When you want to start your homebuying journey, it’s best to look at your personal finances and Arizona's tax rates. MoneyGeek found that the state’s average annual property tax is $1,446 while its real estate tax rate is 0.66%.
Finances are one of the main factors that individuals consider when buying a house. We found that a mortgage in Arizona is $43 cheaper than the national average. Meanwhile, the median home price in the state is $257,600.
However, the cost of your monthly mortgage payment is based on factors like your loan terms, down payment, interest rate and your home’s value. Other expenses include insurance, homeowners association fees and more. Using our Arizona mortgage calculator, you can see how much you’ll need to budget. We also break down how you can lower your monthly expenses.