C-
15%
Overall NAT. AVG.
15%
Goods & Services NAT. AVG.
27%
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 Payson Arizona National
Cost of living115101100
Goods & Services115104100
Groceries103102100
Health care9894100
Housing12797100
Transportation124106100
Utilities9895100

An Overview of Cost of Living in Payson, AZ

Getting a feel for the cost of living in Payson 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 Payson is 115, which is 15% 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.

Housing costs are a very significant part of the Payson cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 26.9% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Everyday goods and services make up 33% of the cost of living index and include things like clothing, personal hygiene products and entertainment which are a large portion of your monthly expenditures. Unfortunately, Payson goods and services are 15% more expensive than the national average, leaving you with less money at the end of the month.

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

The most insightful perspective on a city comes from its residents. We recently surveyed 10 locals to gauge their perception of the cost of living in Payson. The feedback revealed that 50% of respondents found the cost of living to be reasonable, with prices on the decline, while 50% regarded it as notably expensive with prices that continue to rise.

Is Payson Affordable?

Wondering if Payson 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 Payson, for example, the median home price is 36.8% higher than what folks pay nationally, and monthly rent is 3.8% higher than the usual rates. Plus, income levels matter too, with Payson boasting a median household income of $55,303, which is 0% equal to the national average.

What Factors can Influence the Cost of Living in Payson?

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum 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 farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Payson, healthcare costs are 2.4% lower than the national average.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Payson, the groceries index registers 2.6% higher than the national average.

Where is the Data From?

The cost of living in Payson, 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 Payson is 15% higher than the Arizona average
  • The cost of living in Payson is 15% higher than the national average
  • Payson housing is 27% 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 Payson

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Compare Payson, 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$57,271$4,773$1,336$1,718
      Renters$50,386$4,199$1,176$1,512
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Payson, AZ, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Payson homeowners, is $57,271. This would allow for a maximum of $1,336 per month to be spent on housing costs. For renters, the median monthly income is $50,386 which would result in a maximum of $1,176 to be spent on rental costs.

      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 Payson 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 Payson 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 Payson 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 Payson National avg. Difference
      Home Price $252,700.00$184,700.0036.8%
      Avg. Mortgage Payment $2,990.52$2,346.6927.4%
      Apartment Rent $985.00$949.003.8%

      Transportation

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

      Utilities

      Item Payson 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.
      Geronimo Estates, AZ01087.6%
      Rye, AZ3111110.6%
      Oxbow Estates, AZ25111110.6%
      Star Valley, AZ1,4571087.6%
      Mead Ranch, AZ1341087.6%
      Payson, AZ15,70811515.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Warrington, FL15,7108811.8%
      Conyers, GA15,705964.4%
      Lady Lake, FL15,695946.5%
      Shively, KY15,7238910.8%
      Ocean Pointe, HI15,68819595.2%
      Payson, AZ15,70811515.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.