Loading
Assembling your view…
Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
Dollar for dollar, these cities represent some of the best deals in America. 2 out of 2 cities undercut the national cost index of 112. Leading the pack: Phoenix at index 104, where median rent of $1,556/month saves renters $4,068/year versus the national median.
Dollar for dollar, these cities represent some of the best deals in America. 2 out of 2 cities undercut the national cost index of 112. Leading the pack: Phoenix at index 104, where median rent of $1,556/month saves renters $4,068/year versus the national median.
Here's Phoenix by the numbers — and there's a lot to like (and a little to watch). Cost index: 104. Rent: $1,556/month. Income: $77,041/year. Home price: $407,665. Population: 1,650,070. The strongest category is Utilities at 95; the most expensive is Housing at 109. Translate that rent to annual numbers, and residents are saving renters $4,068 per year vs. the national median. That's the kind of affordability that turns 'maybe someday' into 'next month.'
Real talk: Below the radar, but not for long. A real contender.
Here's the asterisk: Nationally, the 288 cities in our database average a cost index of 112, rent of $1,895/month, and household income of $80,367. The cities in this ranking significantly outperform those benchmarks. Over a five-year window, that difference is life-changing.
Bottom line: Phoenix, AZ leads this ranking for clear, data-backed reasons — but the "best" city depends on your priorities. Click into any city below to see the full detail page with 12-month trend charts, profession-specific salary data, and a breakdown of all five cost categories. If you're seriously considering a move, use our salary calculator to model your specific income against these numbers.
#1 Ranked: Phoenix, AZ — cost index 104, rent $1,556/mo, income $77,041
2 of 2 cities come in below the national cost-of-living average of 112
Data sourced from Census Bureau, Zillow, BLS, and Tax Foundation — current as of 2026
| Rank | City | Cost Index | Median Rent | |
|---|---|---|---|---|
| 1 | PhoenixAZ | 104 | $1,556 | Details |
| 2 | Oklahoma CityOK | 89 | $1,255 | Details |
1,650,070 residents · Arizona
Here's Phoenix by the numbers — and there's a lot to like (and a little to watch). Cost index: 104. Rent: $1,556/month. Income: $77,041/year. Home price: $407,665. Population: 1,650,070. The strongest category is Utilities at 95; the most expensive is Housing at 109. Translate that rent to annual numbers, and residents are saving renters $4,068 per year vs. the national median. That's more or less in line with the region. That's a margin of safety most budgets don't have (not adjusted for inflation, but still telling).
702,767 residents · Oklahoma
The #2 spot goes to Oklahoma City, and the breakdown explains why. Renters here pay $1,255/month — saving renters $7,680 per year compared to the national average. Meanwhile, Housing is the standout at index 73, making it one of the cheapest in the country for that category. The weak spot? Healthcare at 92. At a 23% rent-to-income ratio, there's genuine breathing room in the average household budget.
Our cost of living index uses real Zillow rent data as the foundation, indexed to 100 (national median). Sub-categories (housing, food, transport, utilities, healthcare) are derived from the overall index with regional adjustments. Data is updated monthly.
Phoenix (ranked #1) has a cost index of 104 and rent of $1,556/mo, while Oklahoma City (ranked #2) has a cost index of 89 and rent of $1,255/mo — a 15-point difference in cost of living.
City data is refreshed monthly from Census Bureau population estimates, Zillow rent and home price indices, BLS salary data, and Tax Foundation tax rates. Last updated: 2026.
The median 1-bedroom rent in Phoenix is $1,556/month as of 2026, based on Zillow's Observed Rent Index. This is $339 below the national median of $1,895/month.
The median home price in Phoenix is $407,665, which is 5.3× the local median income. Most median-income households would stretch to buy at this ratio. The national median home price is $467,370.
This ranking was generated using data current as of early 2026. Population and income data comes from the Census Bureau's American Community Survey (5-year estimates). Rent and home price data is from Zillow's monthly releases. Tax rates are from the Tax Foundation's 2025 edition. Rankings are refreshed monthly.