One of the main factors we need to consider as we get ready for retirement is the cost of living in our preferred destination. Fortunately, for a city of its size, Tucson is incredibly affordable. In fact, according to the latest figures from Forbes, the cost of living in Tucson is 2.9 percent lower than the national average. But, how does “The Old Pueblo” compare to the rest of the country when it comes to the expenses that matter most to seniors?
The housing prices in Tucson are showing a slight upward tick, while rents are staying relatively stable. Housing costs are likely to remain flat with the slowing of the city’s population increase and the stagnant job growth. As of July 2015, the median home price in Tucson is $166,600. For those who prefer to rent, the average cost for a one-bedroom apartment in Tucson is $578 per month. A two-bedroom unit will cost you $738 as of June 2016.
The food costs in Tucson are right around the national average. According to Sperling’s Best Places, Tucsonans spend just a fraction of a percentage point less for groceries than the rest of the United States. What does this look like in the grocery store? As of July 2016, the average price for a gallon of milk in Tucson is $2.23, a dozen eggs costs $2.50, and a pound of boneless, skinless chicken breasts is $3.38.
On the other hand, transportation in Tucson is slightly more than the US average. Residents spend one percent more for transportation than the average according to Sperling’s Best Places. Of course, your costs will be lower if you are retired and do not have a workday commute. The price for a gallon of gas in Tucson as of July 2016 ranges from $1.70 to $2.24. The rates for auto insurance in Tucson are below the national average. You can expect to pay an average of $1,051 per year for car insurance in Tucson. The average for the rest of the country is $1,099.
Seniors care in Tucson is more expensive than the national average for the most part. The one exception is assisted living. A private room in an assisted living facility costs $39,900 per year in Tucson. The national median is $43,539. Home health care in Tucson is about $2,000 more per year than the rest of the country. Adult day health care costs $19,406 in Tucson but $17,680 nationally. And, the prices for private rooms and semi-private rooms in Tucson nursing homes are $99,718 and $83,045 respectively. Nationally, these costs are $92,378 and $82,125.
Take the time to comparison shop Tucson housing based on pricing, affordable transportation solutions, and walkability to make certain you are getting the most out of your nest egg.
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