Calculate using real Scottsdale data. Median home price: $680,000. Property tax rate: 0.58%.
With the median household income of $98,316 in Scottsdale, AZ, following the 28% rule, you could afford a monthly payment of about $2,294.
The cost of living index in Scottsdale, AZ is 130 (national average = 100). A home at the median price of $680,000 would require roughly 6.9x the median income.
A conventional 20% down payment on the median Scottsdale, AZ home ($680,000) would be $136,000. FHA loans may require as little as 3.5% ($23,800).