Los Angeles vs Phoenix: Mortgage Cost Comparison
Thinking about buying in Los Angeles or Phoenix? Here's a side-by-side comparison of mortgage costs in both cities.
$5,404
Los Angeles PITI
$2,432
Phoenix PITI
$2,972/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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Los Angeles vs Phoenix: Full Mortgage Comparison
Buying a home in Phoenix is $2,972/month cheaper based on average home prices and local costs.
| Los Angeles, CA | Phoenix, AZ | |
|---|---|---|
| Avg. Home Price | $920,000 | $410,000 |
| Down Payment (20%) | $184,000 | $82,000 |
| Loan Amount | $736,000 | $328,000 |
| Property Tax Rate | 0.72% | 0.61% |
| Annual Property Tax | $6,624 | $2,501 |
| Annual Insurance | $2,400 | $1,800 |
| Monthly P&I | $4,652 | $2,073 |
| Monthly PITI | $5,404 | $2,432 |
| Total Interest (30yr) | $938,727 | $418,346 |
What Drives the Difference?
Home prices are the biggest factor — Los Angeles’s average home costs $510,000 more than Phoenix’s.
Property taxes also favor Phoenix — Los Angeles’s 0.72% rate is higher than Phoenix’s 0.61%.
Insurance is $600/year more in Los Angeles.
Income Needed to Buy
Using the 28% rule (PITI under 28% of gross income):
| Los Angeles | Phoenix | |
|---|---|---|
| Monthly PITI | $5,404 | $2,432 |
| Income needed | $231,601 | $104,211 |
Try Your Own Numbers
The calculator above is pre-filled with Los Angeles’s averages. Adjust the values to match your situation, or try the Phoenix calculator for Phoenix-specific numbers.