Are you about to become one of the Phoenicians? No, not the ancient seafarers, but the sun-seeking desert dwellers of Phoenix, Arizona! If so, you will join many others attracted to a land where recreational activities prosper 12 months a year. Phoenix’s population has been growing at about 1.5% per year and the city is now the nation’s fifth-largest metro area, with 4.7 million residents.
If you’re thinking about a move to the Valley of the Sun, you’re probably wondering what it will cost to live there, especially if you’re renting an apartment for the first time. You might also be curious about how you might spend your leisure time. Here are some helpful tips for first-time renters looking for an apartment in Phoenix.
1. Consider Your Budget
First-time renters should be sure to limit housing costs to what is affordable. This is important because some expenses, like transportation, may run higher in Phoenix.
How much rent can you afford? As Chase notes, there are two different standards, the 30% rule and the 50-30-20 standard. The 30% rule is simple – keep rent at less than 30% of your household’s gross income.
The 50-30-20 rule assigns portions of your household income to essentials, non-essentials, and savings. You can think about this in terms of “needs” vs. “wants.”
- 50% for essentials like rent, transportation, food, utilities, clothing, and healthcare
- 30% for non-essentials like dining out, leisure activities, and vacations
- 20% to savings
Putting one-fifth of your income toward savings gives you a cushion when one-time, unexpected expenses occur.
2. Learn More About the Cost of Living
Here’s a closer look at the cost of key essentials in Phoenix:
Rent
Like the rest of the country, the cost of living has gone up in Phoenix. The Bureau of Labor Statistics (BLS) reports that the Consumer Price Index (CPI) has increased 8.5% year-over-year. Fortunately, average rents have increased at a more modest pace. According to Zumper, the average rent for a two-bedroom apartment was $1,699, while renting a one-bedroom costs $1,409 on average.
Transportation
In Phoenix, 97% of transportation costs relate to personal vehicles. The BLS says that, on average, 18.9% of household income is spent on transportation, higher than the national average of 16.2%. Count the sprawling nature of the metroplex as a key reason for the added expense.
Of course, there are other ways to get around. For bikeways across the city, check out the city’s bike map. Bicycle Boulevard is 4.6 miles of bike lanes that snake their way through the downtown area. A single ride on the bus costs $2 or $4 for an all-day pass ($6.50 for express buses).
Food
Food costs parallel those of many other areas across the country, up 10.1%, over the past 12 months. Food away from home costs 12.3% more. Account for entertaining family and friends when you estimate monthly costs. Include the cost of feeding eager attendees at the next barbeque, for example.
3. Enjoy a Successful Move
As you plan for your move, review this comprehensive move-in checklist. Pack your personal essentials and keep them with you throughout your move. Discard unnecessary items, donating to local charities as appropriate.
Timing
If you can, time your move to coincide with a cooler time of the year, or at least a cooler point in the day. Did you know that the average high temperature in Phoenix is in the sixties and seventies from November through March? Temperatures are often more comfortable due to the dry desert air. From May to September, the average humidity remains below 30%.
Address updates
Send moving announcements to friends and family. Update your address with the U.S. Postal Service and with the Social Security Administration. Provide your new address as you register to vote. Update your personal information with credit card companies and subscription services. First-time renters arriving from out-of-state will want to register vehicles with the DMV and apply for an Arizona driver’s license.
Renter’s Insurance
Make sure you cover your belongings with sufficient renter’s insurance. Be sure to inquire about special riders for valuables like jewelry, cameras, and coin collections. Riders often reduce deductibles, and they can cover accidental loss in some cases.
4. Get Out and Explore
Once you’ve settled in, explore all that Phoenix has to offer. It has been ranked the second sunniest city in the country, making it easier to plan those outdoor activities. Spend a day at the Phoenix Zoo, Butterfly Wonderland, or Desert Botanical Garden. Golfers have almost 200 courses to choose from. Tennis and pickleball are also very popular.
Hikers choose trails of varying difficulty at places like Papago Park, Usery Mountain, and White Tank Mountain. Or, savor a sunset along the impressive summit trails at Camelback Mountain, Lookout Mountain, or Piestewa.
It’s easy to attend sports events as most professional leagues have a presence here. Take in a game played by the NBA’s Suns, MLB’s Diamondbacks, NFL’s Cardinals, or the NHL’s Coyotes.
5. Revel in Diverse Cuisine Options
After an active day of outdoor recreation, you can look forward to kicking back and relaxing over a delicious meal. Be confident that the chefs and culinary artists of Phoenix serve pretty much anything your palette craves.
For example, on the north side, enjoy French cuisine at Le Sans Souci at Cave Creek. Or go with Peruvian at Los Andes, Japanese at Yasu Sushi Bistro, or Filipino at Casa Filipina. Downtown, there’s Mancuso’s for fine Italian. On the west side, peruse the Vietnamese menu at Pho 43.
For a special treat, head to the Hyatt Regency and enjoy 360-degree views as you dine at the rotating Compass Arizona Grill on the 24th floor.
Luxury Apartment Living
Senita on Cave Creek is a 15-building, 240-unit luxury rental community near I-17 and US-101, 25 minutes north of downtown Phoenix. Residents enjoy scenic views of the 9600-acre Phoenix Sonoran Preserve and the surrounding mountains.
Open-concept living spaces include gourmet kitchens, vaulted ceilings, and hardwood-style flooring. These apartment homes also include walk-in closets and a full-size washer and dryer. Community amenities include a resort-style pool with cabanas, an outdoor gaming area, and a 24-hour fitness center. There is covered parking and garage parking as well as a bike storage room. Pet owners love the pet park and indoor wash station.
At Senate on Cave Creek, it is possible to settle into a home that simultaneously delivers sophisticated amenities and warmth.
About Draper and Kramer
Draper and Kramer is a full services real estate firm founded in 1893. D&K’s luxury apartment communities are known for their generous amenities and exemplary service. Get more information about Senita on Cave Creek, or browse our entire inventory of luxury apartment properties.
Phoenix has been ranked the second sunniest city in the country, making it easier to plan outdoor activities. Spend a day at the Phoenix Zoo, Butterfly Wonderland, or Desert Botanical Garden. Golfers have almost 200 courses to choose from. Tennis and pickleball are also very popular.
