C
21%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
63%
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 Goodyear Arizona National
Cost of living121101100
Goods & Services102104100
Groceries98102100
Health care8794100
Housing16397100
Transportation95106100
Utilities12495100

An Overview of Cost of Living in Goodyear, AZ

Understanding the cost of living in Goodyear 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 Goodyear cost of living index is 121, which is 21% 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.

If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Goodyear is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Goodyear falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs are a major factor in the Goodyear cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 63% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

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

Nobody knows their city better than the people who actually live there. So, we asked 11 local residents how they would rate the cost of living in Goodyear and this is how they responded. 27% of people said that the cost of living was affordable, with prices decreasing, while 73% of people said that the cost of living was very expensive and prices continue to rise.

Is Goodyear Affordable?

Wondering if Goodyear 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 Goodyear, for example, the median home price is 68.1% higher than what folks pay nationally, and monthly rent is 51.2% higher than the usual rates. Plus, income levels matter too, with Goodyear boasting a median household income of $85,217, which is 54% higher than the national average.

What Factors can Influence the Cost of Living in Goodyear?

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Goodyear, the baseline sales tax rate begins at 5.6%, and income tax rates start at 2.55%.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Goodyear, the housing index comes in at 63% higher than the national average.

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

Where is the Data From?

The cost of living in Goodyear, 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 Goodyear is 20% higher than the Arizona average
  • The cost of living in Goodyear is 21% higher than the national average
  • Goodyear housing is 63% higher 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 Goodyear

See all the best places to live around Goodyear

Compare Goodyear, 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$95,234$7,936$2,222$2,857
      Renters$60,823$5,069$1,419$1,825
      A good way to judge both the affordability of the housing and the cost of living in Goodyear is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Goodyear has a median income of about $95,234 for people who own homes. Based on that number, a maximum of $2,222 should be spent on expenses related to housing. Renters have a slightly different median income, which is $60,823. Based on this average, renters should spend no more than $1,419 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 Goodyear National avg. Difference
      Haircut $26.78$24.2610.4%
      Beauty Salon $54.44$45.5619.5%
      Toothpaste $3.44$3.707.0%
      Shampoo $1.39$1.288.3%
      Movie $9.96$12.1317.9%
      Bowling $15.56$18.0013.6%

      Groceries

      Item Goodyear National avg. Difference
      Ground Beef $6.08$5.844.1%
      Fried Chicken $1.47$1.576.6%
      Milk $4.91$4.675.1%
      Potatoes $4.66$4.935.6%
      Pizza $13.34$12.0910.4%
      Beer $11.24$10.417.9%

      Health Care

      Item Goodyear National avg. Difference
      Optometrist $102.06$125.6818.8%
      Doctor $93.86$135.7830.9%
      Dentist $100.07$113.2911.7%
      Ibuprofen $10.95$10.652.8%
      Lipitor $524.80$468.6012.0%

      Housing

      Item Goodyear National avg. Difference
      Home Price $310,500.00$184,700.0068.1%
      Avg. Mortgage Payment $3,647.01$2,346.6955.4%
      Apartment Rent $1,435.00$949.0051.2%

      Transportation

      Item Goodyear National avg. Difference
      Gasoline $3.66$3.465.9%
      Tire Balancing $61.78$59.923.1%

      Utilities

      Item Goodyear National avg. Difference
      All Electricity $147.32$193.9924.1%
      Phone $190.63$192.250.8%
      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.
      Santa Cruz, AZ57963.7%
      Goodyear Village, AZ2778613.9%
      Komatke, AZ8858911.0%
      Gila Crossing, AZ659945.6%
      Youngtown, AZ6,8371000.3%
      Goodyear, AZ83,51912120.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Fort Myers, FL83,50511110.6%
      Trenton, NJ83,387973.2%
      Mission, TX83,7968614.2%
      Troy, MI84,05111818.4%
      Merced, CA84,08111615.9%
      Goodyear, AZ83,51912120.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.