# Buying a home in Phoenix: property taxes, payments and Open Doors help

> Phoenix mortgage numbers: a $455,000 median home, a 0.4% effective property tax, no transfer tax and City of Phoenix Open Doors help.

URL: https://mail.mortgage-math-us.com/location/phoenix-az/  
Last reviewed: 2026-10-29 · By the MortgageMath US Editorial team

## Quick answer

The median owner-occupied home in Phoenix is worth $454,900. With 10% down at the 7.24% national average rate, it costs about **$3,332 a month**, and property tax at the city’s effective 0.4% is $152 of that. Arizona has no real estate transfer tax, and the City’s Open Doors program lends first-time buyers up to **10% of the price** for homes up to $470,250.

## Key facts

| Fact | Value | Source | As of |
|---|---|---|---|
| Median home value, Phoenix | $454,900 | [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25077?g=160XX00US0455000) | 2024 ACS 1-year |
| Effective property tax rate | 0.4% | [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25103?g=160XX00US0455000) | 2024 ACS 1-year |
| Median property tax paid | $1,816/yr | [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25103?g=160XX00US0455000) | 2024 ACS 1-year |
| Homes lived in by their owners | 57.6% | [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25003?g=160XX00US0455000) | 2024 ACS 1-year |
| Arizona real estate transfer tax | 0% | [Arizona Constitution, Art. IX §24](https://www.azleg.gov/viewDocument/?docName=http://www.azleg.gov/const/9/24.htm) | Oct 28, 2026 |
| Open Doors help, up to (share of price) | 10% | [City of Phoenix Housing Department: Open Doors fact sheet](https://web-prod.phoenix.gov/content/dam/phoenix/housingsite/documents/homeownership/Open_Doors_Fact_Sheet_Eng.pdf) | Aug 25, 2026 |
| Open Doors price limit | $470,250 | [City of Phoenix Housing Department: Open Doors fact sheet](https://web-prod.phoenix.gov/content/dam/phoenix/housingsite/documents/homeownership/Open_Doors_Fact_Sheet_Eng.pdf) | Aug 25, 2026 |

## Phoenix property taxes against other big cities

Phoenix has the lowest effective property tax rate among the 20 large cities we cover: 0.4% of value, and the median owner pays $1,816 a year — the smallest bill of the group. Arizona as a whole has the fourth-lowest ratio of any state at 0.43%.

On the median-priced home, property tax runs $186 a month less than it would at the national ratio of 0.89%. At this tax level, principal and interest make up 84% of the median home’s monthly payment. Your actual bill depends on the county’s assessment and the school, city and special districts that tax the parcel, so check the listing’s last bill.

## A city where more households own

More Phoenix households own than rent: 57.6% of occupied homes are owner-occupied, the highest share among the cities we cover, though below the 67.8% across Arizona.

*City of Phoenix compared with Arizona and the US (Census ACS 2024 1-year)*

| | Phoenix | Arizona | United States |
|---|---:|---:|---:|
| Median home value | $454,900 | $426,000 | $360,600 |
| Median household income | $85,246 | $81,486 | $81,604 |
| Home value ÷ income | 5.3× | 5.2× | 4.4× |
| Effective property tax rate | 0.4% | 0.43% | 0.89% |
| Homes lived in by their owners | 57.6% | 67.8% | 65.3% |
| Median gross rent | $1,712/mo | $1,672/mo | $1,487/mo |
| Median year built | 1986 | 1994 | 1981 |

The median Phoenix home is above the Arizona median. Figures cover the City of Phoenix only; Scottsdale, Mesa and the other Valley cities have their own prices and tax rates.

## The monthly payment on a median Phoenix home

> **Worked example: $454,900 home, 10% down, 30-year fixed at 7.24%**
>
> | Part of the payment | Monthly |
> |---|---:|
> | Principal and interest on $409,410 | $2,790 |
> | Property tax at 0.4% | $152 |
> | Homeowners insurance at $4.90 per $1,000 (national average) | $186 |
> | PMI (midpoint of Freddie Mac’s range) | $205 |
> | **Total** | **$3,332** |
> 
> Insurance uses Freddie Mac’s national figure per $1,000 of value; get a real quote for the address. Many Phoenix neighborhoods also carry HOA dues, which are extra.

Open the [mortgage payment calculator](https://mail.mortgage-math-us.com/tools/mortgage-payment-calculator/?price=455000&down=10&tax=0.4&state=AZ) to change the price, down payment or rate.

## Open Doors: Phoenix’s down-payment loan

The City of Phoenix Housing Department’s Open Doors program helps first-time buyers (as FHA defines them) with up to 10% of the purchase price, based on need. The rules:

- Household income at or below 80% of area median income.
- A home inside Phoenix city limits priced at or below $470,250.
- At least $1,000 of your own money, or more if the first-mortgage lender requires it.
- An 8-hour pre-purchase homebuyer education class plus housing counseling.
- An interest-free deferred loan with no monthly payments, fully forgiven after an affordability period of up to 15 years; selling, moving out or refinancing sooner triggers repayment.

The city’s median value is $15,350 under the price limit. The city says reservations for funding are limited, so ask an approved lender whether money is available before you write an offer.

> **Worked example: Cash to close at $454,900 with and without Open Doors**
>
> | | 10% down on your own | With Open Doors at the maximum |
> |---|---:|---:|
> | Down payment from you | $45,490 | $1,000 minimum |
> | Down payment from Open Doors | $0 | $45,490 |
> | Closing costs ($2–$5 per $100) | $9,098–$22,745 | Same |
> 
> Because the Open Doors loan has no monthly payment, the payment stays close to the 10% down figure above while your cash outlay drops sharply.

## No transfer tax in Arizona

Arizona’s constitution bars real estate transfer taxes, so neither the state nor Phoenix adds one at closing; you pay recording fees, title insurance, lender charges and prepaid items. With no transfer tax, closing costs on the median home tend to sit nearer the low end of the CFPB’s 2%–5% range, about $9,098–$22,745. The [closing cost calculator](https://mail.mortgage-math-us.com/tools/closing-cost-calculator/?state=AZ&price=454900) estimates the pieces.

## What a Phoenix paycheck supports

The median Phoenix household earns $85,246. Using Freddie Mac’s guideline of keeping housing under 30% of gross income, that is a $2,131 monthly budget — enough for about **$291,000** with 10% down at today’s average rate, $163,900 below the median value. Covering the median home within the guideline takes about $133,000 a year. The [affordability calculator](https://mail.mortgage-math-us.com/tools/affordability-calculator/?state=AZ&income=85246) shows the range across debt-to-income limits.

Summer heat drives up cooling bills, so ask for a year of utility history along with the HOA documents. To compare markets, see [Denver](https://mail.mortgage-math-us.com/location/denver-co/) and [Las Vegas](https://mail.mortgage-math-us.com/location/las-vegas-nv/); statewide programs are on the [Arizona guide](https://mail.mortgage-math-us.com/location/arizona/). The [rent vs buy calculator](https://mail.mortgage-math-us.com/tools/rent-vs-buy-calculator/?state=AZ&price=455000&rent=1712&tax=0.4) starts at the city’s median rent of $1,712/mo.

## Frequently asked questions

### What is the property tax rate in Phoenix?

Census figures put the median Phoenix owner’s bill at $1,816 a year, an effective rate of about 0.4% of home value, compared with 0.43% for Arizona and 0.89% nationally.

### Is there a transfer tax when buying a house in Phoenix?

No. Arizona’s constitution bars real estate transfer taxes, so buyers and sellers in Phoenix pay recording and title costs but no transfer tax.

### What is the Open Doors program in Phoenix?

It is the City of Phoenix’s down payment assistance for first-time buyers earning up to 80% of area median income: up to 10% of the price as an interest-free deferred loan, forgiven after the affordability period, for homes up to $470,250 inside city limits.

### What is the median home price in Phoenix?

The Census Bureau’s 2024 American Community Survey puts the median value of owner-occupied homes in Phoenix at $454,900, against $426,000 for Arizona and $360,600 for the US.

### How much income do I need to buy a house in Phoenix?

To keep the $3,332 monthly cost of the median home with 10% down under 30% of gross income, you would need about $133,000 a year with no other large debts.

### Do I need homebuyer education for Open Doors?

Yes. Buyers complete an 8-hour pre-purchase homebuyer education class and one-on-one counseling with a HUD-approved agency.

## Sources

- [Freddie Mac Primary Mortgage Market Survey](https://www.freddiemac.com/pmms) — 30-year fixed rate, national weekly average (Week of Oct 29, 2026)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25077?g=160XX00US0455000) — Median value of owner-occupied homes (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B19013?g=160XX00US0455000) — Median household income (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25103?g=160XX00US0455000) — Effective property tax rate (median taxes ÷ median home value); Median real estate taxes paid by homeowners (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25064?g=160XX00US0455000) — Median gross rent (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25003?g=160XX00US0455000) — Share of occupied homes lived in by their owners (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25077?g=040XX00US04) — Median value of owner-occupied homes (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B19013?g=040XX00US04) — Median household income (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25003?g=040XX00US04) — Share of occupied homes lived in by their owners (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25077?g=010XX00US) — Median value of owner-occupied homes (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B19013?g=010XX00US) — Median household income (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25103?g=010XX00US) — Effective property tax rate (median taxes ÷ median home value) (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25003?g=010XX00US) — Share of occupied homes lived in by their owners (2024 ACS 1-year)
- [Freddie Mac Research](https://www.freddiemac.com/research/insight/homeowners-insurance-costs) — Average homeowners insurance premium per $1,000 of home value (2023 data)
- [Freddie Mac My Home](https://myhome.freddiemac.com/buying/breaking-down-pmi) — Typical PMI cost, low end; Typical PMI cost, high end (Oct 28, 2026)
- [Freddie Mac My Home](https://myhome.freddiemac.com/blog/homebuying/how-much-can-you-afford) — Freddie Mac guidance: housing costs below this share of gross income (Jan 22, 2026)
- [CFPB](https://www.consumerfinance.gov/owning-a-home/prepare/figure-out-how-much-you-want-to-spend/) — Typical closing costs, low end (share of purchase price); Typical closing costs, high end (share of purchase price) (Oct 28, 2026)
- [City of Phoenix Housing Department: Open Doors fact sheet](https://web-prod.phoenix.gov/content/dam/phoenix/housingsite/documents/homeownership/Open_Doors_Fact_Sheet_Eng.pdf) — City of Phoenix Open Doors down payment assistance, up to (share of the purchase price); Open Doors maximum purchase price; Open Doors minimum investment from the buyer (Aug 25, 2026)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25103?g=040XX00US04) — Effective property tax rate (median taxes ÷ median home value) (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25064?g=040XX00US04) — Median gross rent (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25064?g=010XX00US) — Median gross rent (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25035?g=160XX00US0455000) — Median year homes were built (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25035?g=040XX00US04) — Median year homes were built (2024 ACS 1-year)
- [US Census Bureau, American Community Survey 2024 1-year](https://data.census.gov/table/ACSDT1Y2024.B25035?g=010XX00US) — Median year homes were built (2024 ACS 1-year)
- [City of Phoenix Housing Department: Homeownership Opportunities](https://www.phoenix.gov/administration/departments/housing/housing-options/homeownership-opportunities.html) — Open Doors period of affordability, up to (depends on the loan amount) (Oct 29, 2026)
- [Arizona Constitution, Art. IX §24](https://www.azleg.gov/viewDocument/?docName=http://www.azleg.gov/const/9/24.htm) — State real estate transfer tax (Oct 28, 2026)
- [City of Phoenix Housing Department: Homeownership Opportunities](https://www.phoenix.gov/administration/departments/housing/housing-options/homeownership-opportunities.html)
- [City of Phoenix: Open Doors fact sheet](https://web-prod.phoenix.gov/content/dam/phoenix/housingsite/documents/homeownership/Open_Doors_Fact_Sheet_Eng.pdf)

_General information, not financial advice._