Mortgage Affordability Calculator for Arizona (AZ) — Free Calculator

Buying a Home in Arizona: What You Can Afford

The median home value in Arizona is $320,000. Phoenix metro saw among the largest gains in the US 2020-2022, up 50%+, followed by a 2023 correction. Values have stabilized around 2022 peaks.

Conforming Loan Limits in Arizona

The conforming loan limit in Arizona is $726,200. Most Arizona counties are at the standard conforming limit. Scottsdale and parts of Maricopa County approach this ceiling. Loans above this threshold are considered jumbo loans and typically carry stricter qualification requirements and slightly higher rates.

Property Taxes to Budget For

Beyond your mortgage payment, budget for Arizona's property taxes: the effective rate is 0.62%, meaning a home at the median value generates about $1,648/year in taxes. This is a real cost that lenders include in your debt-to-income (DTI) calculation.

Closing Costs in Arizona

Buyers typically pay around $2,600 in closing costs in Arizona. Arizona imposes no mortgage recording tax. Title insurance and escrow fees are the primary closing cost components. Factor this into your upfront cash requirement alongside your down payment.

Data: Tax Foundation (2024), US Census Bureau ACS 2023, Zillow, ATTOM Data Solutions. Updated 2024–2025. Figures reflect state averages — consult a licensed professional for personalized advice.

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Frequently Asked Questions

What is the median home price in Arizona?

The median home value in Arizona is $320,000. Phoenix metro saw among the largest gains in the US 2020-2022, up 50%+, followed by a 2023 correction. Values have stabilized around 2022 peaks.

What is the conforming loan limit in Arizona?

The conforming loan limit in most of Arizona is $726,200. Most Arizona counties are at the standard conforming limit. Scottsdale and parts of Maricopa County approach this ceiling.

How much are property taxes in Arizona?

Arizona's effective property tax rate is 0.62%, with an average annual bill of $1,648. Lenders include property taxes in your monthly PITI payment and DTI calculation.

How much do I need for a down payment in Arizona?

For a home at Arizona's median value of $320,000, a 20% conventional down payment is $64,000, and a 3.5% FHA down payment is $11,200. Budget an additional $2,600 for closing costs.