Cost of Living in San Tan Valley, AZ

An Overview of Cost of Living in San Tan Valley, AZ

Getting a feel for the cost of living in San Tan Valley is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in San Tan Valley is 117, which is 17% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

When it comes to the cost of living in San Tan Valley, 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 32.1% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Recurring essentials like haircuts, toothpaste, and entertainment, from movies to gym sessions, can really add up in your budget and make up 33% of the cost of living index. In San Tan Valley, you you will have to spend 15% more than average when compared to the typical prices for these items, making it a more expensive place to live.

Is San Tan Valley Affordable?

Is San Tan Valley affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take San Tan Valley, for instance, where the median home price falls 23.8% higher than the national average, and monthly rent rates are 51.4% higher than usual. Additionally, median income levels contribute to the equation, with San Tan Valley flaunting a median household income of $74,455, 34.6% higher than the national norm.

What Factors can Influence the Cost of Living in San Tan Valley?

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In San Tan Valley, the transportation index is 23.9% higher than the national average.

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In San Tan Valley, the groceries index is 2.6% higher than the national average.

Where is the Data From?

The cost of living data in San Tan Valley 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.