10 cheapest places to live in Arizona (New 2024)
Key takeaways
Arizona, known for its desert, warm climate, cacti, and the Grand Canyon, is also a haven for those seeking a more affordable, low cost amount of living without sacrificing quality of life. The cheapest places to live in Arizona don't have to be unlivable. With a diverse range of cities and towns, the state offers a blend of urban conveniences, suburban tranquility, and rural charm. It's a place where the old west meets the new, with a growing tech sector and booming real estate market amid picturesque landscapes and historical landmarks.
Investing in the real estate market in these most affordable city cities could be a wise decision as the demand for budget-friendly housing continues to grow. As the cost of living continues to rise in other parts largest cities of the country, lets take a look at the most affordable cities in Arizona.
1. Douglas
Douglas, Arizona, is a serene and charming community nestled on the border between the United States and Mexico. Known for its calm, quiet living, and rich history, Douglas provides a quaint yet vibrant setting for residents. It's an area that has seen significant growth over the years, yet remains one of the most affordable places to live in the state of Arizona.
Median Home Price: $208K
Trending: Strong Upward (59.6% increase since last year)
Our Take
The housing market in Douglas is currently on a strong upward trend, with the median home price standing at $208,000, which is a significant increase of 59.6% compared to the previous year. This notable rise in home prices indicates a growing demand in the Douglas real estate market, which could be driven by several factors including its affordability, cultural richness due to its proximity to the Mexican border, and the calm, serene living environment it offers.
Investing in a market on the upward trend generally means that the value of the property will continue to appreciate over time. The significant jump in home prices within a year suggests that the demand is high and the market is ripe for investment. Moreover, the relatively low median home price compared to many other areas in Arizona makes Douglas a very enticing option for both first-time homebuyers and real estate investors looking for affordable options. Douglas has some great golf courses as well!
2. Bullhead City
Bullhead City is a captivating locale situated along the Colorado River, boasting a variety of recreational opportunities like fishing, boating, and hiking among local attractions, making it a haven for outdoor enthusiasts.
Median Home Price: $378K
Trending: Upward (25.8% increase since last year)
Our Take
The real estate market in Bullhead City is on an upward trajectory, with the median home price increasing by 25.8% over the last year, reaching $378,000. This upward trend signals a burgeoning demand, likely driven by the city's scenic beauty, recreational opportunities, and its proximity to Laughlin's entertainment venues. Bullhead City's real estate market is somewhat competitive, which is a healthy indicator of demand and potential for investment appreciation.
Furthermore, the variety of outdoor activities available in and around Bullhead City's main crop,, combined more amenities, with the relatively affordable cost of living and rental rates, make it an attractive destination for a wide demographic. Whether it's retirees looking for a peaceful and affordable place to settle, young professionals seeking a balance of work and leisure, or investors eyeing potential rental income, Bullhead City offers a promising prospect. The upward trend in home prices, although at a moderate pace compared to Douglas, still portrays a positive outlook for real estate investments here.
3. Coolidge
Coolidge, located in Pinal County, Arizona, is a city brimming with historical significance and a close-knit community vibe. Known for the Casa Grande Ruins National Monument, sun city of Coolidge offers a blend of cultural heritage and modern-day living.
Median Home Price: $317K
Trending: Slight Upward (0.6% increase since last year)
Our Take
The real estate market in Coolidge is showing a slight upward trend with a 0.6% increase in median home prices compared to the previous year. Although the average rent increase is marginal, it signals stability in the market, which is a positive sign for both investors and homeowners. The median price of homes stands at $317,000, which is reasonably affordable compared to many other regions in Arizona.
Moreover, the longer average time on market for homes, which is 82 days, reflects a less competitive market. This could be beneficial for buyers as it may provide them with more negotiation power, and for investors, it could mean less competition and potentially better deals.
4. Apache Junction
Apache Junction is a city that embraces its historical roots while looking towards the future. It's named after the junction of the Apache Trail and Old West Highway, offering a rich blend of natural beauty, heritage, and modern conveniences.
Median Home Price: $384K
Trending: Upward (5.7% increase since last year)
Our Take
The real estate market in Apache Junction is on an upward trend, with a 5.7% increase in median home prices compared to the previous year. The median price stands at $384,000, making it a viable option for those looking for reasonably priced homes in Arizona. The somewhat competitive nature of the market suggests a healthy demand, which could be driven by the city's scenic beauty, historical significance, and proximity to urban centers like Mesa and Phoenix.
Furthermore, the average time on market for homes is 35 days, which is a reasonable timeframe, indicating a balanced market with a steady flow of transactions. This balance could offer favorable conditions for both buyers and sellers, making Apache Junction a viable option for real estate investments. The city's unique blend of historical roots, natural beauty, and modern conveniences make it an attractive place for a variety of buyers, including families, retirees, and investors.
5. Eloy
Eloy is a large city in Pinal County, Arizona, known for its somewhat competitive housing market. With a median home price of $255K, and average rent price which has seen a decrease of 7.9% since last year, Eloy presents a more affordable option for homebuyers than cost of living cheapest cities in Arizona1.
Median Home Price: $255K
Trending: Downward (7.9% decrease since last year)
Our Take
The housing market in Eloy is showing a downward trend, which could be a signal for potential buyers to find more affordable options. The median home price in sun city is relatively low compared to other cities in Arizona, making Eloy an attractive choice for those looking for cost-effective housing opportunities.
Additionally, the somewhat competitive nature of the housing market suggests that there is a healthy level of interest and activity in the area. The lower prices could be drawing more buyers to Eloy, which might lead to an increase in demand over time.
6. Kingman
Kingman, a city steeped in history and situated in Mohave County, Arizona, is a small town often seen as a gateway to the scenic wonders of the surrounding area. The city's real estate market is currently very competitive, with homes on average receiving two offers and selling within 27 days on the market.
Median Home Price: $290K
Trending: Slight Downward (0.17% decrease since last year)
Our Take
The real estate market in Kingman is experiencing a slight downward trend with a median home price of $290,000, which is a 0.17% decrease compared to last year. This slight dip in prices might create a more favorable environment for buyers. The competitiveness of the market indicates that despite the decrease, the demand for homes in Kingman remains strong.
Furthermore, the average selling time of homes is 27 days, which is quite brisk and shows that homes are moving relatively quickly in this market. This could be due to the attractive prices or the allure of living in a city with such rich history and proximity to natural wonders like the Grand Canyon.
7. Rio Rico
Rio Rico, small town situated in Santa Cruz County, Arizona, is a tranquil community known for its affordable housing market and beautiful parks. It's a place where residents enjoy a quieter pace of life while still having access to essential amenities and natural beauty.
Median Home Price: $285K
Trending: Upward (4.4% increase since last year)
Our Take
The real estate market in Rio Rico is currently not very competitive, which could provide more negotiation power to the buyers. The median home price in cheapest city stands at $285,000, witnessing a 4.4% increase in average rent since last year. This moderate increase in average rent suggests a steady demand for homes in the area, which could be driven by the affordable rental prices and serene living environment that affordable town of Rio Rico offers.
8. Yuma
Yuma, located in the southwestern corner of Arizona, is known for its hot desert climate and is a hub for agriculture and military installations. The city's real estate market is somewhat competitive, with homes selling for a median price of $321K, a 10.7% increase since last year
Median Home Price: $321K
Trending: Upward (10.7% increase since last year)
Our Take
Yuma's real estate market, though somewhat competitive, provides a range of affordable housing options compared to other cities in Arizona. The 10.7% year-over-year increase in median home prices indicates a healthy demand for homes, potentially driven by the city's strategic location near the California and Mexico borders, and its strong agricultural and military presence.
The national average of selling time for homes is around 43 days, which is a moderate timeframe allowing for both buyers and sellers to make well-informed decisions. The continuous development in the area, coupled with its unique desert beauty and historical significance, might continue to attract residents and investors alike.
9. Safford
Safford, nestled in the heart of Graham County, is a small city known for its scenic views and outdoor recreational opportunities. The real estate market here is somewhat competitive, surprisingly affordable places to live in, with homes selling for a median price of $73K, marking a significant decrease of 67.0% since last year. This affordable place is top of our list of cheapest places to live in Arizona.
Median Home Price: $73K
Trending: Strong Downward (67.0% decrease since last year)
Our Take
The real estate market in Safford is witnessing a strong downward trend with a whopping 67.0% decrease in median home prices compared to the previous year. This drastic drop could be due to various factors, and it presents a golden opportunity for buyers seeking budget-friendly housing options.
Homes in Safford are selling extremely quickly, with an average time on the market of only 5 days. This quick turnover might indicate a high demand for homes despite all the amenities and lower prices, possibly driven by the city's appeal for outdoor enthusiasts and its close-knit community vibe.
10. Casa Grande
Casa Grande is a city located in Pinal County, Arizona, known for its affordable city somewhat competitive housing market. The median sale price of a home in big city of Casa Grande was $342K last month, marking a 1.7% decrease since last year. Though not the cheapest place on top of our cheapest places to live in arizona list, this one's good for its well-rounded market.
Median Home Price: $342K
Trending: Downward (1.7% decrease since last year)
Our Take
Casa Grande's real estate market is experiencing a slight decrease in median home prices, which could be an opportunity for potential buyers to enter the market at a lower price point. The city's somewhat competitive nature suggests a healthy level of activity in the market, which could be an indication of its desirability among homebuyers.
The national average of time on the market for homes is 51 days, which is a moderate timeframe, allowing buyers to explore their options without feeling rushed. This balanced market dynamic could be a positive sign for both buyers and sellers, providing a fair ground for negotiations.
