Starting values: $426,000, which is the Arizona median (16th of 51), 20% down and a 7.40% rate. Monthly cost: $2,611.80 ($2,359.63 loan, $152.67 property tax, $99.50 homeowners insurance). Put 5% down and add PMI and it rises to $3,222.85.
Homestead exemptions and property tax relief
Arizona has no flat homestead exemption. A primary residence is assessed at a 10% ratio (Class 3), and the Homeowner's Rebate pays part of the school tax on owner-occupied homes. Qualifying seniors can apply to the county assessor for a Senior Valuation Protection freeze.
First-time buyer programs
The Arizona Industrial Development Authority's HOME Plus program provides up to 4% of the loan as a 0% second lien, forgiven after five years. It is offered in every county year-round and is not limited to first-time buyers, with a statewide income limit of $155,386. One borrower must take homebuyer education.
Transfer and recording taxes
Arizona has no real estate transfer tax. A deed is recorded with an Affidavit of Property Value, and the recorder charges a small fee per document.
Closing costs to plan for
With no transfer tax and low property taxes, buyer cash is mostly lender charges, title and escrow, plus HOA transfer and capital fees where they apply. Those HOA fees can be several hundred dollars or more.
When property tax bills are due
Arizona county treasurers bill property tax in September. Half is due October 1 and becomes delinquent after 5 p.m. on November 1; the other half is due March 1 and is delinquent after 5 p.m. on May 1. If the year's tax is $100 or less, it is all due October 1 and delinquent after December 31. Paying the full year by December 31 wipes out any interest accrued after November 1.
Before you buy in Arizona
Assessors mail notices of value between January and the end of February, and you have 60 days from the notice to file a first-level appeal. Owners 65 and older who meet the income and two-year residency rules can apply for the Senior Valuation Protection Option, which freezes the full cash value for three years at a time. Owner-occupied homes are classified as Class 3, which gets the Homeowner's Rebate on primary school taxes. If the county has the home listed as a rental or second home, ask the assessor to change the classification after you move in.
2026 loan limit in Arizona
FHFA 2026 one-unit conforming limits: no county is high-cost, so $832,750 applies statewide. So $340,800, the 80% loan on a median home, needs no jumbo financing.
Arizona numbers used above
| Measure | Arizona | U.S. |
|---|---|---|
| Median home value (ACS 2024) | $426,000 | $360,600 |
| Effective property tax rate | 0.43% (48th highest) | 0.89% |
| Average HO-3 premium (NAIC 2023) | $1,194 | $1,737 |
| Median household income | $81,486 | $81,604 |
| Median gross rent | $1,672 | $1,487 |
| Income needed at 28% (20% down) | $111,934 | – |
Frequently asked questions
When are Arizona property taxes due?
Half on October 1 (delinquent after November 1) and half on March 1 (delinquent after May 1).
How do I appeal my Arizona valuation?
File with the county assessor within 60 days of the notice of value, which is mailed by the end of February.
Can Arizona seniors freeze their home value?
Yes. The Senior Valuation Protection Option freezes full cash value for three years for owners 65 and older who meet income and residency rules.
What is the median-home payment in Arizona?
About $2,611.80 a month on a $426,000 home with 20% down at 7.40%, including tax and insurance.
Sources
- A.R.S. 42-18052
- ADOR, annual legal calendar
- Arizona IDA HOME Plus income limit
- ADOR, Senior Valuation Protection
- A.R.S. 15-972 (Homeowner's Rebate)
- Arizona IDA, HOME Plus
- Arizona Department of Revenue
- FHFA, 2026 conforming loan limits
- Census ACS 2024 1-year (B25077, B25103, B19013, B25064); NAIC homeowners report (2023); Freddie Mac PMMS.
See also: all states · house affordability · Arizona paycheck