Oct

2025

SMB | JourneyHR

By Nicholas Wong | 1_Web_Lantern | Comments Off

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Oct

22

2025

Some First-Time Homebuyers Rely on the Bank of Mom and Dad

By Ben Kesslen | | Comments Off

This article appeared in SoFi's On the Money newsletter. Not getting it? Sign up here.

Have you ever wondered how a friend or coworker your age managed to buy a home while you’re struggling just to keep up with your bills? The answer might be The Bank of Mom and Dad.

Last year, one in four first-time homebuyers used a gift or loan from family or friends to make their down payment, according to data from the National Association of Realtors^Ⓡ (NAR). And in some pre-pandemic years, it was an even higher proportion — about one in three.

Between 6%+ mortgage rates, steep post-pandemic property prices, and few starter homes to choose from, buying your first house or apartment can feel prohibitively expensive. The typical (median) down payment in the third quarter of this year was over $30,000, well over double the $13,900 it was six years ago, according to Realtor.com data. First-time buyers accounted for just 24% of all buyers last year — a historic low (and about half of the peak of 50% reached in 2010,) according to NAR.

So what? There’s no denying that help with the down payment can give first-time buyers a way into this challenging real estate market. But it’s become less common, maybe because a one-time cash infusion doesn’t change that mortgage rates are more than double what they were in 2021. (The increase in rates alone adds over $600 to the typical monthly mortgage payment on a $400,000 home.)

If a cash gift or loan is not an option for you, don’t lose hope. Here are some reasons to feel more positive as a prospective first-time buyer:

• It’s becoming more of a buyer’s market. Homes are sitting on the market for longer, sellers are cutting prices and adding concessions in many parts of the country, and the average 30-year mortgage rate is 6.27%, just about the lowest it’s been in a year.

• First-time buyers who don’t have help from their parents still buy homes eventually, according to a recent study by a Federal Reserve economist who examined data from 2009 and 2021. They are just around 2.5 years older than those who do, the economist found.

• If cash help isn’t in the cards, there are other ways you might be able to get help from your family: About 18% of Gen Zers and millennials surveyed by Redfin in May said they lived with family or friends in order to save money for their down payment.

• The Trump administration is reportedly weighing new measures to help tackle the high cost of homeownership.

• You don’t have to put 20% down. In 2024, the median down payment for first-time buyers was just 9%, NAR data shows.

Fewer Teens Are Working — and Could Be Missing Out

By Lora Shinn | | Comments Off

This article appeared in SoFi's On the Money newsletter. Not getting it? Sign up here.

Twenty-five years ago, a good 50% of 16-to-19-year-olds had some kind of job. Now it’s more like 35%, according to government data.

There are plenty of theories about why teenage jobs are less common, including that there are more demands on today’s teens and that more entry-level jobs are being filled by adults in states with $20-plus minimum wages.

But is something important being lost when young people don’t work?

In addition to a paycheck, a part-time gig at the local ice cream shop or convenience store can offer invaluable life lessons about managing money, communicating professionally, and being resourceful. And research has found that high school seniors who worked part-time ended up earning more than those who didn’t once they graduated.

If you have a teenager in the family and they’ve never had a job, it’s worth at least considering. While many have their hands full with schoolwork, extracurricular activities, and today’s intense college application process, working can give them a leg up in other ways. Here’s more on the benefits, the tradeoffs, and how you can help your teen find a job if they want one.

The pros and cons of working as a teen

“Adulting” can be a hard adjustment. When teenagers have a job, they’re able to flex adulting muscles before they’re full-fledged adults, learning how to serve customers, be diplomatic with co-workers, communicate with strangers, and manage their time. These “soft skills” are often what employers notice first in interviews, and they can give young people confidence that they can make it in the “real world.”

Working for a paycheck also helps teach teens the value of a dollar. It can help them foster good financial habits like saving, opening a checking account, and creating a budget. Plus, making mistakes as a teen employee can be easier than when you’re an adult in a full-time position. And as an unofficial career coach, you can help your teen develop resilience to tough days, seasonal layoffs, or just not being hired.

A potential bonus perk of working as a teen? Employee discounts can stretch a high-school clothing or food budget further.

Of course, a part-time job may not be feasible with your teen’s schedule, particularly if it doesn’t leave enough time for their schoolwork. Or it may be a matter of limiting how much time they devote to a job: Past research found that teens working 20+ hours a week had worse academic performance, and a job that requires neglecting volunteer work or a social life probably doesn’t make sense.

Helping your teen find a job

If you and your teen decide some part-time work makes sense, here are some basic steps (and inspiration):

Talk it over. Begin by discussing your teen’s goals, interests, and availability. Is it the paycheck or the job experience? What industry are they interested in learning more about? Do they want to practice their customer service and people skills, or are they more passionate about working with pets? Do they want to work on their feet, or would they prefer a more stationary job? Motivated teens can even start their own side hustles, such as lawn mowing, tutoring, or babysitting. Entrepreneurship skills are always a plus. Ideally, the job they choose will be something they can learn from and enjoy.

Cast your net. Work with your teen to compile a list of job possibilities, including teen-friendly clothing retailers and movie theaters. Do they have a favorite restaurant, bookstore, or cafe that they would love to be more than a customer at? Instead of paying to go to the bowling alley, would they consider working there? Alternatively, check with your school’s career center for lists of teen-friendly employers and paid internships.

Paperwork prep. Have your teen create a resume (including paid work, volunteer experience, and school achievements), and help them polish it. When they start applying to full-time roles after graduation, they’ll be glad they already have a resume to work from. Gathering references can also be helpful. Your teen may need help filling out their job application and W-2 forms, as well as understanding how a paycheck divides up wages. Prep your short, fascinating speech on Social Security now. (Here’s a cheat sheet.)

Get out there. Encourage your teen to walk into businesses and drop off resumes. They may resist — in-person applications can feel more intimidating — but the old-fashioned approach can help them stand out, especially at places that regularly hire for entry-level jobs. Help your teen practice a brief, confident introduction to managers and assemble an outfit that says, “Hire me. (Please).” Once they land an interview, help them prep by role-playing common questions.

Be there for them. As your teen goes through the job-hunting process and starts working for the first time, be a sounding board and source of moral support. This will help them build resilience to common situations like getting passed over for a role or dealing with unpleasant colleagues. And these early experiences can put them ahead of the pack when they start their careers.

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

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Oct

21

2025

Cost of Living in Alaska

By Dana Jennings Jelter | Uncategorized | Comments Off

Cost of Living in Alaska

One perk to help outweigh those challenges is the Permanent Fund Dividend program, which provides an annual dividend from investment earnings of mineral royalties to Alaska residents. In 2024, the dividend amount was $1,702. Not bad if you’re considering a move to the Last Frontier. Whether or not that dividend is enough to make up for the Alaska cost of living is another story.

So how much does it cost to live in Alaska? Keep reading to find out.

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What’s the Average Cost of Living in Alaska?

Average Cost of Living in Alaska: $62,900 per year

Tighten up your monthly budget if you have your heart set on moving to Alaska. Data gathered by MERIC ranked Alaska as the state with the fifth highest cost of living. (Hawaii had the highest cost of living in the whole country.) To put a number on it, the average total personal consumption cost in Alaska is $62,900 per year, according to the latest data from the Bureau of Economic Analysis. Here’s how that spending breaks down.

Category	Average Annual Per-Capita Cost in Alaska
Housing and Utilities	$9,146
Health Care	$13,015
Food and Beverages (nonrestaurant)	$4,798
Gasoline and Energy Goods	$1,037
All Other Personal Expenditures	$39,904

Housing Costs in Alaska

Average Housing Costs in Alaska: $921 to $2,198 per month

Housing doesn’t come cheap in Alaska. The average home value in the state was $368,985 in February 2025, Zillow reported. That is comparable with $357,138, the average home value for all housing types in the U.S. that month, according to Zillow.

You won’t have many neighbors wherever you end up living in Alaska, as the population estimate is just 740,133, according to the most recent U.S. Census Bureau data available.

Here’s what housing looks like monthly, per census data:

• Median monthly mortgage cost: $2,192

• Median studio rent: $921

• Median one-bedroom rent: $1,094

• Median two-bedroom rent: $1,439

• Median three-bedroom rent: $1,746

• Median four-bedroom rent: $2,198

• Median gross rent: $1,373

How much you’ll spend to live in Alaska will vary based on your specific location. These are the typical home values for major Alaska cities, from lowest to highest, according to Zillow in February 2025.

Alaska City	Average Home Value
Fairbanks	$286,960
Anchorage	$387,882
Ketchikan	$389,311
Juneau	$483,940

Utility Costs in Alaska

Average Utility Costs in Alaska: $516 per month

No matter where you live, you’ll need to have some room in your monthly budget to cover utility costs. Here’s what you can expect to spend in Alaska on a monthly basis.

Utility	Average Alaska Bill
Electricity	$138
Natural Gas	$164
Cable & Internet	$125
Water	$89

Sources: U.S. Energy Information Administration, Electric Sales, Revenue, and Average Price; Statista.com, “Average monthly residential utility costs in the United States, by state”; DoxoInsights, U.S. Cable & Internet Market Size and Household Spending Report; and Rentcafe.com, What Is the Average Water Bill?

Groceries & Food

Average Grocery & Food Costs in Alaska: $400 per person, per month

If you really want to nail down your budget before you decide to make a move, it can help to get an idea of how much you’ll spend on food in Alaska.

As noted earlier, the Bureau of Economic Analysis estimates the average annual food cost per person to be $4,798, which equates to about $400 per person, per month. A family of four can expect to spend $1,600 a month on food, although children usually eat less, and appetites vary.

Because the specific area of Alaska you live in can affect food costs, let’s examine the Council for Community and Economic Research’s rankings for the food costs in major Alaska cities. The following rankings represent grocery costs, from lowest to highest.

Alaska City	Grocery Items Index
Anchorage	126.5
Fairbanks	126.8
Juneau	128.3

Transportation

Average Transportation Costs in Alaska: $11,609 to $21,603 per year

Whether it’s commuting to work or schlepping your child to snowboarding, you’ve gotta get around. The specific transportation costs you’ll incur depend on how many adults and children are in your family, and how many of the adults are working — but here’s a basic breakdown, according to the most recent data from MIT’s Living Wage Calculator.

Family Makeup	Average Annual Transportation Cost
One adult, no children	$11,609
Two working adults, no children	$13,435
Two working adults, three children	$21,603

Health Care

Average Health Care Costs in Alaska: $13,015 per person, per year

The average annual per-capita cost of health care in Alaska is $13,015, according to the most recent Bureau of Economic Analysis Personal Consumption Expenditures by State report.

How much you will really end up spending depends on the type of coverage you have that year, your specific health care needs, and more.

Child Care

Average Child Care Costs in Alaska: $906 to $1,442 or more per child, per month

What you’ll spend on child care each month will greatly depend on how many children you have, what type of child care you choose, and where you live. In Alaska, it’s cheaper to choose home-based child care, whether you have infants or toddlers.

To learn more about how to obtain child care assistance for covering the costs of early childhood education, go to ChildCare.gov for resources you may find helpful.

This is what the average child care costs in Alaska, per the most recent data from CostofChildCare.org.

Type of Child Care	Average Cost Per Month, Per Child
Infant Classroom	$1,442
Toddler Classroom	$1,299
Preschooler Classroom	$1,013
Home-Based Family Child Care	$906

Taxes

Highest Marginal Tax Rate in Alaska: None

While residents of all states have to pay federal income tax, of course, Alaskans are off the hook when it comes to state income tax, as noted by the Tax Foundation’s State Individual Income Tax Rates and Brackets.

Other states that don’t charge state income tax are Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, and Wyoming. The state of Washington also has no income tax, but does charge a capital gains tax on income of high-earning individuals. If you’re hoping to avoid a big bill come tax season, maybe a move to one of these states will ease your burden.

Miscellaneous Costs

Now that we’ve chatted about all of the necessary expenses you’ll encounter while living in Alaska, let’s look at some more exciting costs.

If the average Alaskan spends $34,904 a year on personal expenditures, where’s all that money going? Here’s a few potential places they’re spending on fun activities (costs are accurate as of March 2025):

• Tickets to H2Oasis water park in Anchorage: $29.99 for anyone 13 and older, and $24.99 for kids 3 to 12.

• The individual entrance fee to Denali National Park is $15 and good for seven days, or you can spend $45 on an annual pass that admits four adults for the year.

• Tickets to the Alaska Zoo in Anchorage: $25 (nonresident adult, 16 and older) or $18 for an Alaska resident adult with state ID.

• See the northern lights (aka the aurora borealis) if you time it right: Free. Or splurge on an all-inclusive wilderness lodge on Iniakuk Lake (about 200 miles north of Fairbanks) for 3-5 nights. Prices start at $9,895 per person.

• A jug of Alaska wild-harvested birch syrup collected in the spring: $19.95 for 3.4 oz. from Kahiltna Birchworks

Of course, if you’re looking for a free activity, there are tons of great hiking, boating, and exploring opportunities in Alaska.

How Much Money Do You Need to Live Comfortably in Alaska?

What it means to live comfortably will vary from person to person. Your family size, lifestyle choices, and other factors can affect how accessible a comfortable style of living is. Location also plays a role.

With that in mind, it’s worth noting that Alaska is considered to be one of the least affordable places to live in the United States. According to U.S. News & World Report’s Affordability Rankings, Alaska is the fifth least affordable state to live in.

That report measures the average cost of living in a given state against the average amount of money most households have. The low ranking isn’t much of a surprise, as the most recent MERIC data ranked Alaska as the state with the fifth highest cost of living.

What City Has the Lowest Cost of Living in Alaska?

As you’ve seen, living in Alaska can cost a pretty penny. Let’s take a closer look at the three major Alaska cities with the lowest cost of living, according to the Council for Community and Economic Research’s Cost of Living Index.

Fairbanks

While Fairbanks is the most affordable city to live in Alaska (cost-of-living index of 121.4), it’s a fairly small city located near the center of the state about 140 miles south of the Arctic Circle. Fairbanks city was home to 31,856 residents, recent estimated census data shows. With loads of natural history, you can visit hot springs, an ice cave, and even meet and greet local reindeer — all in the same day\!

Anchorage

The major Alaskan city with the second-lowest cost-of-living index (122.8) is the famous city of Anchorage. Known for outdoor activities such as hiking, canoeing, and biking, it’s located along the southern coast of Alaska with a robust seaport. It boasted 286,075 residents by last census estimates. Anchorage is home to the Alaska Native Heritage Center as well as the start of the Parks highway, which connects the city to Denali National Park. The city also has plenty of arts and entertainment opportunities as well.

Juneau

Juneau came in third in the C2ER data, with a composite cost-of-living score of 127.2. You’ll note that all three major Alaskan cities are well above the national average in terms of cost. Juneau is the furthest south city in this list, located along the southern shores of the state, along the western coast of Canada. Only an estimated 31,555 people live in Juneau. You can use the city as a great jumping off point to trek to glaciers, go whale watching, or go salmon fishing.

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Making a move to Alaska will be quite the lifestyle change for many but also the adventure of a lifetime. The cost of living in Alaska tends to be high, but the Last Frontier speaks to hardy souls.

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FAQ

Is living in Alaska expensive?

Alaska is one of the most expensive U.S. states to live in, ranking near the top of both U.S. News and World Report affordability rankings and the most recent MERIC scores for cost of living. It doesn’t have an income tax for residents, and does offer jobs that can pay well, but you’ll spend a lot on housing, food, and other costs to live in Alaska. According to data from the Economic Research Institute, Alaska is 26% more expensive to live in than the national average.

How much do you need to make to live comfortably in Alaska?

A comfortable living is relative, but in Alaska, you’ll need to bring in a larger income than many other states, on average. The MIT Living Wage Calculator notes a living wage in Alaska for a single adult with no children is $24.11 per hour, or $50,149 per year. The latest data from the Bureau of Economic Affairs estimates that the average person in the state needs to spend $62,900 just to pay for the average costs of housing, health care, food, energy costs, and other personal expenses, which requires a higher salary.

Is it cheaper to live in Fairbanks or Anchorage?

Fairbanks does rank as a cheaper place to live when compared to Anchorage, per data from the Council for Community and Economic Research, but only slightly. Both cities rank as far above national averages. Fairbanks home values are nearly $100,000 less than those in Anchorage, but their grocery average costs are about the same.

Photo credit: iStock/Jacob Boomsma

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SOHL-Q125-153

Oct

21

2025

Cost of Living in Arizona

By Dana Jennings Jelter | mortgage | Comments Off

Cost of Living in Arizona

What’s the Average Cost of Living in Arizona?

Average Cost of Living in Arizona: $53,921 per year

It turns out that living in Arizona may put a significant dent in your monthly budget.

Arizona ranks 37th when it comes to which states have the lowest cost of living, according to MERIC’s 2024 Cost of Living Index . If you’re looking to move to the Southwest, New Mexico is a much more affordable option. In the same ranking, New Mexico was found to have the 19th lowest cost of living.

So how much does coming in 37th place cost Arizona residents? According to 2023 data from the Bureau of Economic Analysis, the average total personal consumption cost in Arizona is $53,921 per year. Here’s how that total cost breaks down:

Category	Average Annual Per-Capita Cost in Arizona
Housing and Utilities	$10,961
Health Care	$7,943
Food and Beverages (nonrestaurant)	$3,923
Gasoline and Energy Goods	$1,346
All Other Personal Expenditures	$29,749

Housing Costs in Arizona

Average Housing Costs in Arizona: $1,206 to $2,676 per month

With more than 3.2 million housing units in Arizona, according to census data, you should have no trouble finding a home in Arizona, as long as the housing prices are within your budget. The typical home value in Arizona in June 2024 was $426,947, according to Zillow.

How much you’ll spend on housing each month will vary depending on if you rent or buy. Here’s what you can expect to spend, according to the latest census data.

• Median monthly mortgage cost: $1,739

• Median studio rent: $1,206

• Median one-bedroom rent: $1,345

• Median two-bedroom rent: $1,623

• Median three-bedroom rent: $1,860

• Median four-bedroom rent: $2,156

• Median five-bedroom (or more) rent: $2,676

• Median gross rent: $1,608

Where you want to live in Arizona can play a big role in how much it costs to buy a home. Here are typical home values for some major Arizona cities, according to Zillow, as of December 2024.

Arizona City	Typical Home Price
Phoenix	$452,778
Tucson	$344,460
Yuma	$276,716
Lake Havasu City	$352,460
Flagstaff	$621,579
Sierra Vista	$250,693
Show Low	$381,871
Payson	$374,540
Nogales	$266,223
Safford	$277,152

Utility Costs in Arizona

Average Utility Costs in Arizona: $390 per month

Even once you own a home and pay it off fully, you’ll still need to pay for utilities every month. Here’s what the average monthly utility bill expenses look like in Arizona.

Utility	Average Arizona Bill
Electricity	$148
Natural Gas	$82
Cable & Internet	$110
Water	$50

Sources: U.S. Energy Information Administration, Electric Sales, Revenue, and Average Price; Statista.com “Average monthly residential utility costs in the United States, by state”; DoxoInsights, U.S. Cable & Internet Market Size and Household Spending Report; and Rentcafe.com, What Is the Average Water Bill?

Groceries & Food

Average Grocery & Food Costs in Arizona: $327 per person, per month

Food is a major ongoing expense no matter where you live, but how much should you plan to spend on food per month in Arizona?

As previously noted, the Bureau of Economic Analysis found Arizona’s average annual (nonrestaurant) food cost per capita to be $3,923, which breaks down to about $327 per person, per month. That said, where you live in Arizona can play a role in how much food costs you.

According to the Council for Community and Economic Research, which ranks food expenses in major American cities, these are the rankings for Arizona cities’ grocery costs as of 2024.

Arizona City	Grocery Items Index
Bullhead City	98.5
Surprise	103.7
Phoenix	102.8
Lake Havasu City	98.9
Flagstaff	100.9

Transportation

Average Transportation Costs in Arizona: $9,783 to $18,205 per year

Getting from place to place can add up, especially if you have two commuting adults or children in your family.

The following 2024 data from MIT’s Living Wage Calculator can give you an idea of how much you’ll spend on transportation in Arizona, depending on your family structure.

Family Makeup	Average Annual Transportation Cost
One adult, no children	$9,783
Two working adults, no children	$11,322
Two working adults, three children	$18,205

Health Care

Average Health Care Costs in Arizona: $7,943 per person, per year

According to the Bureau of Economic Analysis Personal Consumption Expenditures by State report, the average annual per-capita cost of health care in Arizona is $7,943.

It’s worth noting that how much you’ll spend on health care can vary greatly depending on your specific health care needs and what type of coverage you have.

Child Care

Average Child Care Costs in Arizona: $787 to $1,283 per child, per month

No matter what your family’s financial situation is, child care is likely to be a large expense for you, especially during the early years of your child’s life. How much you’ll spend each month can depend on your child’s age.

For example, in Arizona you’ll spend an average of $1,283 a month on care in an infant classroom but $787 a month for care in a preschooler classroom.

For assistance covering these expenses, the Arizona Department of Economic Security offers child care assistance for working low-income families, teen parents attending high school or GED classes, domestic violence or homeless shelter residents, and parents who can’t care for their children because of emotional or physical conditions.

According to data from CostofChildCare.org, these are the average monthly child care costs by type of care:

Type of Child Care	Average Cost Per Month, Per Child
Infant Classroom	$1,283
Toddler Classroom	$981
Preschooler Classroom	$787
Home-Based Family Child Care	$1,080

Taxes

Highest Marginal Tax Rate in Arizona: 2.5%

Arizona charges residents a flat state income tax of 2.5%.

According to the Tax Foundation’s State Individual Income Tax Rates and Brackets for 2025, Arizona’s 2.5% flat tax is one of the lowest in the region, with neighbor New Mexico charging a top rate of 5.9% and Utah to the north a 4.55% top rate. But it’s nowhere near California’s graduated-rate income tax rate, which tops out at 13.3%.

Miscellaneous Costs

Once you’re done funding all of your necessities, it’s time to have some fun. The Bureau of Economic Analysis found that the average Arizonan can expect $29,749 in personal expenditures a year.

Let’s look at where some of that spending might go (costs are accurate as of March 2025:

• A visit to Bearizona Wildlife Park, in Williams, to check out the bears: $20 to $35 depending on age and if you go during the week or on the weekend. Children 3 and under can enter for free.

• An adrenaline-pumping Pink Jeep Tour in Sedona: As much as $1,970 if you book a private tour.

• Entrance to Grand Canyon National Park for the whole family: $35 per private vehicle.

• A legendary Arizona meal, the Sonoran hot dog began as a street food staple and has grown to an iconic Arizonan foodie favorite. Order one at El Guero Canelo in Tucson for $4.

If you want to save on a trip to the Grand Canyon, there are a handful of entrance fee-free days throughout the year.

How Much Money Do You Need to Live Comfortably in Arizona?

We all have our own idea of what it means to live comfortably, but most of us share a general set of living standards we hope to afford. Arizona is not one of the more affordable states to live in.

U.S. News & World Report’s Affordability Rankings found Arizona to be the 36th most affordable state. That ranking measures the average cost of living in each state against the average amount of money most households in that state have.

The MERIC ranking found Arizona slightly less affordable — 37th for states with the lowest cost of living. (West Virginia had the lowest; Hawaii, the highest on that list.)

What City Has the Lowest Cost of Living in Arizona?

To make it easier to obtain a comfortable lifestyle in Arizona, let’s get to know the three major Arizona cities with the lowest cost of living, according to the Council for Community and Economic Research’s Cost of Living Index for 2024.

Bullhead City

A cost-of-living ranking of 92.8 snagged Bullhead City the top spot on the council’s index for Arizona. Bullhead City lies on the east bank of the Colorado River and spans 57.2 square miles of land near the southernmost tip of Nevada. Residents get to enjoy an array of watersports on the river, as well as historical opportunities at the Colorado River Museum and the nearby ancient petroglyphs at Grapevine Canyon near Laughlin, Nevada.

Surprise

With just over 158,285 residents (according to the most recent census data), residents of Surprise enjoy outdoor sports, like spring training baseball games for the Kansas City Royals and Texas Rangers, or indoors activities like racquet sports at the largest tennis complex in the Southwest. Surprise is actually on the northwest border of Phoenix, but offers a lower housing cost than the capital and a lower overall cost-of-living index score of 102.9, making it easier on your wallet, but still close to the hustle and bustle.

Phoenix

The state’s capital, Phoenix is still affordable with the third lowest cost-of-living index score at 106.3. This city boasts art museums, desert adventures, and even historical and architectural treasures like Frank Lloyd Wright’s winter home, Taliesin West. There are over 1.6 million people living in Phoenix, as of census data estimates, and you might find them playing golf at one of nearly 200 golf courses in the city or nearby.

SoFi Home Loans

The cost of living in Arizona isn’t low, but if the land of cacti and coyotes speaks to you, you may be on the hunt for an Arizona home and a home loan.

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Cost of Living in Alaska

Cost of Living in Alaska

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What’s the Average Cost of Living in Alaska?

Average Cost of Living in Alaska: $62,900 per year

Housing Costs in Alaska

Utility Costs in Alaska

Groceries & Food

Transportation

Health Care

Child Care

Taxes

Miscellaneous Costs

How Much Money Do You Need to Live Comfortably in Alaska?

What City Has the Lowest Cost of Living in Alaska?

Fairbanks

Anchorage

Juneau

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FAQ

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Cost of Living in Arizona

Cost of Living in Arizona

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What’s the Average Cost of Living in Arizona?

Average Cost of Living in Arizona: $53,921 per year

Housing Costs in Arizona

Utility Costs in Arizona

Groceries & Food

Transportation

Health Care

Child Care

Taxes

Miscellaneous Costs

How Much Money Do You Need to Live Comfortably in Arizona?

What City Has the Lowest Cost of Living in Arizona?

Bullhead City

Surprise

Phoenix

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Tips and news—
for your financial moves.

Easily find small business financing
in three steps.

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real estate agent and earn up to
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