Is Phoenix, AZ cheaper than Elk River, MN?

Based on cost of living data, Phoenix, AZ is 1.8% more expensive than Elk River, MN. This translates to spending an extra $138 per month.

What salary do I need in Phoenix, AZ to live like I do in Elk River, MN?

If you earn $150,000 in Elk River, MN, you'd need approximately $151,650.66 in Phoenix, AZ to maintain the same standard of living.

How does housing cost compare between Elk River, MN and Phoenix, AZ?

Housing in Phoenix, AZ is 17.6% more expensive than in Elk River, MN. For a two-bedroom apartment, rent is $1,750/month in Phoenix, AZ compared to $1,276/month in Elk River, MN.

How much can I save per month by moving from Elk River, MN to Phoenix, AZ?

Living in Phoenix, AZ costs approximately $138 more per month than Elk River, MN, or $1651 more per year, based on a $150,000 salary.

Elk River, MN vs Phoenix, AZ: Cost of Living Comparison 2026

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Cost of Living Comparison 2026

📍 Elk River, MN — ZIP-level rent data · COL adjusted from Minneapolis, MN area

Current salary in Elk River, MN

Numbers update automatically as you type

You'd spend $138/month more in Phoenix, AZ

$150.0K in your current city equals $151.7K in Phoenix, AZ

Rent data from HUD ZIP-level estimates · COL index from Minneapolis-St. Paul-Bloomington, MN-WI area

Overall Cost

↑ 1.8%

More expensive

Monthly Impact

$138

Extra cost

Annual Impact

$1.7K

Per year

Based on monthly living costs (rent, groceries, utilities, transport, healthcare). Home purchase prices shown separately below.

Elk River, MN

Population:27K

Cost Index:100

Median Home:$403K

Phoenix, AZ

Population:1608K

Cost Index:102

Median Home:$414K

Elk River, MN

The North Star State

27K

Population

State Tax

Yes

Located in Minnesota, this city has a population of 27K residents.

Phoenix, AZ

The Grand Canyon State

1.6M

Population

State Tax

Yes

Climate

Hot desert

Notable Facts

•Fastest growing major city
•Desert metropolis
•Spring training capital

Major Industries

TechnologyHealthcareTourismManufacturing

Cost Breakdown by Category

Annual spending: Elk River, MN vs Phoenix, AZ

Category	Elk River, MN	Phoenix, AZ	Difference	Change
🏠Housing	$2,370/mo	$2,788/mo	↑ $418more	17.6%
🚗Transportation	$1,295/mo	$1,489/mo	↑ $194more	15.0%
🏥Healthcare	$732/mo	$589/mo	↓ $144less	19.6%
⚡All Utilities	$492/mo	$561/mo	↑ $68.92more	14.0%
🛒Groceries	$997/mo	$963/mo	↓ $33.72less	3.4%
📦Other	$1,665/mo	$1,677/mo	↑ $12.31more	0.7%

🏠Housing

↑ 17.6%

Elk River, MN

$2,370

Phoenix, AZ

$2,788

Difference

$418

🚗Transportation

↑ 15.0%

Elk River, MN

$1,295

Phoenix, AZ

$1,489

Difference

$194

🏥Healthcare

↓ 19.6%

Elk River, MN

$732

Phoenix, AZ

$589

Difference

$144

less

⚡All Utilities

↑ 14.0%

Elk River, MN

$492

Phoenix, AZ

$561

Difference

$68.92

🛒Groceries

↓ 3.4%

Elk River, MN

$997

Phoenix, AZ

$963

Difference

$33.72

less

📦Other

↑ 0.7%

Elk River, MN

$1,665

Phoenix, AZ

$1,677

Difference

$12.31

🏠Rent Comparison

Studio

From$925

To$1,390

↑ $465

1 Bed

From$1,053

To$1,510

↑ $457

2 Bed

From$1,276

To$1,750

↑ $474

3 Bed

From$1,691

To$2,330

↑ $639

Elk River, MNZIP-level data

1BR range: $1,320–$1,320/mo

Phoenix, AZZIP-level data

1BR range: $1,300–$2,380/mo

💡 Note: Rent prices are based on HUD Fair Market Rent data and represent median costs. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,551

Monthly in Elk River, MN

$8,068

Monthly in Phoenix, AZ

$516

Difference

Home Values

Elk River

Phoenix

$403K

Median Value

$414K

↑ +1.9%

YoY Change

↓ -3.1%

↑ +26.9%

5-Year Change

↑ +30.2%

$403K

Price Range

$274K - $957K

Homes in Phoenix are 3% more expensive than Elk River

Calculate payment - Elk River Calculate payment - Phoenix

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↑ $5.2K

Per year

Monthly Difference

$433

More take-home

Effective Rate Diff

3.5%

Rate difference

Elk River, MN

Federal Income Tax

Effective: 18.9%

$25.5K

Minnesota State Tax

Effective: 7.0%

$10.4K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 31.6%

$47.4K

Take-Home Pay

$8,546/month

$102.6K

Phoenix, AZ

Federal Income Tax

Effective: 18.9%

$25.5K

Arizona State Tax

Effective: 3.5%

$5.2K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 28.2%

$42.2K

Take-Home Pay

$8,979/month

$107.8K

Additional Tax Information

Elk River, MN Tax Rates

Sales Tax:8.0%

Property Tax:1.1%

Phoenix, AZ Tax Rates

Sales Tax:8.5%

Property Tax:0.6%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.