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
The median home price in Phoenix is $420,000, above the national median of $420,000. With a median household income of $67,000, the price-to-income ratio is 6.3x — meaning buyers typically spend 6.3 years of gross income on the purchase price.
Property taxes in Phoenix run 0.7% of assessed value. On the median home, that is $2,940 per year, or $245 per month added to your mortgage payment. This is close to the national average of 1.1%.
Arizona has a state income tax. Factor your take-home pay into how much mortgage you can comfortably carry each month.
The cost of living index in Phoenix is 105 (national average = 100). Day-to-day expenses beyond housing are close to the national average.
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.