Arizona Mortgage Calculator
This calculator pre-fills Arizona's local figures — a median home price near $430,000 (2% pricier than the U.S. median), property tax at 0.62% of home value per year (below the national average, roughly $222/month here), and typical homeowners insurance of about $195/month — so the estimate reflects buying in Arizona, not a generic national number. All told, a median-priced purchase with 20% down on a 30-year loan runs near $2,591/month before HOA dues or PMI. Adjust any input to match the home you're actually considering, and the tax and insurance lines recalculate with it.
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Amortization schedule
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Property taxes in Arizona
Arizona's effective property-tax rate is about 0.62% of a home's value each year — lower than the U.S. average of 1.1%. On the state's median home price of $430,000, that works out to roughly $2,666/year ($222/month) added to your payment.
Good to know: Arizona caps how fast a home's limited property value — the taxable base — can grow at 5% a year, which shields long-term owners in fast-appreciating Phoenix and Tucson from sudden tax spikes.
For the full formula and a worked example, see the main Mortgage Calculator.
Homeowners insurance in Arizona
Lenders require homeowners insurance, and in Arizona it averages about $2,344/year ($195/month) for a policy with $300,000 in dwelling coverage — 8% below the U.S. average of $2,543. Premiums are comparatively affordable here, though rates still vary with the home's age, construction and distance from a fire station. The calculator above already includes this figure in the monthly estimate — replace it with a real quote when you have one.
Buying a home in Arizona
A typical Arizona purchase looks like this: the median home at $430,000 — 2% pricier than the $420,000 U.S. median — bought with 20% down on a 30-year loan near 6.5% costs about $2,174/month in principal and interest. Property tax adds $222/month at the state's 0.62% effective rate (below the national average), and average homeowners insurance another $195/month, for an all-in figure around $2,591/month — before HOA dues or PMI if your down payment is under 20%. The calculator above uses these local defaults, so adjusting the price or rate recalculates the whole picture for Arizona.