Estimate your monthly mortgage payment in Arizona — principal & interest plus Arizona property tax and homeowner’s insurance.
Buying a home in Arizona: what to know
Arizona offers Sun Belt affordability with guardrails: a $417,990 statewide typical value (Zillow ZHVI, Aug 2026, down ~1.8% YoY) and a 0.55% median effective property tax rate (Tax Foundation, Facts & Figures 2026) — among the nation’s lowest, thanks to the Class 3 10%-of-limited-value assessment. With a median home price of $417,990, 20% down means borrowing about $334,392 — within the 2026 conforming limit of $832,750 in all 15 Arizona counties. Property taxes run about 0.55% of assessed value, and insurance averages $1,018 a year statewide — both baked into the calculator above. First-time buyers should check out the HOME Plus Home Loan Program (up to 4% DPA, forgiven after 5 years) and Arizona Is Home before shopping lenders.
Arizona mortgage facts
| Fact | Figure |
|---|---|
| 2026 conforming loan limit (1-unit) | $832,750 |
| Median home price | $417,990 |
| Median effective property tax rate | 0.55% |
| Average homeowner’s insurance | $1,018/year |
Data as of October 2026. Sources: FHFA (2026 conforming limits), Zillow ZHVI (Aug 2026), Tax Foundation (Facts & Figures 2026 (2024 ACS data)), NAIC via Insurance Information Institute (2022 (published May 2025)); rate: 7.40% (Freddie Mac PMMS, week ending October 15, 2026)
Arizona first-time buyer programs
- HOME Plus Home Loan Program — 30-year fixed first mortgage plus up to 4% of the loan amount as a 0%-interest, no-payment deferred second mortgage, fully forgiven after 5 years; available statewide in all 15 counties. Official site
- Arizona Is Home — Below-market 30-year fixed plus 4% DPA for first-time buyers in rural Arizona (all counties except Maricopa, Pima, and Chino Valley); assistance is non-forgivable as of 2026. Official site
How to use this calculator
Start with Arizona’s median home price (pre-filled above) or type the price of a home you’re eyeing. The calculator assumes 20% down — the threshold that avoids private mortgage insurance on conventional loans — and applies Arizona’s median property tax rate and average insurance premium so the monthly figure reflects the true cost of owning, not just principal and interest. Arizona’s 0.55% effective rate is among the nation’s lowest, so the escrow portion stays small — but confirm the county levy for your specific area. Adjust the rate to a quote you’ve received; even half a point moves the payment by hundreds on an Arizona-priced home.
Worked example: a median Arizona home
Take a median-priced Arizona home at $417,990. With 20% down ($83,598.00), the loan amount is $334,392.00. At 7.40% (Freddie Mac PMMS, week ending October 15, 2026) on a 30-year fixed term, principal and interest come to $2,315.26/month. Add property tax of about $191.58/month (0.55% of $417,990, divided by 12) and insurance of about $84.83/month ($1,018 a year), for a total estimated payment of $2,591.67/month. Over 30 years, total interest would be about $499,102.56. Your rate, down payment, and county tax bill will move these numbers — use the calculator above with your own figures.
What is the conforming loan limit in Arizona for 2026?
The 2026 conforming loan limit for a one-unit property is $832,750 in all 15 Arizona counties — Arizona has no high-cost counties — per the FHFA’s November 2025 announcement.
How much are property taxes in Arizona?
The median effective property tax rate in Arizona is about 0.55% of a home’s assessed value (Tax Foundation, Facts & Figures 2026 (2024 ACS data)). On a $417,990 home, that’s roughly $2,299 a year, or $191.58 a month — already included in the calculator above. Actual bills vary by county and municipality.
How does Arizona’s property tax assessment work?
Arizona taxes owner-occupied homes as Class 3 property assessed at just 10% of limited property value (vs. 15.5% for commercial). Taxes are levied on limited property value, which is capped at the prior year’s LPV plus 5% — shielding homeowners from assessment spikes even when market values surge.
Is the HOME Plus down payment assistance really forgiven?
Yes — HOME Plus provides up to 4% of the loan amount as a 0%-interest, no-payment deferred second mortgage that is fully forgiven after 5 years, available statewide in all 15 counties. The separate Arizona Is Home program (rural counties) is non-forgivable as of 2026.
Is Arizona’s housing market cooling?
The statewide typical value of $417,990 (Zillow ZHVI, Aug 2026) was down about 1.8% year over year, with Phoenix-metro buyers seeing more inventory and negotiating room than in recent years.