Mortgage payment estimates, closing cost breakdowns, and homebuying data for Mesa, Arizona.
Median Home Price
$410K
Population
504K
Avg Monthly Rent
$1,480
Property Tax Rate
0.62% *
* Property tax shown is the Arizona state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Mesa.
Mesa vs Arizona Median
The median home price in Mesa is $410,000, which is 8% above the Arizona state median of $380,000.
Mortgage Calculator — Mesa, AZ
Pre-filled with Mesa median home price and Arizona tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $410K home using Arizona's 0.62% tax rate and $2,100/yr insurance.
5% Down
$3,076/mo
Down: $20,500
Loan: $390K
P&I: $2,462
Tax: $212
Insurance: $175
PMI: $227
10% Down
$2,934/mo
Down: $41,000
Loan: $369K
P&I: $2,332
Tax: $212
Insurance: $175
PMI: $215
20% Down (No PMI)
$2,460/mo
Down: $82,000
Loan: $328K
P&I: $2,073
Tax: $212
Insurance: $175
Income needed (28% rule): $105K/year with 20% down, $126K/year with 10% down.
Rent vs Buy in Mesa
Rent
$1,480/mo
vs
Buy (10% down)
$2,934/mo
Price-to-rent ratio: 23.1 — At a ratio above 20, renting may be more economical in Mesa for shorter stays. Buying costs $1,454 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Mesa is $410,000, 8% above the Arizona state median of $380,000. With a population of 504,258, Mesa is a major metro area where home prices reflect strong demand and local economic factors.
Property taxes in Arizona average 0.62% annually. This low property tax rate is a significant advantage for Mesa buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Arizona runs approximately $2,100 per year. This is within the normal range nationally.
Average rent in Mesa is $1,480/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Mesa is a higher-cost market. At $410K median, buyers need significant savings or strong income. Down payment assistance through Arizona's Home Plus AZ program becomes especially important.