Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Arizona and Florida. Updated for 2026.
Arizona wins 6 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $380K and lower overall costs, Arizona offers meaningful savings compared to Florida. Both states offer first-time buyer programs — explore the state pages for full details.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI.
Buying in Arizona saves you approximately $352/month ($4,224/year) compared to Florida, based on median home prices with identical loan terms.
Home prices in Arizona and Florida are relatively close, with only a 4% difference ($15K). At similar price points, your decision should focus on the other cost factors: property taxes, insurance, closing costs, and the overall quality of life each state offers. Small percentage differences in tax rates compound over decades of homeownership.
Property tax rates are similar in both states (Arizona: 0.62%, Florida: 0.86%), so taxes shouldn't be the deciding factor in your relocation decision. Instead, focus on differences in home prices, insurance costs, and state-specific programs. Both states collect roughly comparable property tax revenue relative to home values.
Homeowners insurance is significantly cheaper in Arizona ($2,100/year) compared to Florida ($4,200/year). That's an extra $2,100 per year — or $175/month — eating into your budget in Florida. Florida's high insurance costs are often driven by severe weather risks (hurricanes, tornadoes, or wildfires), which also affect availability of coverage.
Both states offer down payment assistance for first-time buyers. Arizona's Home Plus AZ provides Up to 5% DPA grant, while Florida's Florida Hometown Heroes offers Up to 5% as 0% deferred loan. These programs can significantly reduce your upfront costs and make homeownership accessible even if you haven't saved a full 20% down payment. Check eligibility requirements on each state's housing finance agency website — income limits and purchase price caps apply.
The bottom line: insurance costs heavily tilt the scales. Florida homeowners pay $4,200/year for coverage versus $2,100 in Arizona — a $2,100 annual gap. If you're budgeting for a home in Florida, make sure to factor in this ongoing expense. It can make an otherwise affordable market surprisingly costly month-to-month.