D+
25%
Overall NAT. AVG.
15%
Goods & Services NAT. AVG.
59%
Housing NAT. AVG.
Search Homes for Sale
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 Sun Lakes Arizona National
Cost of living125101100
Goods & Services115104100
Groceries103102100
Health care9894100
Housing15997100
Transportation124106100
Utilities9895100

An Overview of Cost of Living in Sun Lakes, AZ

The cost of living in Sun Lakes affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Sun Lakes is 125, which is 25% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in Sun Lakes is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Sun Lakes falls into this category, which may not be suitable for those seeking an economically favorable living environment.

When it comes to the cost of living in Sun Lakes, 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 58.8% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

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

Is Sun Lakes Affordable?

Is Sun Lakes 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 Sun Lakes, for instance, where the median home price falls 59.9% higher than the national average, and monthly rent rates are 56.3% higher than usual. Additionally, median income levels contribute to the equation, with Sun Lakes flaunting a median household income of $56,148, 1.5% higher than the national norm.

What Factors can Influence the Cost of Living in Sun Lakes?

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Sun Lakes, the utilities index is 1.6% lower than the national average.

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Sun Lakes, the transportation index is 23.9% higher than the national average.

Where is the Data From?

The Sun Lakes cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Sun Lakes is 24% higher than the Arizona average
  • The cost of living in Sun Lakes is 25% higher than the national average
  • Sun Lakes housing is 59% 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 Sun Lakes

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Compare Sun Lakes, 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$57,135$4,761$1,333$1,714
      Renters$48,564$4,047$1,133$1,457
      The affordability of the housing market in Sun Lakes, AZ as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Sun Lakes homeowners, the median income is $57,135. This indicates that a monthly maximum of $1,333 should be spent by homeowners on all housing related costs. Renters have a median income of $48,564. This indicates that renters would have a maximum of $1,133 for their rent related monthly 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 Sun Lakes 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 Sun Lakes 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 Sun Lakes 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 Sun Lakes National avg. Difference
      Home Price $295,400.00$184,700.0059.9%
      Avg. Mortgage Payment $2,990.52$2,346.6927.4%
      Apartment Rent $1,483.00$949.0056.3%

      Transportation

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

      Utilities

      Item Sun Lakes 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.
      Upper Santan Village, AZ56611110.6%
      Wet Camp Village, AZ11511110.6%
      Sacaton Flats Village, AZ48611110.6%
      Sweet Water Village, AZ11411110.6%
      Casa Blanca, AZ1,0099010.4%
      Sun Lakes, AZ14,88712525.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      High River, AB14,888n/a 
      Jackson, MO14,893946.1%
      Sunset, FL14,86913433.8%
      Ramsey, NJ14,91516059.7%
      St. Clair, ON14,919n/a 
      Sun Lakes, AZ14,88712525.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.