Sedona's median home price sits around $1.5 million, so a lot of buyers wonder what's realistic if they don't have a multi-million dollar budget. That's often when people start comparing Sedona to the Village of Oak Creek, which can open up more options for the same money.

The higher cost of housing here gives people the impression everything in Sedona is expensive, but that's not really the case. A lot of what makes this lifestyle special is free or close to it: hiking, biking, and exploring the red rocks only costs about $20 a year for a Red Rock Pass. Groceries, gas, and healthcare run comparable to the rest of the country, and Arizona doesn't carry the high property taxes you'll find in a lot of other states. Housing is really the main added cost, so it's worth looking at the whole picture rather than just the price of a home.

It really depends on the lifestyle you're after. Cottonwood and Cornville are the most popular choices since they're closest to Sedona, while Clarkdale is a bit further out. If you want more land, room for a ranch, or an orchard, Camp Verde is worth a look, with housing running roughly a half to a third of what you'd pay in Sedona and a lot more house and land for the money. All of these towns keep you within about 20 to 30 minutes of Sedona.