Phoenix, AZ vs Denver, CO: Cost of Living Comparison
Updated November 2026
Phoenix is the cheaper place to live: overall prices in Denver are 5.2% higher, and housing prices differ the most (110.3 in Phoenix vs 139.6 in Denver). A single adult's modelled budget is $2,906 a month in Phoenix and $3,249 in Denver.
Side-by-side figures
| Measure | Phoenix, AZ | Denver, CO |
|---|---|---|
| Local cost index (CostLiving estimate) | 102.0 | 107.3 |
| BEA index for the area | 103.3 | 105.8 |
| Housing (rents) | 110.3 | 139.6 |
| Goods | 95.0 | 101.0 |
| Utilities | 93.3 | 87.9 |
| Other services | 104.0 | 99.4 |
| Monthly budget, single adult | $2,906 | $3,249 |
| Monthly budget, couple | $4,642 | $5,064 |
| Monthly budget, family of 4 | $5,684 | $6,227 |
| Median gross rent | $1,582 | $1,831 |
| 1-bedroom rent | $1,355 | $1,653 |
| 2-bedroom rent | $1,631 | $2,006 |
| 3-bedroom rent | $1,929 | $2,410 |
| Median home value | $420,700 | $616,000 |
| Median household income | $81,332 | $94,718 |
| Rent as % of renter income | 31.0% | 29.2% |
| Home value ÷ income | 5.2× | 6.5× |
| Electricity (state, ¢/kWh) | 15.05 | 17.17 |
| Regular gasoline ($/gal) | $4.77 † | $4.07 |
| Population | 1,642,323 | 718,877 |
* fallback value (see notes) · † regional gasoline figure. Local index: CostLiving estimate from BEA RPP 2024 and ACS rents; housing and income: Census ACS 2020-2024; electricity: EIA August 2026; gasoline: EIA week of 2026-11-02.
Prices by category
Phoenix, AZ
Phoenix price index by category, US average = 100: All items 102.0, Housing (rents) 110.3, Goods 95.0, Utilities 93.3, Other services 104.0
Denver, CO
Denver price index by category, US average = 100: All items 107.3, Housing (rents) 139.6, Goods 101.0, Utilities 87.9, Other services 99.4
Monthly budget, family of 4
| Category | Phoenix | Denver | Difference |
|---|---|---|---|
| Housing (rent) | $1,694 | $2,286 | +$592 |
| Utilities | $500 | $421 | −$79 |
| Food at home | $706 | $750 | +$44 |
| Transportation | $1,740 | $1,739 | −$1 |
| Health care | $631 | $604 | −$27 |
| Clothing, personal care & supplies | $413 | $427 | +$14 |
| Total | $5,684 | $6,227 | +$543 |
Modelled estimate, excluding taxes and child care. How it is calculated.
Try other numbers
Frequently asked questions
Is Denver more expensive than Phoenix?
Yes. Overall prices in Denver, CO (index 107.3) are 5.2% higher than in Phoenix, AZ (index 102.0), based on our local cost index (BEA Regional Price Parities 2024 adjusted for local rents). The biggest gap is in housing (rents): 139.6 vs 110.3.
What salary do I need in Denver to match $60,000 in Phoenix?
About $63,100. Going the other way, $60,000 in Denver buys about as much as $57,000 in Phoenix. Taxes are not included.
Is rent cheaper in Phoenix or Denver?
Median gross rent is $1,582 in Phoenix and $1,831 in Denver (+15.7% in Denver; Census ACS 2020-2024). Median home values are $420,700 and $616,000.
Notes
- Phoenix: gasoline price - PADD region (EIA publishes weekly prices for only 9 states).
Not financial advice. Methodology · Sources