13 Popular Arizona Retirement Destinations Where It's Cheaper To Rent Than Own
Dreaming of relocating to Arizona in retirement? Turns out it’s substantially cheaper to rent than it is to own a home in the most popular destinations. That said, some areas still have pricey monthly rent which can easily rival a mortgage.
We referenced an existing study where we were able to find and isolate U.S. cities with populations of at least 25,000 and where 20% or more residents are age 65 and older. The Arizona cities we kept in this piece have an average monthly rent of $2,000 or less and are sorted by highest to lowest rent payments.
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Keep reading to discover the 13 Arizona locales where retirees pay less to rent than they would to own.
1. Sahuarita
Percent of population 65-plus: 21.1%
Average monthly rent: $1,951
Annual cost for homeowner: $45,977
Annual cost for renter: $45,198
Annual % difference: 1.7%
2. Surprise
Percent of population 65-plus: 22.2%
Average monthly rent: $1,931
Annual cost for homeowner: $51,762
Annual cost for renter: $45,846
Annual % difference: 12.9%
3. Prescott
Percent of population 65-plus: 40.6%
Average monthly rent: $1,885
Annual cost for homeowner: $66,677
Annual cost for renter: $47,061
Annual % difference: 41.7%
4. Sun City West
Percent of population 65-plus: 85%
Average monthly rent: $1,803
Annual cost for homeowner: $49,535
Annual cost for renter: $44,564
Annual % difference: 11.2%
5. Florence
Percent of population 65-plus: 21.8%
Average monthly rent: $1,795
Annual cost for homeowner: $45,064
Annual cost for renter: $43,758
Annual % difference: 3%
6. Prescott Valley
Percent of population 65-plus: 29.9%
Average monthly rent: $1,794
Annual cost for homeowner: $56,101
Annual cost for renter: $45,991
Annual % difference: 22%
7. Apache Junction
Percent of population 65-plus: 34%
Average monthly rent: $1,719
Annual cost for homeowner: $48,404
Annual cost for renter: $42,973
Annual % difference: 12.6%
8. Sun City
Percent of population 65-plus: 74.7%
Average monthly rent: $1,690
Annual cost for homeowner: $45,122
Annual cost for renter: $43,247
Annual % difference: 4.3%
9. Oro Valley
Percent of population 65-plus: 35.7%
Average monthly rent: $1,690
Annual cost for homeowner: $57,980
Annual cost for renter: $42,451
Annual % difference: 36.6%
10. Lake Havasu City
Percent of population 65-plus: 35.2%
Average monthly rent: $1,599
Annual cost for homeowner: $57,204
Annual cost for renter: $43,376
Annual % difference: 31.9%
11. Bullhead City
Percent of population 65-plus: 34.3%
Average monthly rent: $1,446
Annual cost for homeowner: $45,119
Annual cost for renter: $41,157
Annual % difference: 9.6%
12. Kingman
Percent of population 65-plus: 25.4%
Average monthly rent: $1,363
Annual cost for homeowner: $42,563
Annual cost for renter: $40,047
Annual % difference: 6.3%
13. Sierra Vista
Percent of population 65-plus: 21.8%
Average monthly rent: $1,357
Annual cost for homeowner: $42,922
Annual cost for renter: $38,373
Annual % difference: 11.9%
Methodology: For this study, MoneyLion analyzed America's top retirement destinations to find out if owning or renting is more affordable. First MoneyLion isolated retirement destinations using the U.S. Census ACS by finding places with a total population of at least 25,000 and the percentage of the population ages 65 and over of at least 20%. The total households and median household income were also sourced from the U.S. Census ACS. The cost-of-living indexes were sourced from Sperling's BestPlaces and using the national average expenditure costs for all households, as sourced from the Bureau of Labor Statistics, the average expenditure costs can be calculated for each city. The single-family home value was sourced from Zillow Home Value Index for April 2026. Assuming a 10% down payment and using the national average 30-year fixed mortgage rate of 6.53%, as sourced from the Federal Reserve Economic Data on 6/4/26, the average mortgage can be calculated for each city. The average rental cost was sourced from Zillow Observed Rental Index. Using the average expenditure and mortgage, the total cost of living for homeowners was calculated. Using the average expenditure and rent, the total cost of living for renters was calculated. The dollar and percentage differences between the cost of living for renters and homeowners was calculated. The livability index was sourced from AreaVibes and included as supplemental information. The cities were sorted by the highest percentage of the population ages 65 and over, showing the most popular retirement destinations. All data is up to date as of June 4th, 2026.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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