Debt relief in Tempe (AZ) could be a good choice for getting your finances back on track. By consolidating all your debts into one loan with a lower interest rate, you can reduce your monthly payments and pay off your debts more quickly. However, before taking out a consolidation loan, it’s important to weigh the pros and cons to make sure it’s the best decision for your particular situation.
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Tempe Arizona AZ
The bustling city of Tempe is located in the East Valley section of metropolitan Phoenix, Arizona. With a 2020 population of 180,587, it is bordered by Scottsdale and the Salt River Pima–Maricopa Indian Community to the north, Mesa to the east, Chandler to the south, and Phoenix and Guadalupe to the west. The city takes its name from the Vale of Tempe in Greece and is home to Arizona State University’s main campus.
Housing Market
Areas of Arizona that are seeing increased demand for housing include Phoenix and Prescott. In Phoenix, prices for homes have increased by 29.5% since July 2020, with a median price of $395,000. Surprisingly, Prescott’s metropolitan area is also seeing an increase in demand for housing. 2,421 homes were sold compared to last year’s 2,715 (a decrease of 294 homes sold).
In 2019, the median value of houses and condos in Tempe was $323,600, a significant increase from the 2000 value of $126,700. This puts Tempe well above the Arizona median value of houses and condos at $255,900. The mean prices for all housing units in Tempe in 2019 were $321,687.
Cost Of Living & Income
In 2019, the median household income in Tempe was $66,297. This is a significant increase from the year 2000 when the median household income was $42,361.
The cost of living in Tempe is quite reasonable, with a 2019 gross rent of only $1,237. The city’s cost of living index is an impressive 96.5, which is only slightly below the national average.
Taxes And Banking
Arizona residents pay some of the highest state and local tax rates in the US. This can be a significant burden, especially for those living in areas with higher sales tax rates. For example, residents of Winslow, Holbrook, and Pinetop-Lakeside all pay a 9.43% sales tax rate, while those in Kearney pay an astonishing 11.2%.
Retirement In Arizona
Arizona may not be the best state to retire in for those expecting a comfortable lifestyle. The average person in Arizona only has $407,029 saved for their golden years, which falls significantly short of the estimated $1,000,000 needed. Consequently, many retirees find themselves barely scraping by.
As retirement approaches, many people in Arizona are searching for a more affordable cost of living. Georgia is becoming a popular destination for those who want to enjoy a good quality of life without spending too much money. Social Security benefits go further in Georgia, making it an attractive option for seniors who rely on them for most of their income.
Debt Relief In Tempe AZ
Debt consolidation in Tempe (AZ) can be a great tool to get your finances back on track. By consolidating your debts into one loan, you can lower your interest rate and monthly payments, making it easier to pay off your debts. However, there are some things to consider before consolidating your debts. Make sure you understand the pros and cons of debt consolidation before taking out a loan.
