Chicago · Registered nurse · $98,500 · One adult, renting a 1-bedroomSaved on this device

Chicago · Registered nurse · $98,500 · One adult, renting a 1-bedroom

Phoenix, AZ

Housing in Phoenix, AZ: Rent, Home Prices & Property Tax

$1,277/mo (1 bd) in Phoenix. Median home $401,400. Property tax 0.51%.

Compare vs Chicago Rank metros from PhoenixHow we figure this

Rent (1 bd): $1,277; /mo
Buy: $2,568; Mortgage, tax, insurance
Buying costs more: $1,291; /mo

State tax and rent

To buy

20% down payment$80,280
Mortgage at 6.5%$2,030
Property tax (0.51% of value)$171/mo · $2,047/yr
Insurance and upkeep$368
Monthly total$2,568

48.1% of renters spend 30% or more of income on rent. Census ACS 2023.

Months to 20% down

$2,575 left each month. About 32 months (2.7 years) to save $80,280.

Asking rent. Census median home price. 30-year fixed, 6.5%, 20% down. Not lending advice.

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