How Much Does It Cost to Buy a House in Arizona?

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By Kristy Snyder Updated December 3, 2022


Costs to buy a house in Arizona | Arizona closing costs | Arizona house buying calculator | Homeownership costs | How to save when buying a home in Arizona

If you're buying a home in Arizona at the median price of $432,850, you'll like spend anywhere from $33,350 to $119,038.

These costs of buying a home in Arizona don't include your ongoing costs after closing. These are likely to range from $1,332 to $1,781 a month.

Are these costs more than you expected? One way to make your home purchase more affordable is by working with Clever Real Estate. We can match you with a top-rated Clever agent from well-known brokerages like Century 21, Keller Williams, and more. You'll receive excellent service and could also be eligible for up to 0.5% cash back after you close! If you buy an average-priced home in Arizona that equals about $2,164!

💰Buying a home is expensive💰

Put money back in your pocket with Clever Cash Back. Clever will connect you with a top, local agent and send you a check after closing.

✅ Work with a full-service realtor from a top broker

✅ Eligible buyers can get cash back

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Average cost to buy a house in Arizona

Expense Amount
Earnest money deposit (1-3%) $4,329 to $12,986
Down payment (3.5-20%) $15,150 to $86,570
Cash reserves $3,941 to $5,911
Closing costs (1.90%) $8,233
Inspection $217
Appraisal $230
Moving $1,250 to $4,890
Total $33,350 to $119,038
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Buyer closing costs in Arizona

While the other costs to buy a house in Arizona are pretty transparent, Arizona closing costs are a bit more nuanced. They're actually a series of smaller costs lumped together into one total. Here's a breakdown of all of the Arizona closing costs you'll likely pay when buying a home.

Closing cost Amount
Closing fee $433
Recording fee $30
Title service fees $793
Origination fee $2,164
Underwriting fee $600
Discount points $3,463 per point
Lender's title insurance $751
Owner's title insurance Typically paid by seller
Prorated property tax Varies
Transfer fee No transfer tax in Arizona
Total $8,233
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Keep in mind, closing costs are often negotiable. However, to win the negotiation battle, you'll need a great agent who can work out a deal with the seller. Clever can match you with a top agent in your area that can get the seller to shoulder more of the above costs.

Contact us at Clever for top agent recommendations.

Cost to buy a house in Arizona calculator

Ongoing costs of homeownership in Arizona

Unfortunately, the cost to buy a house is just the beginning. After closing, you'll officially own the home and begin paying for the ongoing costs of homeownership.

Besides the expenses outlined above, you'll also want to consider private mortgage insurance (PMI) and homeowner's association (HOA) fees.

  • If you pay less than 20% as a down payment on your house, you'll probably have to pay PMI monthly until you get to 20% equity. For the average Arizona homeowner, this is between $188 to $637 a month.
  • Some neighborhoods have HOA fees for the care and maintenance of common areas. The national average is around $250 per month.

» MORE: The true cost of homeownership

Top ways to save money when buying a house in Arizona

1. Look into better financing options

Paying off debts and getting your credit in the best shape possible before applying for a loan will help you get a better interest rate, which will lower your monthly payments for the life of the loan.

You can also shop around to compare lenders so you get the lowest fees and interest rates available. It may be a good idea to enlist the help of a mortgage broker if you're not sure how to go about vetting lenders.

2. Participate in home buyer programs Arizona

Arizona has programs for home buyers that will make entry to homeownership easier. For instance, the Arizona Industrial Development Authority’s HOME Plus program offers down payment assistance for buyers with an annual income not exceeding $122,100 and a credit score of 640 or better. Low- and very-low-income applicants can apply for the Section 502 Direct Loan Program, which can reduce the mortgage payment for a short time.

There are also a number of programs that are dependent on the city you’re buying in — check out the HUD website for more information.

» MORE: First-time home buyer programs everyone should know about

3. Partner with an expert agent

Some real estate companies, like Clever, offer home buyers a percentage of their home's price back after the sale finalizes.

That means if you work with a Clever agent, you'll not only get the expertise that helps you get the best deal possible — you could also get up to 0.5% of your home price back after closing!

Find your agent through Clever, qualify for cash back!

Clever matches you with top local agents so you can compare options and choose the best fit. And eligible buyers can get cash back after closing.

Fill out the form below and get started now. Clever's service is 100% free with no obligation.

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