Paradise Valley, AZ Cost Of Living
Cost Of Living In Paradise Valley, AZ Summary
Cost of living in Paradise Valley research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Paradise Valley is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Arizona, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Paradise Valley is 286, with 100 being the average.
The cost of living index in Paradise Valley is 2.9x higher than the national average.
Paradise Valley ranks as the #92 cheapest in Arizona out of 92.
Paradise Valley ranks as the #6,458 cheapest out of 6,489 in the US.
The median home value in Paradise Valley is $3,211,224.
The median income in Paradise Valley is $236,250.
Table Of Contents
Paradise Valley's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Paradise Valley, AZ?
According to the most recent data on the cost of living, Paradise Valley has an overall cost of living index of 286, which is 2.9x higher than the national index of 100.
Compared to Arizona, Paradise Valley has a cost of living index that's 2.8x higher than Arizona's index of 102.
The standard of living in Paradise Valley ranks as #92 most affordable out of the 92 places we measured in Arizona. By definition, that implies Paradise Valley ranks as the #0 most expensive place in the Grand Canyon State.
For more reading on life in Paradise Valley, check out:
In Arizona
In America
Paradise Valley Cost Of Living Vs. Arizona
Six factors go into calculating the cost of living index in Paradise Valley. Here is how it fairs on each of the criteria:
The Services index in Paradise Valley is 89.
The Groceries index in Paradise Valley is 102.
The Health index in Paradise Valley is 92.
The Housing index in Paradise Valley is 732.
The Transportation index in Paradise Valley is 101.
The Utilities index in Paradise Valley is 100.
| Living Expense | Paradise Valley | Arizona | National Average | |
|---|---|---|---|---|
| Overall | 286 | 102 | 100 | |
| Services | 89 | 102 | 100 | |
| Groceries | 102 | 103 | 100 | |
| Health | 92 | 95 | 100 | |
| Housing | 732 | 99 | 100 | |
| Transportation | 101 | 107 | 100 | |
| Utilities | 100 | 96 | 100 | |
Paradise Valley, AZ Housing Cost Breakdown
Housing swings affordability the most between places in Arizona, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Paradise Valley is $3,211,224.
The Median Rent in Paradise Valley is $3,501.
The Median Income in Paradise Valley is $236,250.
The Home Value To Income in Paradise Valley is 13.6x.
The Rent To Monthly Income in Paradise Valley is 0.18x.
| Statistic | Paradise Valley | Arizona | United States |
|---|---|---|---|
| Median Home Value | $3,211,224 | $422,479 | $303,400 |
| Median Rent | $3,501 | $1,431 | $1,348 |
| Median Income | $236,250 | $76,872 | $78,538 |
| Home Value To Income | 13.6x | 5.5x | 3.9x |
| Rent To Monthly Income | 0.18x | 0.22x | 0.21x |
Median Home Value
Median Rent
Median Income
Paradise Valley, AZ Costs By Category
Detailed Paradise Valley Services Costs Vs. Arizona
| Item | Paradise Valley | Arizona |
|---|---|---|
| Shampoo | $1.32 | $1.28 |
| Movie | $9.71 | $12.13 |
| Bowling | $21.97 | $18 |
| Haircut | $18.21 | $24.26 |
| Beauty Salon | $55.83 | $45.56 |
Detailed Paradise Valley Groceries Costs Vs. Arizona
| Item | Paradise Valley | Arizona |
|---|---|---|
| Ground Beef | $6.17 | $5.84 |
| Fried Chicken | $1.41 | $1.57 |
| Milk | $4.78 | $4.67 |
| Potatoes | $4.6 | $4.93 |
| Pizza | $12.12 | $12.09 |
| Beer | $11.51 | $10.41 |
| Toothpaste | $3.54 | $3.7 |
Detailed Paradise Valley Health Costs Vs. Arizona
| Item | Paradise Valley | Arizona |
|---|---|---|
| Optometrist | $107.63 | $125.68 |
| Doctor | $99.0 | $135.78 |
| Dentist | $120.5 | $113.29 |
Detailed Paradise Valley Transportation Costs Vs. Arizona
| Item | Paradise Valley | Arizona |
|---|---|---|
| Gasoline | $3.54 | $3.46 |
| Tire Balancing | $60.83 | $59.92 |
Detailed Paradise Valley Utilities Costs Vs. Arizona
| Item | Paradise Valley | Arizona |
|---|---|---|
| All Electricity | $193.93 | $193.99 |
| Phone | $186.48 | $192.25 |
Paradise Valley SnackAbility
/10
Cost Of Living In Cities Around Paradise Valley
The cost of living varies in the cities and towns around Paradise Valley. Here's a quick look at the cost of living in the most populous nearby places:
Phoenix, AZ has a cost of living index of 107, 0.4x Paradise Valley.
Mesa, AZ has a cost of living index of 116, 0.4x Paradise Valley.
Chandler, AZ has a cost of living index of 128, 0.4x Paradise Valley.
| City | Population | Cost Of Living | Vs. Paradise Valley |
|---|---|---|---|
| Phoenix, AZ | 1,624,832 | 107 | 0.4x |
| Mesa, AZ | 507,478 | 116 | 0.4x |
| Chandler, AZ | 278,123 | 128 | 0.4x |
| Glendale, AZ | 250,193 | 102 | 0.4x |
| Scottsdale, AZ | 242,169 | 136 | 0.5x |
| Tempe, AZ | 186,419 | 113 | 0.4x |
| Fountain Hills, AZ | 23,768 | 137 | 0.5x |
| Tolleson, AZ | 7,233 | 98 | 0.3x |
| Guadalupe, AZ | 5,293 | 92 | 0.3x |
| Cave Creek, AZ | 5,033 | 129 | 0.5x |
