Cost of Living in Steamboat, AZ

With a cost of living index of 63, Steamboat, AZ is one of the most affordable cities in the country. Living here is 37% cheaper than the national average and 26% below the Arizona state average of 89. Steamboat is a small community of 364 residents.

Housing costs are the biggest factor in Steamboat's cost of living. The median monthly rent is $850 (36% below the US median of $1,319), and the median home value sits at $39,600 (87% below the national median of $304,900). At current prices, the median home costs roughly 1.3x the median household income — well within traditional affordability guidelines.

The median household income in Steamboat is $29,783, which is 60% lower than the national median of $75,149. Residents spend roughly 34% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

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.