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Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.
I'd much rather pay $500/mo in rent than $1,000. And I'd rather pay $2 for coffee than $5.
And while every neighbhorhood in Phoenix might be more expensive than living in rural Arizona, there are certain neighborhoods that are definitely cheaper.
So what exactly are those Phoenix neighborhoods where your dollar goes a little further -- you can get that one bedroom instead of the studio?
Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Phoenix are the cheapest.
The Cheapest Neighborhoods In Phoenix For 2022
What's the cheapest neighborhood to live in Phoenix for 2022? According to the most recent census data, New Village looks to be the cheaptest Phoenix neighborhood to live in.
At this point we should make it clear that you do get what you pay for -- some of these neighborhoods might not be the best places to live in Phoenix. You could be sacrificing location or crime rates in return for more space and cheaper groceries.
Read on to see how we determined the places around Phoenix that deserve a little bragging rights or maybe you're interested in the worst neighborhoods in Phoenix.
Once you're done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.
For more Arizona reading, check out:
- Best Places To Live In Arizona
- Cheapest Places To Live In Arizona
- Cheapest Cities To Live In America
- Cheapest States To Live In America
The 5 Cheapest Neighborhoods To Live In Phoenix For 2022
Cost Of Living Index: 93 (5th cheapest)
Home Value To Income Ratio: 1.8 (cheapest)
Rent To Income Ratio: 0.008 (cheapest)
More on New Village: Homes For Sale | Data
Cost Of Living Index: 89 (2nd cheapest)
Home Value To Income Ratio: 2.2 (2nd cheapest)
Rent To Income Ratio: 0.023 (13th cheapest)
More on Estrella: Homes For Sale | Data
Cost Of Living Index: 91 (4th cheapest)
Home Value To Income Ratio: 2.5 (4th cheapest)
Rent To Income Ratio: 0.02 (12th cheapest)
More on South Mountain: Homes For Sale | Data
Cost Of Living Index: 90 (3rd cheapest)
Home Value To Income Ratio: 2.3 (3rd cheapest)
Rent To Income Ratio: 0.027 (15th cheapest)
More on Maryvale: Homes For Sale | Data
Cost Of Living Index: 95 (8th cheapest)
Home Value To Income Ratio: 2.7 (6th cheapest)
Rent To Income Ratio: 0.017 (8th cheapest)
More on Deer Valley: Homes For Sale | Data
Methodology: How We Determined The Cheapest Phoenix Hoods In 2022
In order to rank the cheapest places to live in Phoenix, we had to determine what criteria defines "cheap".
Using census and extrapolated BLS data, we arrived at the following set of criteria:
- Overall Cost Of Living
- Rent To Income Ratio
- Median Home Value To Income Ratio
We then ranked each neighborhood with scores from 1 to 15 in each category, where 1 was the cheapest.
Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.
And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the "Cheapest City Neighborhood In Phoenix." We're lookin' at you, New Village.
Read on below to learn more about what it's like to live in the cheapest places Phoenix. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.
Summary: Lowest Cost Places To Live In Phoenix
If you're measuring the neighborhoods in Phoenix where prices are low and it's cheap to live, this is an accurate list.
As we mentioned earlier, the neighborhoods in Phoenix aren't all cheap. Camelback East takes the title of the most expensive neighborhood to live in Phoenix.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
For more Arizona reading, check out:
- Most Dangerous Cities In Arizona
- Richest Cities In Arizona
- Safest Places In Arizona
- Worst Places To Live In Arizona
Detailed List Of The Cheapest Neighborhoods To Live In Phoenix For 2022
|Rank||Neighborhood||Cost Of Living Index|