Cost of Living in Cordes Lakes, AZ

With a cost of living index of 80, Cordes Lakes, AZ is a very affordable place to live. Living here is 20% cheaper than the national average and 9% below the Arizona state average of 89. Cordes Lakes is a small community of 3,218 residents.

Housing costs are the biggest factor in Cordes Lakes's cost of living. The median monthly rent is $1,110 (16% below the US median of $1,319), and the median home value sits at $153,600 (50% below the national median of $304,900). At current prices, the median home costs roughly 2.8x the median household income — well within traditional affordability guidelines.

The median household income in Cordes Lakes is $55,691, which is 26% lower than the national median of $75,149. Residents spend roughly 24% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Cordes Lakes. The area sees an average annual temperature of 56.7°F, with summers averaging 74°F and winters around 40°F. Annual rainfall totals 12.9 inches spread over roughly 61 days.

Everyday prices in the Prescott Valley-Prescott, AZ (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.