Phoenix Housing Market 2026
| Metric | Phoenix |
|---|---|
| Median Home Price | $389,000 |
| 20% Down Payment | $77,800 |
| Loan Amount (80% LTV) | $311,200 |
| Est. P&I @ 6.5% 30yr | $1,967/mo |
| Median Household Income | $63,119/year |
| State Income Tax | 2.5% |
Monthly Payment at Different Prices
| Home Price | 20% Down | P&I @ 6.5% | P&I @ 7% |
|---|---|---|---|
| $272,000 | $54,400 | $1,375/mo | $1,448/mo |
| $331,000 | $66,200 | $1,674/mo | $1,762/mo |
| $389,000 | $77,800 | $1,967/mo | $2,070/mo |
| $447,000 | $89,400 | $2,260/mo | $2,379/mo |
| $506,000 | $101,200 | $2,559/mo | $2,693/mo |
Calculate Your Exact Phoenix Mortgage
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What is the average home price in Phoenix?
The median home price in Phoenix is approximately $389,000 as of 2026.
Can I afford a home in Phoenix on $63,119?
With a median income of $63,119 and median home price of $389,000, the price-to-income ratio in Phoenix is 6.2×. Most financial advisors recommend a home price no more than 3–5× your annual income.
Related: PITI Calculator · PMI Calculator