CALCMONEY // HOME AFFORDABILITY // AZ // MESA
How much house can you afford in Mesa? Based on local median home prices, current AZ mortgage rates, and Mesa property tax data.
$390,000
$2,438/mo
$104,500/yr
$215,071
Monthly housing costs of $2,438 represent 45.0% of Mesa's median gross monthly income ($5,417/mo). At 45.0%, median-income buyers in Mesa are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $390,000 |
| Down Payment (20%) | $78,000 |
| Loan Amount | $312,000 |
| Monthly PI Payment | $2,055 |
| Monthly Property Tax | $221 |
| Monthly Insurance Est. | $163 |
| Total Monthly PITI | $2,438 |
| Housing Cost % of Income | 45.0% |
| Required Income (28% rule) | $104,500/yr |
| Max Affordable Home | $215,071 |
$13,650
$3,129/mo
Mesa Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $390,000 | Mesa city median |
| Down Payment (20%) | $78,000 | Conventional loan |
| Monthly PITI | $2,438 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $104,500 | Annual gross |
| Max Affordable Home | $215,071 | Based on median income |
| FHA Down (3.5%) | $13,650 | Minimum FHA |
| Housing Cost % of Income | 45.0% | Median income: $65,000/yr |
| Property Tax Rate | 0.68% | $2,652/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Mesa is $390,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $312,000, generating a monthly P&I payment of $2,055. Adding property taxes ($221/mo) and homeowners insurance ($163/mo) brings total monthly PITI to $2,438.
Mesa's property tax rate of 0.68% is among the lower rates in the country, which improves overall affordability by keeping total PITI closer to the principal and interest payment alone. On the Mesa median home, that is $221/month, or $2,652 per year.
Arizona levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Mesa should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Mesa's median income of $65,000/year can afford up to $1,517/month in total housing costs. Based on Mesa's mortgage rate of 6.9% and property tax rate of 0.68%, that translates to a maximum affordable home price of approximately $215,071 with 20% down on a 30-year loan.
To afford the median Mesa home priced at $390,000, you need an annual gross income of approximately $104,500. Total monthly housing costs (principal and interest of $2,055, property taxes of $221, and insurance of $163) come to $2,438/month, which equals 28% of the required income.
At the median home price of $390,000 and median household income of $65,000, the total monthly housing cost of $2,438 represents 45.0% of gross monthly income. This is well above the standard 28% threshold, making Mesa a challenging market for buyers at median income.
A conventional 20% down payment on the median Mesa home of $390,000 is $78,000. An FHA loan requires just 3.5% down — $13,650 — but adds mortgage insurance of roughly $267/month, bringing total FHA payments to $3,129/month.