Can I Afford a $100K Home in Arizona?
Complete mortgage breakdown for a $100,000 home in Arizona, including monthly payments, property taxes, insurance, and the salary you need to qualify.
Monthly Payment by Down Payment
| Down Payment | Amount | Monthly | Income Needed |
|---|---|---|---|
| 3% | $3,000 | $871 | $37,327 |
| 5% | $5,000 | $857 | $36,729 |
| 10% | $10,000 | $822 | $35,232 |
| 20% | $20,000 | $719 | $30,809 |
Monthly Cost Breakdown (Arizona)
Affordability Rules of Thumb
Buying a $100K Home in Arizona
A $100,000 home in Arizona is at or below the national median home price. With a 20% down payment of $20,000, your estimated monthly payment of $719 is achievable on a salary of $30,809 or more. Arizona's property tax rate of 0.62% is relatively low, helping keep costs down.
These estimates assume a 6.875% 30-year fixed mortgage rate. Use our mortgage calculator for custom scenarios, or check what salary you can afford in Arizona.
Other Home Prices in Arizona
$100K Homes in Other States
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Savings benchmarks and projections for someone at this income.
Frequently Asked Questions
How much is a mortgage on a $100K home in Arizona?
With 20% down on a $100K home in Arizona, your estimated monthly payment is $719 including principal, interest (6.875%), property taxes (0.62%), and homeowners insurance.
What salary do you need for a $100K house in Arizona?
To afford a $100K home in Arizona with 20% down, you'd need a household income of approximately $30,809 per year, using the 28% rule (housing costs should not exceed 28% of gross income).
How much are property taxes on a $100K home in Arizona?
Property taxes on a $100K home in Arizona are approximately $620 per year ($52/month), based on the average effective property tax rate of 0.62%.
What is the total cost of a $100K home in Arizona over 30 years?
The total cost of a $100K home in Arizona over 30 years includes the down payment of $20,000 plus $719 monthly for 360 months. This totals approximately $278,795, including all property taxes, insurance, and interest.
Is PMI required on a $100K home in Arizona?
No, PMI is not required because you're putting down 20% or more. However, if you put down less than 20%, PMI typically adds ~0.5% of the loan amount annually to your monthly payment.