Flagstaff, AZ vs Prescott, AZ

Flagstaff, AZ and Prescott, AZ have a very similar cost of living, with only a 3.6% difference in their overall index. Flagstaff scores 121 while Prescott scores 116 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Flagstaff is $1,555/month compared to $1,304/month in Prescott — a 19% difference. Interestingly, home values tell a different story: while Prescott has cheaper rent, Flagstaff actually has lower median home values ($503,400 vs $528,500).

Median household income in Flagstaff is $68,041 compared to $69,151 in Prescott (-1.6%). Prescott offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Flagstaff spend roughly 27.4% of their income on rent, more than the 22.6% in Prescott.