Denver, CO vs Phoenix, AZ: cost of living compared
Price levels from BEA (2024); rent and home values from Zillow (September 2026).
The short answer
- Overall, Phoenix, AZ is 2.3% less expensive than Denver, CO (BEA, 2024).
- To keep the same standard of living, $75,000 in Denver works out to about $73,300 in Phoenix, before taxes.
- Most of the difference is housing, which costs 17.5% less in Phoenix. Goods are 5.9% lower and other services 4.6% higher.
- Typical asking rent is $1,720 a month in Phoenix and $1,900 in Denver, $2,160 a year less in Phoenix (Zillow, September 2026).
- A typical home is valued at about $441,000 in Phoenix and $555,000 in Denver.
- The gap has narrowed since 2019, when Phoenix was 4.2% less expensive than Denver.
derived Calculated from BEA Regional Price Parities (2024) and Zillow data. Based on an average household's spending; taxes not included. How we calculate.
Category by category
Both cities against the US average (100). The gap in each row is what matters for a move.
Housing drives the gap: 17.5% lower in Phoenix than in Denver
Price level by category, 2024. US average = 100.
- Denver, CO
- Phoenix, AZ
All items Denver, CO: 105.8 Phoenix, AZ: 103.3
Goods Denver, CO: 101.0 Phoenix, AZ: 95.0
Housing (rents) Denver, CO: 146.9 Phoenix, AZ: 121.2
Utilities Denver, CO: 87.9 Phoenix, AZ: 93.3
Other services Denver, CO: 99.4 Phoenix, AZ: 104.0
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Denver, CO | Phoenix, AZ | |
|---|---|---|
| All items | 105.8 | 103.3 |
| Goods | 101.0 | 95.0 |
| Housing (rents) | 146.9 | 121.2 |
| Utilities | 87.9 | 93.3 |
| Other services | 99.4 | 104.0 |
| Category | Denver | Phoenix | Phoenix vs Denver |
|---|---|---|---|
| All items | 105.8 | 103.3 | −2.3% |
| Goods | 101.0 | 95.0 | −5.9% |
| Housing (rents) | 146.9 | 121.2 | −17.5% |
| Utilities | 87.9 | 93.3 | +6.2% |
| Other services | 99.4 | 104.0 | +4.6% |
| Typical asking rent | $1,900 | $1,720 | −9.5% |
| Typical home value | $555,000 | $441,000 | −20.6% |
| Salary to match $75,000 in Denver | $75,000 | $73,300 | −2.3% |
Index values: BEA, 2024, US = 100. Rent and home values: Data Provided by Zillow Group, September 2026.
How the gap has changed since 2008
The price gap between Denver and Phoenix has widened since 2008: 0.1 points then, 2.5 now
Overall price level each year, 2008–2024. US average = 100.
- Denver, CO
- Phoenix, AZ
US average = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Denver, CO | Phoenix, AZ | |
|---|---|---|
| 2008 | 105.8 | 105.7 |
| 2009 | 103.3 | 105.4 |
| 2010 | 101.9 | 102.7 |
| 2011 | 105.0 | 100.3 |
| 2012 | 105.1 | 98.7 |
| 2013 | 104.9 | 99.5 |
| 2014 | 104.8 | 99.1 |
| 2015 | 105.0 | 98.7 |
| 2016 | 105.2 | 100.4 |
| 2017 | 104.3 | 98.9 |
| 2018 | 102.4 | 99.6 |
| 2019 | 104.4 | 100.0 |
| 2020 | 109.4 | 102.8 |
| 2021 | 109.1 | 99.1 |
| 2022 | 107.3 | 103.9 |
| 2023 | 105.8 | 104.7 |
| 2024 | 105.8 | 103.3 |
Goods
- Denver, CO
- Phoenix, AZ
US = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Denver, CO | Phoenix, AZ | |
|---|---|---|
| 2008 | 107.9 | 105.6 |
| 2009 | 102.9 | 109.1 |
| 2010 | 102.9 | 101.2 |
| 2011 | 103.2 | 99.0 |
| 2012 | 102.7 | 98.0 |
| 2013 | 102.9 | 97.8 |
| 2014 | 101.7 | 98.2 |
| 2015 | 100.4 | 98.7 |
| 2016 | 100.5 | 97.8 |
| 2017 | 99.2 | 96.0 |
| 2018 | 98.8 | 95.9 |
| 2019 | 103.5 | 94.9 |
| 2020 | 107.1 | 101.5 |
| 2021 | 106.7 | 94.5 |
| 2022 | 105.2 | 98.2 |
| 2023 | 101.6 | 98.4 |
| 2024 | 101.0 | 95.0 |
Housing (rents)
- Denver, CO
- Phoenix, AZ
US = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Denver, CO | Phoenix, AZ | |
|---|---|---|
| 2008 | 122.8 | 113.7 |
| 2009 | 120.0 | 107.7 |
| 2010 | 123.1 | 103.0 |
| 2011 | 131.1 | 103.0 |
| 2012 | 127.5 | 102.7 |
| 2013 | 128.7 | 100.0 |
| 2014 | 134.3 | 101.4 |
| 2015 | 141.6 | 101.2 |
| 2016 | 147.2 | 100.6 |
| 2017 | 148.2 | 103.3 |
| 2018 | 148.3 | 104.4 |
| 2019 | 147.3 | 106.4 |
| 2020 | 152.6 | 111.2 |
| 2021 | 146.2 | 116.1 |
| 2022 | 145.6 | 122.8 |
| 2023 | 146.1 | 124.3 |
| 2024 | 146.9 | 121.2 |
Utilities
- Denver, CO
- Phoenix, AZ
US = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Denver, CO | Phoenix, AZ | |
|---|---|---|
| 2008 | 79.3 | 100.3 |
| 2009 | 78.9 | 98.2 |
| 2010 | 81.9 | 106.1 |
| 2011 | 90.8 | 105.1 |
| 2012 | 81.7 | 99.0 |
| 2013 | 79.5 | 98.0 |
| 2014 | 98.6 | 98.3 |
| 2015 | 87.2 | 99.6 |
| 2016 | 88.6 | 95.7 |
| 2017 | 85.1 | 99.6 |
| 2018 | 88.7 | 104.7 |
| 2019 | 93.2 | 92.8 |
| 2020 | 95.0 | 89.8 |
| 2021 | 92.6 | 89.9 |
| 2022 | 95.2 | 88.2 |
| 2023 | 95.9 | 83.1 |
| 2024 | 87.9 | 93.3 |
Other services
- Denver, CO
- Phoenix, AZ
US = 100
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Denver, CO | Phoenix, AZ | |
|---|---|---|
| 2008 | 101.3 | 103.3 |
| 2009 | 100.2 | 102.7 |
| 2010 | 96.7 | 103.4 |
| 2011 | 99.8 | 100.0 |
| 2012 | 101.9 | 97.8 |
| 2013 | 101.2 | 100.7 |
| 2014 | 99.8 | 99.2 |
| 2015 | 99.8 | 97.9 |
| 2016 | 98.9 | 102.6 |
| 2017 | 98.3 | 99.6 |
| 2018 | 95.1 | 100.6 |
| 2019 | 95.5 | 102.3 |
| 2020 | 100.4 | 101.7 |
| 2021 | 101.9 | 98.3 |
| 2022 | 100.0 | 103.4 |
| 2023 | 99.3 | 104.5 |
| 2024 | 99.4 | 104.0 |
Rent and home values
Typical asking rent: $1,720 in Phoenix vs $1,900 in Denver
Typical asking rent for a new lease, dollars per month. Quarterly.
- Denver, CO
- Phoenix, AZ
- United States
Source: Zillow Observed Rent Index (typical asking rent, all homes, smoothed), through September 2026. Data Provided by Zillow Group.
Show the numbers
| Denver, CO | Phoenix, AZ | United States | |
|---|---|---|---|
| Mar 2015 | $1,273 | $923 | $1,145 |
| Jun 2015 | $1,321 | $945 | $1,170 |
| Sep 2015 | $1,333 | $949 | $1,181 |
| Dec 2015 | $1,336 | $956 | $1,182 |
| Mar 2016 | $1,357 | $973 | $1,195 |
| Jun 2016 | $1,386 | $994 | $1,219 |
| Sep 2016 | $1,384 | $1,001 | $1,225 |
| Dec 2016 | $1,369 | $1,003 | $1,222 |
| Mar 2017 | $1,405 | $1,030 | $1,245 |
| Jun 2017 | $1,445 | $1,055 | $1,270 |
| Sep 2017 | $1,450 | $1,065 | $1,276 |
| Dec 2017 | $1,442 | $1,071 | $1,275 |
| Mar 2018 | $1,469 | $1,094 | $1,296 |
| Jun 2018 | $1,499 | $1,127 | $1,320 |
| Sep 2018 | $1,502 | $1,144 | $1,327 |
| Dec 2018 | $1,500 | $1,158 | $1,329 |
| Mar 2019 | $1,525 | $1,180 | $1,349 |
| Jun 2019 | $1,557 | $1,216 | $1,376 |
| Sep 2019 | $1,556 | $1,235 | $1,383 |
| Dec 2019 | $1,555 | $1,251 | $1,381 |
| Mar 2020 | $1,571 | $1,276 | $1,402 |
| Jun 2020 | $1,559 | $1,281 | $1,406 |
| Sep 2020 | $1,573 | $1,327 | $1,410 |
| Dec 2020 | $1,553 | $1,363 | $1,407 |
| Mar 2021 | $1,585 | $1,411 | $1,443 |
| Jun 2021 | $1,674 | $1,519 | $1,512 |
| Sep 2021 | $1,757 | $1,633 | $1,590 |
| Dec 2021 | $1,758 | $1,675 | $1,622 |
| Mar 2022 | $1,806 | $1,706 | $1,661 |
| Jun 2022 | $1,871 | $1,731 | $1,721 |
| Sep 2022 | $1,877 | $1,727 | $1,748 |
| Dec 2022 | $1,844 | $1,701 | $1,735 |
| Mar 2023 | $1,878 | $1,719 | $1,757 |
| Jun 2023 | $1,917 | $1,727 | $1,785 |
| Sep 2023 | $1,924 | $1,725 | $1,797 |
| Dec 2023 | $1,892 | $1,701 | $1,786 |
| Mar 2024 | $1,920 | $1,717 | $1,807 |
| Jun 2024 | $1,953 | $1,730 | $1,837 |
| Sep 2024 | $1,946 | $1,726 | $1,845 |
| Dec 2024 | $1,879 | $1,703 | $1,836 |
| Mar 2025 | $1,892 | $1,721 | $1,860 |
| Jun 2025 | $1,925 | $1,716 | $1,880 |
| Sep 2025 | $1,899 | $1,703 | $1,881 |
| Dec 2025 | $1,849 | $1,691 | $1,873 |
| Mar 2026 | $1,865 | $1,706 | $1,894 |
| Jun 2026 | $1,899 | $1,714 | $1,921 |
| Sep 2026 | $1,900 | $1,720 | $1,932 |
Typical home value: $441,000 in Phoenix vs $555,000 in Denver
Typical home value, dollars. Quarterly.
- Denver, CO
- Phoenix, AZ
- United States
Source: Zillow Home Value Index (typical home value, middle tier, smoothed, seasonally adjusted), through September 2026. Data Provided by Zillow Group.
Show the numbers
| Denver, CO | Phoenix, AZ | United States | |
|---|---|---|---|
| Mar 2015 | $299K | $209K | $189K |
| Jun 2015 | $310K | $214K | $192K |
| Sep 2015 | $320K | $219K | $195K |
| Dec 2015 | $329K | $226K | $199K |
| Mar 2016 | $339K | $232K | $202K |
| Jun 2016 | $348K | $234K | $204K |
| Sep 2016 | $354K | $238K | $206K |
| Dec 2016 | $362K | $241K | $209K |
| Mar 2017 | $372K | $245K | $213K |
| Jun 2017 | $380K | $249K | $216K |
| Sep 2017 | $382K | $254K | $219K |
| Dec 2017 | $389K | $258K | $223K |
| Mar 2018 | $398K | $263K | $227K |
| Jun 2018 | $405K | $268K | $230K |
| Sep 2018 | $410K | $274K | $234K |
| Dec 2018 | $413K | $278K | $236K |
| Mar 2019 | $419K | $283K | $239K |
| Jun 2019 | $422K | $286K | $242K |
| Sep 2019 | $424K | $289K | $244K |
| Dec 2019 | $429K | $295K | $247K |
| Mar 2020 | $438K | $305K | $252K |
| Jun 2020 | $442K | $312K | $255K |
| Sep 2020 | $448K | $321K | $260K |
| Dec 2020 | $466K | $339K | $271K |
| Mar 2021 | $487K | $358K | $282K |
| Jun 2021 | $518K | $388K | $296K |
| Sep 2021 | $534K | $417K | $306K |
| Dec 2021 | $546K | $438K | $314K |
| Mar 2022 | $580K | $463K | $330K |
| Jun 2022 | $609K | $493K | $346K |
| Sep 2022 | $596K | $490K | $348K |
| Dec 2022 | $581K | $465K | $345K |
| Mar 2023 | $571K | $447K | $343K |
| Jun 2023 | $571K | $448K | $347K |
| Sep 2023 | $579K | $456K | $352K |
| Dec 2023 | $581K | $460K | $354K |
| Mar 2024 | $581K | $463K | $357K |
| Jun 2024 | $582K | $466K | $361K |
| Sep 2024 | $583K | $463K | $361K |
| Dec 2024 | $585K | $461K | $363K |
| Mar 2025 | $580K | $456K | $364K |
| Jun 2025 | $569K | $451K | $362K |
| Sep 2025 | $565K | $446K | $362K |
| Dec 2025 | $567K | $446K | $364K |
| Mar 2026 | $562K | $447K | $366K |
| Jun 2026 | $554K | $443K | $365K |
| Sep 2026 | $555K | $441K | $366K |
More about each city
Related comparisons
What this comparison leaves out
- Taxes. State and local income, sales and property taxes can change the result a lot, especially between states.
- Neighborhoods. These are metro-wide averages; a city center and its outer suburbs can differ by more than two metros do.
- Your own spending mix. The default uses an average household. Use the housing slider above if rent is a bigger share of your budget.
- Timing. BEA price levels are for 2024; Zillow figures are monthly and newer.