The median owner-occupied home value in Phoenix is $420,700 (Census ACS 2020–2024 5-year). FHA mortgage insurance premiums are set by HUD and are the same at every lender, so compare FHA lenders on rate, lender fees and points using their Loan Estimates.
Phoenix, Arizona: 2026 Market Data
📊 LOCAL MARKET DATA
- Median household income (Phoenix): $81,332
- Median owner-occupied home value (Census ACS 2020–2024 5-year): $420,700
- FHA share of mortgage originations (Maricopa County, HMDA 2025): 14.9%
- Conventional share of mortgage originations (Maricopa County, HMDA 2025): 77.6%
- Median real estate taxes paid by homeowners (Maricopa County, ACS 2024 5-year): $1,983 a year
Data from U.S. Census Bureau, HMDA
FHA Loans in Phoenix: 2026 Market Snapshot
If you're shopping for a home loan in Phoenix this year, it helps to know where the market stands. Phoenix's median owner-occupied home value is $420,700 (Census ACS 2020–2024 5-year). In 2025, 77.6% of Maricopa County mortgage originations were conventional loans, 14.9% were FHA and 7.4% were VA (CFPB/FFIEC HMDA). Both paths are common here, and the right fit depends on your own finances, your down payment, and the monthly payment you're aiming for. It's worth running the numbers more than one way before you commit. Maricopa County homeowners paid a median $1,983 a year in real estate taxes (Census ACS 2024 5-year), about 0.44% of the county's $452,800 median owner-occupied home value in the same survey. Several lenders are active in the Phoenix area, including Chase, Wells Fargo, and Desert Financial Credit Union. As with any major financial decision, gather quotes from more than one source, read the fine print closely, and ask plenty of questions before you sign anything.
Phoenix Mortgage Math: An Average-Size Loan at Current Rates
Take an example FHA loan equal to Maricopa County's average (mean) mortgage origination, $400,700 in 2025 (CFPB/FFIEC HMDA). Your principal and interest payment depends on the rate you lock on a 30-year fixed; the lender's Loan Estimate shows it to the dollar. But FHA loans carry both an upfront mortgage insurance premium and an annual MIP, so you'll add about $184 a month in the first year for that ongoing coverage (0.55% of $400,700, divided by 12). Layer in Maricopa County property taxes, which run on the lower side compared to many states, plus homeowners insurance that's gotten pricier thanks to Arizona's wildfire and heat-related risk profiles, and your full payment climbs well above principal and interest. Don't forget the upfront MIP of 1.75 percent gets rolled into the loan balance, which is why your financed amount may tick higher than the purchase price minus down payment. Knowing these layers ahead of time keeps you from being surprised at closing.
Maricopa County Data for Phoenix Home Buyers
Lenders reported 111,793 mortgage originations in Maricopa County in 2025, and 1.4% of the county's residential structures are in a FEMA special flood hazard area.
| Data point | Maricopa County | Source and date |
|---|---|---|
| Mortgage originations, 2025 | 111,793 | CFPB/FFIEC HMDA, 2025 data |
| Residential structures in a FEMA special flood hazard area | 20,901 of 1,510,831 (1.4%) | FEMA NFIP penetration rates, as of August 3, 2026 |
| NFIP policies in force in that area | 6,086 (29.1% FEMA penetration rate) | FEMA NFIP penetration rates, as of August 3, 2026 |
| Median household income | $89,300 | U.S. Census Bureau, ACS 2020–2024 5-year, table B19013 |
| Population | 4,559,748 | U.S. Census Bureau, ACS 2020–2024 5-year, table B01003 |
