Is It Worth Buying a Home in Mesa, AZ?
The decision to rent or buy in Mesa, Arizona depends on how long you plan to stay, your down payment, and current mortgage rates. With a median home price of $395,000 and median monthly rent of $1,750, the math plays out differently depending on your personal situation.
Mesa has an average property tax rate of 0.62% annually, which adds approximately $204/month to the cost of homeownership on a median-priced home.
Historically, home values in Mesa have appreciated at roughly 4.0% per year, which works in favor of buyers who plan to stay long-term. Use the calculator above to find your personal break-even point.
Key Factors for Mesa Buyers
- Down payment of 20% on a median home = $79,000
- Monthly mortgage (30yr at 6.99%) ≈ $2,100/mo
- Property tax ≈ $204/mo
- Estimated maintenance ≈ $329/mo