Arizona vs Colorado: Tax & Cost of Living Comparison
A comprehensive side-by-side comparison of taxes, cost of living, housing, income, and insurance costs between Arizona and Colorado.
State 1
Arizona
AZ
State 2
Colorado
CO
| Category | Arizona | Colorado |
|---|---|---|
| Income Tax Rate | 2.50%Better | 4.40% |
| Property Tax Rate | 0.62% | 0.49%Better |
| Property Tax (on Median Home) | $2,449/yrBetter | $2,573/yr |
| Sales Tax Rate | 5.60% | 2.90%Better |
| Cost of Living Index | 103Better | 105 |
| Median Home Price | $395,000Better | $525,000 |
| Median Household Income | $68,000 | $82,250Better |
| Avg. Auto Insurance | $1,860/yrBetter | $2,100/yr |
| Avg. Home Insurance | $1,950/yrBetter | $2,600/yr |
Cost of Living Comparison
Index relative to national average (100)
Median Home Price
Arizona
$395,000
Property Tax: $2,449/yr
Colorado
$525,000
Property Tax: $2,573/yr
Arizona homes are 24.8% cheaper than Colorado homes.
Median Household Income
Arizona
$68,000
Colorado
$82,250
Colorado households earn $14,250 more per year on average.
Insurance Costs
| Type | Arizona | Colorado | Difference |
|---|---|---|---|
| Auto Insurance | $1,860/yr | $2,100/yr | $240/yr |
| Home Insurance | $1,950/yr | $2,600/yr | $650/yr |
| Total Insurance | $3,810/yr | $4,700/yr | $890/yr |
Overall Financial Comparison
Weighted score combining income tax, property tax, sales tax, cost of living, housing, insurance, and income. A lower score indicates better overall financial affordability.
Arizona
36.5
Colorado
33.5
More Affordable
The Bottom Line
Arizona offers lower income tax, lower cost of living, more affordable housing compared to Colorado. Meanwhile, Colorado offers lower property tax, lower sales tax, higher median income. Overall, Colorado edges ahead in our weighted financial comparison.
Arizona Advantages
- +Lower income tax
- +Lower cost of living
- +More affordable housing
Colorado Advantages
- +Lower property tax
- +Lower sales tax
- +Higher median income