How Much House Can I Afford in Phoenix, AZ?
Use local market data to estimate what you can afford in Phoenix. The median home value is $420,000 with a population of 1,620,000.
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FAQ — Buying in Phoenix
How much house can I afford in Phoenix?
The median home value in Phoenix is $420,000. At a 20% down payment ($84,000) and a 6.37% rate, the estimated P&I payment would be roughly $2,095 per month — before taxes and insurance. Use the calculator above with your actual income and debts for a personalized answer.
What is the 28/36 rule for buying a home in Phoenix?
The 28/36 rule suggests your housing payment should not exceed 28% of gross monthly income, and total debt payments should not exceed 36%. In Phoenix with a median home price of $420,000, this means your gross monthly income should ideally be at least $7,483 to keep housing comfortably within the 28% threshold.
How do Phoenix property taxes affect my affordability?
Maricopa County has an effective property tax rate of 0.55%, which adds approximately $193 per month to your housing cost on a median-priced home.
What 2026 loan limits apply in Phoenix?
In 2026, the FHA loan limit for Maricopa County is determined by HUD based on local median home prices. The conforming limit set by FHFA is at least $832,750 — loans above this are jumbo mortgages with different qualification standards. Higher-cost counties may have elevated limits.