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