Why is Flagstaff so expensive to live in? Living in Flagstaff, Arizona is expensive because housing is a complicated issue here – much more so than in most American cities. That short supply and high demand drive up our housing prices. A one-bedroom apartment in Flagstaff costs about $1,300 per month.

Is Flagstaff a good rental market?

The rental market in the Flagstaff area is balanced with a vacancy rate of 6 percent. Multifamily units with five or more units accounted for more than one-third of the rental market.

Is the cost of living high in Flagstaff Arizona?

The most recent cost-of-living report available, compiled by the Council for Community and Economic Research from 2017, scored Flagstaff at 115. The number means Flagstaff holds a 15% higher cost of living than the national average (100).

Why is housing so expensive in Arizona?

Theres more demand for homes than there is supply, and its what we see in most real estate markets today. Arcadia has a median listing price of $1.2M, making it the most expensive neighborhood in Phoenix. High demand and low inventory have increased prices, which is a piece of good news if you plan on selling.

Why are houses so expensive in Flagstaff AZ?

Why is Flagstaff so expensive to live in? Living in Flagstaff, Arizona is expensive because housing is a complicated issue here – much more so than in most American cities. That short supply and high demand drive up our housing prices. A one-bedroom apartment in Flagstaff costs about $1,300 per month.

Is it a bad time to buy a house in Arizona?

2021 is an ideal time to buy a home in Arizona. A recent prediction by Realtor.com also revealed home sales in Arizona and especially the Phoenix area will jump 11.4 percent over last years levels, which is more than the national average.