For years, Arizona’s low cost of living and housing in Arizona made it a draw for people from all over the country.

But Arizona is no longer the state it once was.

According to a new Arizona State University study, the cost of living has increased and now surpasses the national average. And although new home construction hit a record high in 2023, the cost of housing outpaced increases in earnings, causing home purchases to decline 22% compared with 2022.

The Morrison Institute is a nonpartisan think tank dedicated to producing objective research on critical policy issues. The public policy research institute is housed within ASU’s Watts College of Public Service and Community Solutions.

More than 200 people including elected officials from throughout Arizona attended the event.

The

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