CALCMONEY // MORTGAGE // AZ // PHOENIX
Calculate your monthly mortgage payment using Phoenix-specific property tax rates and local market data.
$420,000
6.9%
0.7%
105
| Principal & Interest | $2,213 |
| Property Tax | $245 |
| Homeowners Insurance (est.) | $140 |
| Total Monthly Payment (PITI) | $2,598 |
$84,000
$460,643
$111,338/yr
Buying the median home in Phoenix means financing $420,000. Against the area's $67,000 median household income, that works out to a 6.3x price-to-income ratio.
At a 0.7% effective rate, Phoenix property taxes add $245 to the monthly payment on the median home, $2,940 a year in total.
Between the $2,598/month mortgage payment and Arizona's state income tax, your real housing cost calculation needs your after-tax number, not your gross salary.
Beyond housing, Phoenix's cost of living index sits at 105 (national average = 100), running above the national baseline for groceries, transportation, and everyday services.
Phoenix's median home price runs 42% higher than nearby Tucson: $295,000 there versus $420,000 here.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $336,000 loan saves $15,120 in interest over 30 years.
Compare Top Phoenix Mortgage LendersNeighborhood-level data for 1 ZIP codes in Phoenix. Rates, home prices, and estimated payments vary by area.