As an expert in the real estate market, I am often asked about the cost of living in Scottsdale, Arizona. And the answer is yes, it is generally considered an expensive place to live. The cost of living is significantly higher than the national average, especially when it comes to housing. While public services may be slightly cheaper, other expenses such as food and healthcare are also higher. But before you dismiss Scottsdale as an overpriced market, there are some important trends to consider.
As with any investment, it's crucial to understand how the market tends to behave. Overall, Scottsdale is known for its high cost of living compared to other cities. This means that if you're determined to live in a gated community, dine at five-star restaurants every night, and enjoy all the luxurious amenities, you should be prepared to make a significant investment. However, if you're willing to explore different neighborhoods, live a little further away from the city center, cook at home more often, and take advantage of the many free or low-cost activities offered by the Valley, you may be surprised at how affordable Scottsdale can be. In July 2024, CoreLogic published their latest edition on home prices in the U. S., and it's predicted that housing prices in the Phoenix-Scottsdale-Mesa area will increase by 5%, despite being classified as an overvalued market.
This is something to keep in mind when considering the real estate market in Arizona. While Phoenix may not be performing well in terms of numbers, Scottsdale is not following the same trend. In fact, it's quite the opposite.
