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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 105 for Raleigh. Phoenix is 1 points cheaper overall. Monthly rent goes from $1,567 to $1,556 (-1%).
If you earn the Raleigh median of $82,424, you would need approximately $81,639/year in Phoenix to maintain equivalent purchasing power, based on the cost index difference of 1 points (1%).
Median rent in Raleigh is $1,567/month. In Phoenix it is $1,556/month — a difference of $11 per month, or $132 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 $81,639/year in Phoenix. The median income there is $77,041.
Estimated monthly essentials total $3,561 in Raleigh vs $3,523 in Phoenix — a difference of $38/month ($456/year).
The median home price in Phoenix is $407,665 vs $428,831 in Raleigh. With 20% down and a 6.5% rate, the estimated monthly mortgage payment is $2,061 in Phoenix vs $2,168 in Raleigh.