Calculate using real Surprise data. Median home price: $395,000. Property tax rate: 0.6%.
With the median household income of $76,480 in Surprise, AZ, following the 28% rule, you could afford a monthly payment of about $1,785.
The cost of living index in Surprise, AZ is 98 (national average = 100). A home at the median price of $395,000 would require roughly 5.2x the median income.
A conventional 20% down payment on the median Surprise, AZ home ($395,000) would be $79,000. FHA loans may require as little as 3.5% ($13,825).