Prescott, AZ Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Prescott, AZ Summary

Cost of living in Prescott 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 Prescott 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 Prescott is 115, with 100 being the average.

  • The cost of living index in Prescott is 1.1x higher than the national average.

  • Prescott ranks as the #79 cheapest in Arizona out of 94.

  • Prescott ranks as the #4,492 cheapest out of 6,412 in the US.

  • The median home value in Prescott is $386,300.

  • The median income in Prescott is $61,090.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
115
Prescott's Overall Cost Of Living
1.1x
Higher Than The National Average

What is the cost of living in Prescott, AZ?

According to the most recent data on the cost of living, Prescott has an overall cost of living index of 115, which is 1.1x higher than the national index of 100.

Compared to Arizona, Prescott has a cost of living index that's 1.1x higher than Arizona's index of 107.

The standard of living in Prescott ranks as #79 most affordable out of the 94 places we measured in Arizona. By definition, that implies Prescott ranks as the #15 most expensive place in the Grand Canyon State.

For more reading on life in Prescott, check out:

79 out of 94
In Arizona
4,492 out of 6,412
In America

Prescott Cost Of Living Vs. Arizona

Six factors go into calculating the cost of living index in Prescott. Here is how it fairs on each of the criteria:

  • The Services index in Prescott is 108.

  • The Groceries index in Prescott is 99.

  • The Health index in Prescott is 98.

  • The Housing index in Prescott is 134.

  • The Transportation index in Prescott is 107.

  • The Utilities index in Prescott is 94.

Living Expense Prescott Arizona National Average
Overall 115 107 100
Services 108 102 100
Groceries 99 101 100
Health 98 94 100
Housing 134 121 100
Transportation 107 105 100
Utilities 94 97 100
For more reading on cost of living around Arizona, check out:
Prescott Cost of Living Vs. AZ

Prescott, 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 2017-2021. The key points are:

  • The Median Home Value in Prescott is $386,300.

  • The Median Rent in Prescott is $957.

  • The Median Income in Prescott is $61,090.

  • The Home Value To Income in Prescott is 6.3x.

  • The Rent To Monthly Income in Prescott is 0.19x.

Statistic Prescott Arizona United States
Median Home Value $386,300 $265,600 $244,900
Median Rent $957 $1,172 $1,163
Median Income $61,090 $65,913 $69,021
Home Value To Income 6.3x 4.0x 3.5x
Rent To Monthly Income 0.19x 0.21x 0.2x
Search Homes For Sale In Prescott, AZ
$386,300
Median Home Value
$957
Median Rent
$61,090
Median Income

Prescott, AZ Costs By Category

Detailed Prescott Services Costs Vs. Arizona

Item Prescott Arizona
Shampoo $1.06 $1.06
Movie $9.55 $10.68
Bowling $15.0 $14.67
Haircut $18.27 $18.62
Beauty Salon $37.5 $39.05

Detailed Prescott Groceries Costs Vs. Arizona

Item Prescott Arizona
Ground Beef $4.87 $4.22
Fried Chicken $1.39 $1.39
Milk $1.51 $2.05
Potatoes $2.5 $3.29
Pizza $11.66 $10.62
Beer $11.04 $9.38
Toothpaste $1.98 $2.34

Detailed Prescott Health Costs Vs. Arizona

Item Prescott Arizona
Optometrist $98.72 $108.57
Doctor $104.71 $116.17
Dentist $94.28 $99.13

Detailed Prescott Transportation Costs Vs. Arizona

Item Prescott Arizona
Gasoline $2.42 $2.22
Tire Balancing $49.7 $50.07

Detailed Prescott Utilities Costs Vs. Arizona

Item Prescott Arizona
All Electricity $156.13 $167.67
Phone $179.39 $175.64

Prescott SnackAbility

8
/10
Overall SnackAbility
Jobs
6/10
Housing
8.5
Affordability
6
Diversity
6
Safety
6
Amenities
8
Education
8.5
Commute
9.5

Cost Of Living In Cities Around Prescott

The cost of living varies in the cities and towns around Prescott. Here's a quick look at the cost of living in the most populous nearby places:

  • Prescott Valley, AZ has a cost of living index of 100, 0.9x Prescott.

  • Chino Valley, AZ has a cost of living index of 101, 0.9x Prescott.

  • Cottonwood, AZ has a cost of living index of 98, 0.9x Prescott.

City Population Cost Of Living Vs. Prescott
Prescott Valley, AZ 46,014 100 0.9x
Chino Valley, AZ 12,854 101 0.9x
Cottonwood, AZ 12,073 98 0.9x
Camp Verde, AZ 11,942 99 0.9x
Sedona, AZ 9,723 135 1.2x
Wickenburg, AZ 7,359 97 0.8x
Village of Oak Creek (Big Park), AZ 6,144 130 1.1x
Williamson, AZ 5,651 128 1.1x

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