Home Affordability in Chandler, AZ
The median home price in Chandler is $480,000 with a median household income of $85,539. Housing is significantly stretched relative to local incomes.
Median Home Price
$480,000
Median Income
$85,539
Price-to-Income Ratio
5.6x
Est. Affordable Home
$333,000
Property Tax Rate
0.57%
Annual Property Tax
$2,736
Sales Tax Rate
7.80%
Cost of Living Index
108
Buying a Home in Chandler
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $85,539 in Chandler can afford a monthly housing payment of approximately $1,996. This translates to a home price of roughly $333,000, which is below the median home price of $480,000 — many households may need a higher income, larger down payment, or should consider more affordable neighborhoods.
Property taxes on a median-priced home in Chandler would be approximately $2,736 per year ($228/month) at the effective rate of 0.57%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $14,400 | $465,600 | Yes |
| 5% | $24,000 | $456,000 | Yes |
| 10% | $48,000 | $432,000 | Yes |
| 20% | $96,000 | $384,000 | No |
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