Cost of Living in Buckeye, AZ

An Overview of Cost of Living in Buckeye, AZ

Understanding the cost of living in Buckeye can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Buckeye cost of living index is 112, which is 12% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

Housing costs significantly influence the Buckeye cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 35.1%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

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

Locals have the inside scoop on their city. So, we polled 7 residents in Buckeye to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 29% find it reasonable with decreasing prices, but 71% think it's quite pricey, with prices that continue to rise.

Is Buckeye Affordable?

Wondering if Buckeye is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Buckeye, for example, the median home price is 33.4% higher than what folks pay nationally, and monthly rent is 39.1% higher than the usual rates. Plus, income levels matter too, with Buckeye boasting a median household income of $79,156, which is 43.1% higher than the national average.

What Factors can Influence the Cost of Living in Buckeye?

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 situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Buckeye, the transportation index is 4.7% lower than the national average.

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Buckeye, healthcare costs are 13.4% lower than the national average.

Where is the Data From?

The cost of living in Buckeye, 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.