Don't just grab whichever option seems cheaper upfront - the real difference comes down to how you actually live in that space. If you keep your bedroom door closed most of the time, an evaporative cooler (swamp cooler) will absolutely wreck a portable AC on efficiency and cost. They're basically just running a fan through wet pads, so your electric bill stays way lower. The catch though is they only work well when the air is genuinely dry, which Arizona definitely is, but they actually add moisture to the air. If you're someone who already feels sticky or you've got humidity issues from showers or anything like that, an evaporative cooler can make things feel clammy instead of cool.
Portable AC units pull moisture out as they work, which some people find more comfortable. They cost more to run because of the compressor, but they'll actually cool the space down faster and more aggressively if that matters to you. In super dry Arizona conditions though, you're paying extra for something you don't really need - the air is already taking care of the humidity part naturally. So yeah, an evaporative cooler is usually the smarter move in your situation, but it depends on whether that extra moisture bothers you. Some people in Arizona swear by them and never look back, others hate feeling damp. Worth maybe testing one out or talking to neighbors who've tried both before dropping money on either setup.