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Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
Moving to Phoenix is roughly financially neutral — costs and incomes shift together.
Phoenix has a cost index of 104 vs 104 for Durham. Both cities have the same overall cost index. Monthly rent goes from $1,651 to $1,556 (-6%).
If you earn the Durham median of $79,234, you would need approximately $79,234/year in Phoenix to maintain equivalent purchasing power, based on the cost index difference of 0 points (0%).
Median rent in Durham is $1,651/month. In Phoenix it is $1,556/month — a difference of $95 per month, or $1,140 per year.
Moving to Phoenix is roughly financially neutral — costs and incomes shift together. The salary equivalent to maintain your current lifestyle is $79,234/year in Phoenix. The median income there is $77,041.
Estimated monthly essentials total $3,634 in Durham vs $3,523 in Phoenix — a difference of $111/month ($1,332/year).
The median home price in Phoenix is $407,665 vs $393,151 in Durham. With 20% down and a 6.5% rate, the estimated monthly mortgage payment is $2,061 in Phoenix vs $1,988 in Durham.