Warm, safe and inviting, Tempe, AZ, is also a very bike-friendly city. Situated in the Sonoran Desert, Tempe is close to Phoenix and is one of Arizona’s top cities. It’s great for families with highly-rated schools and a diverse population. There’s also plenty to do in Tempe, and the job market is excellent. If you’re moving to Tempe, AZ, someday soon, it’s likely you have questions about the cost of living. For example, what’s the median cost of a home? For answers to all your questions, please keep reading! Storage Solutions has everything you need to know about the cost of living in Tempe, Arizona.
Note: We’ll be using the US average for our cost of living indices today, which is 100. So, for example, a score of 80/100 would mean that a particular cost is 20% lower than the national average. A score of 120/100 would mean the cost is 20% higher. Got it? Great! Moving on.
The Overall Cost of Living in Tempe, Arizona
Slightly More Expensive, 108/100
Compared to many cities with the same population and amenities, Tempe, Arizona’s cost of living is reasonable. That being said, it is almost 10% higher than the national average, so it’s certainly not the cheapest city in America. It’s also not the cheapest city in Arizona, as the average cost of living in Arizona is 102/100. As we will see with our next cost of living index, housing is the main reason for Tempe’s higher overall score. However, 108/100 isn’t all that bad at the end of the day. (Especially when you compare it to cities like Los Angeles, New York, Dallas, or Miami.)
Housing Costs in Tempe, Arizona
More Expensive, 124/100
The highest cost index in Tempe, AZ, is housing, 124/100. Like the overall score, that’s not terrible but could be better. However, when you compare it to Arizona’s average housing score of 108/100, it looks a bit worse. Again, though, compared to many comparable cities with similar amenities, attractions, and perks, Tempe’s housing cost isn’t atrocious.
The Median Home Cost in Tempe, AZ, is $402,500
When you compare Tempe, Arizona’s median home cost to San Diego, CA, it looks downright affordable. Regrettably, our median home cost is about $50,000 higher than Arizona’s average and $110,000 higher than the US average. That’s what comes with a city that emphasizes making life more attractive for residents. For example, Tempe is a bikeable city with over 400 miles of bike trails, many going through the city. Urban projects like these cost money to create and maintain, which increased taxes. Higher taxes, generally speaking, lead to higher home costs. Still, many Tempe residents say they gladly pay a little extra to live in our splendid city.
The Cost of Groceries in Tempe
Slightly Less Expensive, 98/100
Putting nutritious food on your family’s table is essential no matter where you live. The good news in Tempe, AZ, is that it costs slightly less than average. You won’t save a fortune but saving 2% is certainly better than nothing, we think you’ll agree. Indeed, many Americans would go out of their way to save an extra 2% on groceries.
Healthcare Costs in Tempe, Arizona
More Affordable, 93/100
As America’s population grows older, Healthcare costs become more of a concern. You’ll save about 7% off the national average for healthcare in Tempe, which is great. Retired folks on a fixed income will certainly appreciate saving 7%. As will families with small children. (Both groups visit the doctor more often and spend more on healthcare annually.)
The Cost of Utilities in Tempe
About Average, 101/100
One utility you’ll use more in Tempe, AZ, is electricity. The reason why is simple; the often oppressive heat. When summer rolls around, your AC will be cranking! In fact, most of the year, you’ll be using the air conditioning. The good news? You won’t spend much money on heating because it rarely gets cold here.
Transportation Costs in Tempe, Arizona
Slightly More Expensive, 108/100
City planners did a fine job laying out Tempe’s streets, no doubt. Still, transportation costs are about 8% higher than the national average. That’s not terrible, but it’s not great news either. Gasoline, highway taxes, and car maintenance will cost a little more when you live here. Tempe’s commute time, though, is only 21 minutes one way. That’s about 6 minutes shorter than the national average, almost an hour less staring out your windshield each week.
The Cost of Miscellaneous Goods in Tempe, Arizona
Perfectly Average, 100/100
You’ll spend the same as the average American in Tempe when getting a haircut, manicure, or new clothes. That’s because our miscellaneous cost index is exactly average, 100/100. The thing is, you won’t find many cities where miscellaneous goods cost much less than average. Many cities are higher, though, something to keep in mind if you like buying electronics, going out to eat, or out clubbing.
Tempe, Arizona, is an Affordable, Inviting American City
While Tempe, Arizona, won’t win any awards for being the cheapest American city, it’s also not the most expensive. The lifestyle here is very attractive, the weather is excellent, and our outdoor living is superb. (And there’s no humidity!)
At Storage Solutions, we offer storage units in Tempe, Arizona, that are safe and clean. Like our city, they’re also affordable, and we put a high emphasis on security. Both of our self-storage locations in Tempe have 24/7 video monitoring and on-site managers.
Moving to Tempe, Arizona, sometime soon? If so, we recommend reserving a Tempe storage unit before you get here. One reason is that it will be ready for your household goods when your movers arrive. Another is that our storage units in Tempe, AZ, are much cheaper than storing with a moving company. Also, you can easily get to your stuff when it’s stored with us. (That’s something you can’t do if your things are in a giant warehouse.)
We hope you found the information you were looking for about Tempe, Arizona’s cost of living today. From everyone at Storage Solutions, we wish you the best of luck with your move. We’re sure that, once you arrive, you’ll be delighted you chose Tempe, Arizona, for your new home!