11.4% higher than the national average.

What Factors can Influence the Cost of Living in Mesa?

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Mesa comes in at 1.6% lower than the national average.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Mesa, the housing index is 28% higher than the national average.

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Mesa, the groceries index is 2.6% higher than the national average.

Where is the Data From?

The cost of living in Mesa, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.