Quick Answer: How Much Does It Cost To Buy A House In Arizona?

What are the cheapest cities to live in Arizona?

Cheapest Places to Live in ArizonaFlagstaff.

This quiet mountain town is one of the coziest places you can find in Arizona.

Chandler.

This is one of the most popular cities in the United States, and, as it continues to grow, the affordability is one of Chandler’s best selling points.

Oro Valley, Tucson.

Gilbert.

Prescott..

What are the requirements to buy a house in Arizona?

What credit score is needed to buy a house?FHA Loan – 580+ (500-579 is possible but unlikely)VA Loan – 620+ (some lenders require 580)USDA Loan – 640+Conventional Loan – 620+

What is the minimum credit score to buy a house in Arizona?

640Most of the Arizona down payment assistance programs require that you have a minimum credit score of 640. If your score is below 640, don’t worry.

Why are houses so cheap in Arizona?

The area is made up of other smaller cities such as Glendale, Mesa, Tempe, and many more. These small cities have their residential areas, thus offering more flexibility to the residents. The economy becomes the last major reason why these houses sell at low prices.

How much money do you need to live comfortably in Arizona?

According to the site, the income needed in Phoenix is $48,876. The article considers 50 percent for necessities, 30 percent for discretionary spending and 20 percent for savings. In Tucson, the income required is $39,966 and is the lowest number of the 50 cities. For Mesa, the needed income is listed as $42,654.

What is a good salary in Arizona?

Arizona Average While ZipRecruiter is seeing salaries as high as $126,363 and as low as $19,047, the majority of Average salaries currently range between $45,992 (25th percentile) to $68,756 (75th percentile) with top earners (90th percentile) making $83,622 annually in Arizona.

Is living in Arizona cheaper than California?

The cost of housing, utilities, transportation, and health care are drastically cheaper in Arizona. Furthermore, California has some of the highest income tax rates in the country, nearly double the state income tax of Arizona.

How much money do you need to buy a house in Arizona?

Recommended Minimum SavingsMinimum Down Payment$8,750Closing Costs$8,494Estimated Cash Needed to Close$17,244Recommended Cash Reserve$4,467Total Recommended Savings$21,711

Is 50k a year good in Arizona?

You can live comfortably on $40-$50k in most parts of town, even less in other areas. Newer areas and in-demand areas would probably require $60k+ to live well. It’s pretty subjective. I live in Phoenix and make significantly more than average yet still find a way to not be comfortable.

What can kill you in Arizona?

11 venomous animals of ArizonaRattlesnake. The Desert Diamondback Rattlesnake is in striking position. … Arizona Coral Snake. Coral Snake (Source: University of Arizona) … Gila Monster. … Africanized Bees – Killer Bees. … Arizona Brown Recluse spider. … Tarantula. … Desert Centipede. … Kissing Bug.More items…•

Where do the rich live in Arizona?

PHOENIX — The richest city in Arizona might not come as a shock to you. Paradise Valley was ranked as the richest city in Arizona, according to Business Insider, with an average median income of $176,000 per household.

How can I buy a house with no down payment in Arizona?

Buying a House in Arizona with Zero Down PaymentUSDA Loans – It is issued by the U.S. Department of Agriculture (USDA) through its Rural Development Guaranteed Housing Loan Program. … VA Loans – It is issued by the U.S. Department of Veteran Affairs for veterans, members in service and the surviving spouses of members.

Is it a good time to buy a home in Arizona 2020?

The Arizona housing market is a very good place to be, just maybe not at the moment. … While some homes are for sale, their high prices make them unattractive or unattainable for many buyers in Arizona. The demand is expected to remain high in 2020, but supply is suspected to remain inadequate.

How much is a downpayment on a house in Arizona?

While conventional loans require a 20% down payment, you’ll only need to put down 3.5% of your home’s value. You must have a credit score of at least 580 on the FICO® scale to get that 3.5% down payment, though. If your score falls anywhere between 500 and 580, you’ll need to make a down payment closer to 10%.

Where is the cheapest place to buy a house in Arizona?

10 Most Affordable Places to Live in ArizonaOro Valley. One of the most attractive suburbs of Tucson, Oro Valley is a fast-growing community in the heart of the breathtaking Sonoran Desert. … Gilbert. Gilbert, Arizona is a young, vibrant community fueled by a strong economy. … Ahwatukee Foothills. … Flagstaff. … Avondale. … Chandler. … Prescott. … Coolidge.More items…•