Home Affordability in Tucson, AZ
The median home price in Tucson is $300,000 with a median household income of $44,798. Housing is significantly stretched relative to local incomes.
Median Home Price
$300,000
Median Income
$44,798
Price-to-Income Ratio
6.7x
Est. Affordable Home
$174,000
Property Tax Rate
0.68%
Annual Property Tax
$2,040
Sales Tax Rate
8.60%
Cost of Living Index
93
Buying a Home in Tucson
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $44,798 in Tucson can afford a monthly housing payment of approximately $1,045. This translates to a home price of roughly $174,000, which is below the median home price of $300,000 — many households may need a higher income, larger down payment, or should consider more affordable neighborhoods.
Property taxes on a median-priced home in Tucson would be approximately $2,040 per year ($170/month) at the effective rate of 0.68%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $9,000 | $291,000 | Yes |
| 5% | $15,000 | $285,000 | Yes |
| 10% | $30,000 | $270,000 | Yes |
| 20% | $60,000 | $240,000 | No |
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