B
8%
Overall NAT. AVG.
12%
Goods & Services NAT. AVG.
17%
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 Verde Village Arizona National
Cost of living108101100
Goods & Services112104100
Groceries104102100
Health care8894100
Housing11797100
Transportation105106100
Utilities8595100

An Overview of Cost of Living in Verde Village, AZ

Are you thinking about relocating, but curious about the potential cost of living in Verde Village? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Verde Village stands at 108, making it 8% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

The cost of living in Verde Village 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. Verde Village 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.

Recurring essentials like haircuts, toothpaste, and entertainment, from movies to gym sessions, can really add up in your budget and make up 33% of the cost of living index. In Verde Village, you you will have to spend 12.3% more than average when compared to the typical prices for these items, making it a more expensive place to live.

Is Verde Village Affordable?

Is Verde Village 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 Verde Village, for instance, where the median home price falls 22.9% higher than the national average, and monthly rent rates are 4% higher than usual. Additionally, median income levels contribute to the equation, with Verde Village flaunting a median household income of $55,893, 1% higher than the national norm.

What Factors can Influence the Cost of Living in Verde Village?

Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Verde Village, the utilities index stands at 15% lower than the national average.

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Verde Village, the housing index is 17.2% higher than the national average.

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.

Where is the Data From?

The Verde Village cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates 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 Verde Village is 8% higher than the Arizona average
  • The cost of living in Verde Village is 8% higher than the national average
  • Verde Village housing is 17% 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 Verde Village

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Compare Verde Village, 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$61,071$5,089$1,425$1,832
      Renters$34,818$2,902$812$1,045
      A good way to judge both the affordability of the housing and the cost of living in Verde Village 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. Verde Village has a median income of about $61,071 for people who own homes. Based on that number, a maximum of $1,425 should be spent on expenses related to housing. Renters have a slightly different median income, which is $34,818. Based on this average, renters should spend no more than $812 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 Verde Village National avg. Difference
      Haircut $22.83$24.265.9%
      Beauty Salon $38.80$45.5614.8%
      Toothpaste $3.54$3.704.3%
      Shampoo $1.33$1.284.1%
      Movie $11.70$12.133.5%
      Bowling $26.78$18.0048.8%

      Groceries

      Item Verde Village National avg. Difference
      Ground Beef $5.21$5.8410.7%
      Fried Chicken $1.73$1.579.7%
      Milk $4.78$4.672.4%
      Potatoes $4.05$4.9317.9%
      Pizza $13.22$12.099.4%
      Beer $11.51$10.4110.6%

      Health Care

      Item Verde Village National avg. Difference
      Optometrist $83.94$125.6833.2%
      Doctor $96.11$135.7829.2%
      Dentist $104.95$113.297.4%
      Ibuprofen $11.06$10.653.8%
      Lipitor $472.82$468.600.9%

      Housing

      Item Verde Village National avg. Difference
      Home Price $227,000.00$184,700.0022.9%
      Avg. Mortgage Payment $2,137.30$2,346.698.9%
      Apartment Rent $987.00$949.004.0%

      Transportation

      Item Verde Village National avg. Difference
      Gasoline $3.58$3.463.4%
      Tire Balancing $45.24$59.9224.5%

      Utilities

      Item Verde Village National avg. Difference
      All Electricity $272.57$193.9940.5%
      Phone $184.69$192.253.9%
      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.
      Cottonwood CDP, AZ1868613.8%
      Cottonwood, AZ12,2281043.8%
      Camp Verde, AZ11,2411044.4%
      Lake Montezuma, AZ4,7071055.3%
      Dewey-Humboldt, AZ4,1231087.6%
      Verde Village, AZ12,7801088.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Riviera Beach, MD12,78012019.6%
      Mercerville, NJ12,78311918.6%
      Miller Place, NY12,77514039.7%
      McComb, MS12,7888317.4%
      Amos, QC12,770n/a 
      Verde Village, AZ12,7801088.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.