Stacker Studio

Counties with the lowest home prices in Arizona

Written by:
June 8, 2021
Arina P Habich // Shutterstock

This story originally appeared on Stacker and was produced and distributed in partnership with Stacker Studio.

Counties with the lowest home prices in Arizona

The real estate market is booming right now thanks to low interest rates, a flood of millennial buyers, and shrinking inventory. The median cost of a home has increased 20% year over year, hitting $347,500, according to a report released in April 2020 by real estate listing website Redfin. These high asking costs—while good for sellers—are pricing many buyers out of the market entirely.

But all things are not equal when it comes to real estate in the United States.

Credible used 2021 data calculated by the National Association of REALTORS to compile a list of counties with the lowest median home values and monthly mortgage payments in Arizona. Counties were ranked by the monthly mortgage payment for a typical home in 2020, from lowest to highest. Ties were broken by median home values in 2020.

The National Association of REALTORS calculated the fourth quarter 2020 median home values by applying the Federal Housing Finance Agency's House Price Index growth to 2019 housing and population data from the American Community Survey and determining an estimate of 2020 median home values for all counties where data is available. The monthly mortgage payments for fourth quarter 2019 and fourth quarter 2020 were calculated for a 30-year fixed-rate mortgage with a 10% down payment.

Keep reading to discover which county in Arizona has the lowest home prices.

#15. Coconino County

- Monthly mortgage payment in 2020: $1,268 (1.6% less than 2019)
- Monthly mortgage payment in 2019: $1,289
- Median home value in 2020: $342,500
- Ranked #2,943 out of 3,120 counties nationwide

#14. Maricopa County

- Monthly mortgage payment in 2020: $1,195 (2.8% less than 2019)
- Monthly mortgage payment in 2019: $1,230
- Median home value in 2020: $322,700
- Ranked #2,907 out of 3,120 counties nationwide

#13. Yavapai County

- Monthly mortgage payment in 2020: $1,142 (1.5% less than 2019)
- Monthly mortgage payment in 2019: $1,159
- Median home value in 2020: $308,500
- Ranked #2,880 out of 3,120 counties nationwide

#12. Pinal County

- Monthly mortgage payment in 2020: $868 (2.4% less than 2019)
- Monthly mortgage payment in 2019: $889
- Median home value in 2020: $234,400
- Ranked #2,607 out of 3,120 counties nationwide

#11. Pima County

- Monthly mortgage payment in 2020: $845 (3.3% less than 2019)
- Monthly mortgage payment in 2019: $874
- Median home value in 2020: $228,300
- Ranked #2,573 out of 3,120 counties nationwide

#10. Mohave County

- Monthly mortgage payment in 2020: $762 (10.2% less than 2019)
- Monthly mortgage payment in 2019: $849
- Median home value in 2020: $205,800
- Ranked #2,429 out of 3,120 counties nationwide

#9. Gila County

- Monthly mortgage payment in 2020: $665 (6.3% less than 2019)
- Monthly mortgage payment in 2019: $710
- Median home value in 2020: $179,600
- Ranked #2,205 out of 3,120 counties nationwide

#8. Cochise County

- Monthly mortgage payment in 2020: $618 (3.4% less than 2019)
- Monthly mortgage payment in 2019: $640
- Median home value in 2020: $166,800
- Ranked #2,018 out of 3,120 counties nationwide

#7. Santa Cruz County

- Monthly mortgage payment in 2020: $607 (9.3% less than 2019)
- Monthly mortgage payment in 2019: $669
- Median home value in 2020: $163,800
- Ranked #1,972 out of 3,120 counties nationwide

#6. Navajo County

- Monthly mortgage payment in 2020: $594 (5.9% greater than 2019)
- Monthly mortgage payment in 2019: $561
- Median home value in 2020: $160,300
- Ranked #1,917 out of 3,120 counties nationwide

#5. Yuma County

- Monthly mortgage payment in 2020: $564 (8.3% less than 2019)
- Monthly mortgage payment in 2019: $615
- Median home value in 2020: $152,400
- Ranked #1,801 out of 3,120 counties nationwide

#4. Graham County

- Monthly mortgage payment in 2020: $556 (2.8% less than 2019)
- Monthly mortgage payment in 2019: $572
- Median home value in 2020: $150,300
- Ranked #1,778 out of 3,120 counties nationwide

#3. Greenlee County

- Monthly mortgage payment in 2020: $336 (9.4% less than 2019)
- Monthly mortgage payment in 2019: $371
- Median home value in 2020: $90,800
- Ranked #475 out of 3,120 counties nationwide

#2. La Paz County

- Monthly mortgage payment in 2020: $318 (8.9% less than 2019)
- Monthly mortgage payment in 2019: $349
- Median home value in 2020: $85,800
- Ranked #346 out of 3,120 counties nationwide

#1. Apache County

- Monthly mortgage payment in 2020: $298 (26.3% greater than 2019)
- Monthly mortgage payment in 2019: $236
- Median home value in 2020: $80,600
- Ranked #237 out of 3,120 counties nationwide

Trending Now