Cost of Living in Wagon Wheel, AZ

With a cost of living index of 87, Wagon Wheel, AZ is a very affordable place to live. Living here is 13% cheaper than the national average and in line with the Arizona state average. Wagon Wheel is a small community of 1,767 residents.

Housing costs are the biggest factor in Wagon Wheel's cost of living. The median monthly rent is $1,069 (19% below the US median of $1,319), and the median home value sits at $258,800 (15% below the national median of $304,900). At current prices, the median home costs roughly 4.7x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Wagon Wheel is $55,506, which is 26% lower than the national median of $75,149. Residents spend roughly 23% 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.

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.