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Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
Moving to Phoenix is a financial step down — higher costs without proportional income gain.
Phoenix has a cost index of 104 vs 107 for Austin. Phoenix is 3 points cheaper overall. Monthly rent goes from $1,531 to $1,556 (+2%).
If you earn the Austin median of $91,461, you would need approximately $88,897/year in Phoenix to maintain equivalent purchasing power, based on the cost index difference of 3 points (3%).
Median rent in Austin is $1,531/month. In Phoenix it is $1,556/month — a difference of +$25 per month, or $300 per year.
Moving to Phoenix is a financial step down — higher costs without proportional income gain. The salary equivalent to maintain your current lifestyle is $88,897/year in Phoenix. The median income there is $77,041.
Estimated monthly essentials total $3,570 in Austin vs $3,523 in Phoenix — a difference of $47/month ($564/year).
The median home price in Phoenix is $407,665 vs $500,627 in Austin. With 20% down and a 6.5% rate, the estimated monthly mortgage payment is $2,061 in Phoenix vs $2,531 in Austin.