Cost of Living in Parker, AZ

With a cost of living index of 84, Parker, AZ is a very affordable place to live. Living here is 16% cheaper than the national average and 5% below the Arizona state average of 89. Parker is a small community of 3,379 residents.

Housing costs are the biggest factor in Parker's cost of living. The median monthly rent is $992 (25% below the US median of $1,319), and the median home value sits at $253,300 (17% below the national median of $304,900). At current prices, the median home costs roughly 3.4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Parker is $74,643, which is 1% lower than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Parker. The area sees an average annual temperature of 74.4°F, with summers averaging 93°F and winters around 56°F. Annual rainfall totals 3.6 inches spread over roughly 18 days. Hot summers are common, which can affect utility costs and lifestyle.

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.