A+
3%
Overall NAT. AVG.
15%
Goods & Services NAT. AVG.
35%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Eloy Arizona National
Cost of living97101100
Goods & Services115104100
Groceries103102100
Health care9894100
Housing6597100
Transportation124106100
Utilities9895100

An Overview of Cost of Living in Eloy, AZ

Getting a feel for the cost of living in Eloy 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 Eloy is 97, which is 3% lower 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.

The cost of living in Eloy aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Eloy residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

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 Eloy, these items will cost you 15% more than what's considered the norm, making it a more expensive place to call home.

Is Eloy Affordable?

Is Eloy 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 Eloy, for instance, where the median home price falls 41.1% lower than the national average, and monthly rent rates are 19.4% lower than usual. Additionally, median income levels contribute to the equation, with Eloy flaunting a median household income of $37,405, 32.4% lower than the national norm.

What Factors can Influence the Cost of Living in Eloy?

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Eloy, the transportation index is 23.9% higher than the national average.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Eloy, the utilities index registers 1.6% lower than the national average.

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Eloy, the prevailing sales tax rate starts at 5.6%, and income tax rates kick off at 2.55%.

Where is the Data From?

The cost of living in Eloy, 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.

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Cost Of Living Quick Facts

  • The cost of living in Eloy is 3% lower than the Arizona average
  • The cost of living in Eloy is 3% lower than the national average
  • Eloy housing is 35% lower than the national average
  • Arizona general sales tax is 10% higher than the national average
  • Arizona state income tax is 4% lower than the national average

Most Affordable Places to Live in and Around Eloy

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Compare Eloy, AZ Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$59,495$4,958$1,388$1,785
      Renters$15,435$1,286$360$463
      A good indicator of the general affordability of housing in Eloy, AZ, 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 Eloy, the median monthly income is $59,495 for those who own their own homes. Under the standard rule, that income level would allow for $1,388 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $15,435, per the median income in the area. That would allow for renters to spend up to $360 on monthly rental expenses.

      Arizona Sales Tax

      State General Sales Tax With Max Surtax
      Arizona 5.6% 10.725%

      Arizona Income Tax

      State Income Tax (Low) Income Tax (High)
      Arizona 2.5% 2.5%

      Goods & Services

      Item Eloy National avg. Difference
      Haircut $31.99$24.2631.9%
      Beauty Salon $51.63$45.5613.3%
      Toothpaste $3.74$3.701.1%
      Shampoo $1.24$1.283.3%
      Movie $12.43$12.132.5%
      Bowling $24.03$18.0033.5%

      Groceries

      Item Eloy National avg. Difference
      Ground Beef $5.75$5.841.5%
      Fried Chicken $1.47$1.576.7%
      Milk $4.84$4.673.5%
      Potatoes $4.54$4.937.9%
      Pizza $13.22$12.099.3%
      Beer $11.37$10.419.2%

      Health Care

      Item Eloy National avg. Difference
      Optometrist $105.08$125.6816.4%
      Doctor $126.58$135.786.8%
      Dentist $108.47$113.294.3%
      Ibuprofen $10.93$10.652.6%
      Lipitor $529.92$468.6013.1%

      Housing

      Item Eloy National avg. Difference
      Home Price $108,700.00$184,700.0041.1%
      Avg. Mortgage Payment $2,990.52$2,346.6927.4%
      Apartment Rent $765.00$949.0019.4%

      Transportation

      Item Eloy National avg. Difference
      Gasoline $4.47$3.4629.1%
      Tire Balancing $66.63$59.9211.2%

      Utilities

      Item Eloy National avg. Difference
      All Electricity $193.37$193.990.3%
      Phone $184.32$192.254.1%
      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.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Chuichu, AZ28011110.6%
      Sacate Village, AZ351918.6%
      Red Rock CDP (Apache County), AZ1749010.0%
      Cactus Forest, AZ705946.4%
      Coolidge, AZ13,016990.6%
      Eloy, AZ18,306973.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Harrison, NJ18,31312828.3%
      St. Marys, GA18,321981.9%
      Menasha, WI18,2809010.2%
      Schofield Barracks, HI18,27617979.2%
      Bensenville, IL18,2731088.4%
      Eloy, AZ18,306973.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.