Two Arizona cities named among best places to live to save money, report finds
May 26, 2017, 4:56 AM | Updated: 9:36 pm
PHOENIX — Residents who live in these two Arizona cities can make a living without breaking the bank and save up for the future, a recent report found.
According to a report from GoBankingRates.com, Tucson and Phoenix are among the top ten cities in the nation for the best places to live to save money.
Tucson and Phoenix ranked eighth and 10th in the nation, respectively.
Even though Tucson also had the lowest median household income among all of the cities, at $37,149, the report found its low cost of living “makes it a little easier to stretch paychecks further.”
The city’s median home listing fell at $184,500, with a median monthly rent of $1,150, average gas price of $2.20 and average grocery costs of $258.31.
Phoenix also had its setbacks, notably having the highest sales tax of all the cities on the list at 8.6 percent, but its housing costs are “significantly lower” than other similar-sized cities, the report found.
Residents living in the Valley have a median income of $47,326 with a median home listing price of $255,000 and median monthly rent of $1,350.
The opportunity to live affordably in Phoenix is causing people to flock there, making the city the highest-performing in the nation and the city with the largest increase of people in the nation.
The city of Mesa barely made the top 10 cut, coming in at No. 12 on the report. Mesa has a median income of $48,809, with a median home listing of $243,000 and a median monthly rent of $1,325.
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