What’s the average mortgage payment in Arizona?

According to data collected from Redfin and Rocket Mortgage, the average monthly mortgage payment in Arizona is around $2,224 before property taxes and insurance. Arizona’s steady population growth and out-of-state buyers have boosted the state’s housing market has grown substantially over the past several years. Because home prices have risen faster than many parts of the country, Arizona’s average mortgage payment now sits above the national average.

Overview of the Arizona housing market

The median sale price in Arizona is approximately $445,700 as of October 2025, according to Redfin data. Prices have increased gradually year-over-year as demand continues to outpace supply, especially in the Phoenix metro area, where migration from higher-cost states remains strong.

Here’s a snapshot of recent median sale prices from Redfin:

Factors that influence mortgage payments in Arizona

Your monthly mortgage payment consists of principal, interest, taxes, and insurance (PITI). Tools like the Rocket Mortgage^® mortgage calculator allow buyers to see how these costs shift based on home price, down payment, and mortgage rate.

Home price and down payment

Arizona’s median home price is above the U.S. average, so buyers often face higher loan amounts than in many other states. Based on the mortgage calculator, a median-priced home of $445,700 with 20% down and a 30-year fixed rate would result in a monthly payment of $2,254 when only factoring in principal and interest payments.

Smaller down payments can raise monthly costs significantly. Borrowers putting down less than 20% will typically pay private mortgage insurance (PMI), which can add $100–$300 per month depending on credit score, loan program, and property type.

Mortgage rate

Your mortgage rate is influenced by:

• Credit score and history
• Debt-to-income ratio (DTI)
• Down payment
• Loan type
• Property type
• Current interest rate conditions

Even the slightest change in the rate can change a buyer’s monthly payment by hundreds of dollars, especially in higher-priced markets.

Loan term

Your loan term also plays a major role when it comes to mortgage payments, with most mortgages falling under the 15-year and 30-year categories. 30-year fixed mortgages come with slightly lower monthly payments than their counterparts, but the 15-year mortgage provides significant interest savings.

Property taxes and insurance

Arizona’s property taxes are among the lower rates in the country at around 0.52% of a home’s value, depending on the county and municipality.

Homeowners insurance varies by region. Areas prone to wildfire risk or severe heat may experience higher premiums. Insurance costs, when added to property taxes, can increase a homeowner’s monthly payment by several hundred dollars.

How do mortgage rates in Arizona compare to others in the region?

While mortgage rates don’t change much from one state to another, average mortgage payments vary widely due to different home values and tax structures. Arizona’s strong demand and rising home prices have led to higher average mortgage payments compared with several western states.

Here’s how Arizona’s average monthly payment compares to its neighbors:

Arizona is one of the more expensive markets in the region, outpacing all neighboring states except California in average monthly mortgage payment.

Counties with the highest mortgage payments in Arizona

County-level mortgage payments vary significantly due to differences in median home prices, local economies, and demand patterns. The highest payments typically come from fast-growing areas around Phoenix and in northern Arizona.

Below are Arizona’s counties with the highest estimated monthly mortgage payments, based on Q1 2025 NAR median prices:

Counties with the lowest mortgage payments in Arizona

More rural counties in Arizona offer significantly lower price points—and therefore lower mortgage payments.

How to calculate your mortgage payment

Lenders generally use a standard amortization formula built around the loan amount, interest rate, and loan term.

The Rocket Mortgage online mortgage calculator is a useful tool for modeling how different down payments, rates, and home prices impact monthly expenses. Buyers can also estimate property taxes and insurance to get a full picture of their total housing costs.

Arizona-specific mortgage resources

Arizona buyers have access to several statewide and local programs designed to reduce upfront costs or lower monthly mortgage payments:

• Arizona Department of Housing (ADOH) Home Plus Program: Offers down payment assistance and competitive fixed-rate mortgages for qualified buyers.
• Arizona Industrial Development Authority (AZIDA): Provides down payment assistance programs and reduced-rate loans targeted at first-time and lower-income homebuyers.
• Arizona is Home: Provides mortgage assistance for first-time home buyers in Pima and Maricopa counties.

Average mortgage payment in Arizona FAQ

Where can I find the lowest average mortgage payments in Arizona?

If you’re looking for the most affordable mortgage payments in the state, look no further than Apache County in the northwest corner of the state.

Which county has the highest average mortgage rate in Arizona?

Although it contains Arizona’s largest housing market, Maricopa County isn’t the most expensive area to buy a house. That distinction belongs to Coconino County, which houses Flagstaff, AZ and has the highest average mortgage rate in the state.

How much do you need to make to afford a home in Arizona?

Lenders often use the “28/36” rule, which means spending no more than 28% of gross monthly income on housing and no more than 36% on all monthly debts combined.

With Arizona’s average mortgage payment around $2,224, a buyer would ideally earn more than $8,000 per month, or roughly $96,000 per year, depending on other debts, down payment, and property taxes.

The bottom line: Multiple factors shape your mortgage payment in Arizona

Arizona’s rising home prices, strong housing demand, and moderate tax rates contribute to an average mortgage payment that is higher than many neighboring states. Counties like Maricopa and Coconino see some of the highest payments due to competitive job markets and limited inventory, while rural counties remain among the state’s most affordable.

Keeping track of local housing data and working with lenders to understand how much home you can afford will help you find a mortgage payment that fits your financial goals.

Whether you’re a first-time buyer or an experienced homeowner, getting prequalified for a loan with Rocket Mortgage can help you understand your buying power and begin your Arizona home search with confidence.

*Methodology: Average monthly mortgage payment in a region, calculated based on average home purchase price for a fixed 30-year loan and a 52-week average interest rate of 6.68% from Freddie Mac as of August 2025.