Cost of Living in Prescott, AZ
Population 46,744 · Arizona · Data vintage 2023
(100 = US avg)
With a median age of 60, Prescott functions largely as a retirement market. Housing costs — $529,000 for a typical home — anchor most household budgets, and the state's treatment of pension income tends to matter more than wage-driven tax comparisons.
Geographically, Prescott is about 55 miles north of Peoria, the nearest large metro. Median home values run roughly 23% higher than Peoria's $429,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Prescott
The median home value in Prescott is $528,500 — 73% above the national median of $305,000. Median rent runs $1,304/month, 1% lower than the national median of $1,314/month. The median household income of $69,151/year is 7% lower than the US median of $74,580. The local unemployment rate is 4.6%, below the national average of 4.8%. Arizona's top state income tax rate is 2.5% and the combined sales tax is 8.4%. Overall, Prescott has a cost of living index of 144 versus the US average of 100, meaning it is 44% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Prescott, AZ?
Prescott has a cost index of 144 (100 = national average). It is 44% above the national average.
What is average rent in Prescott, AZ?
The median gross rent in Prescott is $1,304 per month based on 2023 Census data.
What is the average home price in Prescott?
The median home value in Prescott is $528,500 according to Zillow and Census data.
What is the median income in Prescott?
The median household income in Prescott is $69,151 per year (2023 ACS 5-year estimates).
What is the sales tax in Prescott, AZ?
The combined state and local sales tax rate in Prescott is 8.4%. The Arizona state income tax top rate is 2.5%.
Is Prescott, AZ affordable?
Prescott is above average in cost of living, with an index of 144 — about 44% higher than the national average.
Prescott at a Glance
- Population
- 46,744
- Median Income
- $69,151
- Home Value
- $528,500
- Median Rent
- $1,304/mo
- Unemployment
- 4.6%
- Sales Tax
- 8.4%
Nearby Cities
Explore county-level cost of living data
Arizona Rankings
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