According to the American Enterprise Institute (AEI) and the Bureau of Labor Statistics the consumer prices of have gone up a whopping 92% from the years 2000-2023. Three cities measured included Phoenix, Scottsdale, and Mesa. It’s no wonder people are starting to move down in the southeast areas of Casa Grande, Coolidge and other areas, because the house prices have spiked so much within the past 2-3 years.
The hourly wage a person needs in Arizona to live comfortably and manage a household with one child is $42.27. That means working full time, 40 hours a week with an annual salary of $87,360. This includes paying all basic expenses (housing, food, childcare, medical etc.). No wonder families are moving in together, and merging households to maintain the income to survive today’s inflation!
The chart below comes from AEI’s “Chart of the Century”. INSANE!
