Las Vegas vs Phoenix: Mortgage Cost Comparison
Thinking about buying in Las Vegas or Phoenix? Here's a side-by-side comparison of mortgage costs in both cities.
$2,402
Las Vegas PITI
$2,432
Phoenix PITI
$30/mo
Difference
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? Monthly payment PITI with taxes & insurance included
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? Bi-weekly payment PITI if paid every other week
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Las Vegas vs Phoenix: Full Mortgage Comparison
Buying a home in Las Vegas is $30/month cheaper based on average home prices and local costs.
| Las Vegas, NV | Phoenix, AZ | |
|---|---|---|
| Avg. Home Price | $410,000 | $410,000 |
| Down Payment (20%) | $82,000 | $82,000 |
| Loan Amount | $328,000 | $328,000 |
| Property Tax Rate | 0.56% | 0.61% |
| Annual Property Tax | $2,296 | $2,501 |
| Annual Insurance | $1,650 | $1,800 |
| Monthly P&I | $2,073 | $2,073 |
| Monthly PITI | $2,402 | $2,432 |
| Total Interest (30yr) | $418,346 | $418,346 |
What Drives the Difference?
Home prices are the biggest factor — Phoenix’s average home costs $0 more than Las Vegas’s.
Property taxes also favor Las Vegas — Phoenix’s 0.61% rate is higher than Las Vegas’s 0.56%.
Insurance is $150/year more in Phoenix.
Income Needed to Buy
Using the 28% rule (PITI under 28% of gross income):
| Las Vegas | Phoenix | |
|---|---|---|
| Monthly PITI | $2,402 | $2,432 |
| Income needed | $102,944 | $104,211 |
Try Your Own Numbers
The calculator above is pre-filled with Las Vegas’s averages. Adjust the values to match your situation, or try the Phoenix calculator for Phoenix-specific numbers.