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What’s the Cost of Living in Tempe, AZ?

Once you’ve entered your retirement years, you can take advantage of the opportunities available to people no longer tied down to a particular locale.

The best opportunity to pursue many options on a fixed income is relocation.

Relocating to a different city can stretch your retirement funds, offer a change of scenery, and make life easier. Tempe, Arizona has a lot to offer retirees.

Forbes pegs the cost of living in Tempe as just 4.5% above the national average, but the climate and amenities can make it a great move.

Rents and Housing in Tempe

The average rental cost of a one bedroom apartment in Tempe is $989, which is below the national average. For buyers, the median home price in Tempe is a little north of $275,000. Both rents and home prices have been steadily increasing over the last ten years. These factors are offset somewhat by Tempe’s nearness to Phoenix so that you can easily enjoy big city amenities while living in smaller, easily navigated area.

One of the greatest benefits to living in Tempe is the weather. Tempe residents enjoy 330 days of sunshine every year. If you currently live in on the northeastern seaboard, Tempe will be a welcome relief from dark, cold winters.

Transportation in Tempe

Tempe residents have access to the Valley Metro transportation system. As your physical ability declines with age, you can take a break from driving by enjoying easy access to both train and bus service. Hospital visits and recreational activities are easily accessed by mass transit. For drivers, gasoline prices are well within national averages. The dry climate will also help preserve the metal parts of your car, lengthening the vehicle's useful life. The long straight stretches of highway are easily navigated, and outside rush-hour Phoenix, a drive is usually quick and smooth.

Tempe Food Costs

The cost of groceries in Tempe is just slightly higher than the national average. The cost of eating out in Tempe is slightly lower than the average and more affordable than in many northern states. While Tempe is not the lowest cost destination for food costs, a move to Tempe for many retirees will result in a drop in food costs.

Tempe Medical Care

Living in Tempe means access to top notch medical care at Tempe St. Luke’s Roosevelt Hospital. They’ve served the community for over 60 years and have the facilities and specialists to provide top notch geriatric care.

Assisted Living in Tempe, Arizona

The average monthly cost of assisted living facilities in the Phoenix area is $3170, which is just higher than the national average. A nursing home will set you back approximately $5,500 a month for a semi-private room, which is lower than the national average of $80,000. When you consider the beautiful climate and easily accessed amenities in the Phoenix region, it is a remarkable deal. If your nest egg is large enough to meet the costs, then Tempe is a great place to settle.

Learn more about Tempe Retirement Planning here:

How Much Does It Cost to Retire in Tempe, AZ?

Tempe Financial Advisors

Tempe Elder Law Attorneys

Tempe Senior Realtors

Tempe Senior Movers and Downsizers

Tempe Neighborhood Guide

Live Like a Local in Tempe

Tempe Demographics and Lifestyle

Find assisted living in Tempe near you.