Phoenix FHA Loan Rates, Closing Costs & Stats

PHOENIX-MESA-CHANDLER, AZ

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Phoenix's 268 lenders originated 18,096 FHA loans during 2023. The total origination value was $6,457,340,000, with an average FHA loan value of $356,838.

Phoenix FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Phoenix averaged 6.44% for the week of 2024-06-14, compared to the national average (all FHA variants) of 6.712% for the same period.

Phoenix's average FHA mortgage closing costs are $9,308.

The average rate for the prior week (2024-06-07) was 6.23% and one month ago for the week of 2024-05-10, the average rate was 6.41%.

The average rate one year ago was 6.16%.

For refis of the same type during the week of 2024-06-14, the average rate was 7.03%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Phoenix FHA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Phoenix level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 2,366 6.12% $15,437
QUICKEN LOANS, LLC 1,011 6.06% $14,786
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 983 6.55% $14,767
DHI MORTGAGE COMPANY, LTD. 786 5.37% $11,404
LOANDEPOT.COM, LLC 730 5.97% $13,760
NOVA FINANCIAL & INVESTMENT CORPORATION 619 6.56% $9,875
EAGLE HOME MORTGAGE, LLC 493 5.30% $13,069
VELOCIO MORTGAGE L.L.C. 450 5.53% $16,145
V.I.P. MORTGAGE, INC. 433 6.46% $16,487
CROSSCOUNTRY MORTGAGE, LLC 374 6.59% $15,185
Paramount Residential Mortgage Group, Inc. 343 6.42% $13,919
INSPIRE HOME LOANS INC. 335 5.60% $11,607
GENEVA FINANCIAL, LLC 330 6.96% $18,313
HOMEAMERICAN MORTGAGE CORPORATION 315 5.56% $8,019
AMERICAN PACIFIC MORTGAGE CORPORATION 294 6.49% $16,944
NFM, INC. 289 5.63% $15,718
PULTE MORTGAGE LLC 246 5.46% $7,915
ACADEMY MORTGAGE CORPORATION 238 6.49% $16,729
KBHS HOME LOANS, LLC 203 5.69% $14,746
South Pacific Financial Corporation 184 5.74% $14,081
SECURITYNATIONAL MORTGAGE COMPANY 181 7.13% $18,591
HOMEOWNERS FINANCIAL GROUP USA, LLC 173 6.46% $16,126
AMERICAN FINANCIAL NETWORK, INC. 168 7.08% $16,948
FREEDOM MORTGAGE CORPORATION 158 6.71% $16,673
Waterstone Mortgage Corporation 156 6.14% $16,737
GUILD MORTGAGE COMPANY 151 6.46% $16,717
BROKER SOLUTIONS, INC. 143 6.58% $15,601
SUN WEST MORTGAGE COMPANY, INC. 136 6.41% $16,179
PENNYMAC LOAN SERVICES, LLC 133 6.01% $15,793
CARDINAL FINANCIAL 122 6.32% $14,854
MATTAMY HOME FUNDING, LLC 120 5.41% $14,907
MORIA DEVELOPMENT, INC. 119 6.72% $16,042
PRIMELENDING, A PLAINSCAPITAL COMPANY 118 6.80% $15,792
Plains Commerce Bank 116 6.29% $14,535
NEWREZ LLC 110 6.29% $14,389
CMG MORTGAGE, INC. 108 6.29% $16,072
GUARANTEED RATE, INC. 104 6.41% $14,704
MOVEMENT MORTGAGE, LLC 95 6.61% $15,986
Equity Prime Mortgage LLC 94 6.91% $16,538
Mr. Cooper ( Nationstar Mortgage ) 86 6.08% $18,184
LOANPAL, LLC 85 5.70% $15,834
NEW WEST LENDING, INC. 85 6.39% $14,967
Bell Bank 78 6.29% $14,983
Flagstar Bank, FSB 75 6.42% $13,811
ZILLOW HOME LOANS, LLC 72 6.16% $16,507
AMERISAVE MORTGAGE CORPORATION 71 6.05% $17,625
Nations Lending Corporation 70 6.44% $13,373
BAY EQUITY LLC 67 6.47% $15,642
JPMorgan Chase Bank 56 6.25% $7,885
BROOKHOLLOW MORTGAGE SERVICES, LTD 55 5.05% $17,057
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 55 5.82% $15,965
Shea Mortgage Inc. 54 5.16% $8,227
MUTUAL OF OMAHA MORTGAGE, INC. 54 6.37% $16,915
CALCON MUTUAL MORTGAGE LLC 54 6.58% $20,899
OCMBC, INC. 53 6.83% $16,772
GUARANTEED RATE AFFINITY, LLC 52 6.47% $14,903
ON Q FINANCIAL, INC. 51 6.20% $15,129
Carrington Mortgage Services, LLC 51 6.34% $14,793
MANN FINANCIAL INC. 50 6.65% $15,192
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 50 6.24% $13,344
Wallick & Volk, Inc. 47 6.77% $10,755
PACIFIC RESIDENTIAL MORTGAGE, LLC 47 6.69% $14,232
Century Mortgage Company DBA Century Lending Company 46 6.35% $14,528
Neighborhood Loans, Inc. 43 6.52% $17,625
PLAZA HOME MORTGAGE, INC. 40 5.94% $16,555
ENVOY MORTGAGE, LTD 39 6.61% $16,142
THE MORTGAGE LINK, INC. 38 6.92% $18,806
LAKEVIEW LOAN SERVICING, LLC 38 5.94% $15,921
Sunflower Bank 33 6.42% $13,432
SUMMIT FUNDING, INC. 33 6.51% $15,884
American Mortgage & Equity Consultants, Inc. 31 6.64% $16,534
ALTITUDE FINANCIAL CORPORATION 31 6.45% $9,342
STARBOARD FINANCIAL MANAGEMENT, LLC 29 6.48% $16,635
PLANET HOME LENDING, LLC 28 5.81% $10,564
BMO Harris Bank 28 6.21% $13,729
Prosperity Home Mortgage, LLC 27 6.10% $14,666
TOWNE MORTGAGE COMPANY 27 6.24% $14,680
FBC MORTGAGE, LLC 27 5.90% $18,974
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 27 6.78% $13,473
ML Mortgage Corp. 27 6.66% $18,764
MID AMERICA MORTGAGE, INC. 27 6.82% $9,821
VILLAGE CAPITAL MORTGAGE 26 6.13% $13,341
PHH Mortgage Corporation 26 6.53% $14,231
ARK-LA-TEX FINANCIAL SERVICES, LLC. 25 6.80% $16,051
PREMIER LENDING, INC. 25 6.10% $15,445
MASON MCDUFFIE MORTGAGE CORPORATION 25 6.66% $17,541
SWBC MORTGAGE CORPORATION 25 6.56% $9,381
HOMEBRIDGE FINANCIAL SERVICES, INC. 24 6.12% $15,806
CITY FIRST MORTGAGE SERVICES, L.L.C. 24 6.80% $16,264
Franklin Loan Corporation 23 6.15% $18,308
TOP FLITE FINANCIAL, INC. 23 6.93% $19,911
The Federal Savings Bank 23 6.18% $20,796
HOMESIDE FINANCIAL, LLC 22 6.14% $16,228
Lakeview Community Capital, LLC 21 6.11% $15,408
UNION HOME MORTGAGE CORP. 21 6.61% $12,736
AmeriHome Mortgage Company, LLC 20 6.32% $13,791
Gateway First Bank 20 6.71% $11,211
NATIONS DIRECT MORTGAGE, LLC 19 6.32% $16,869
Loan Simple, Inc. 18 6.89% $17,257
CASTLE & COOKE MORTGAGE, LLC 18 6.47% $17,418
AMERICAN FINANCIAL RESOURCES, INC. 17 6.76% $13,272
SUN AMERICAN MORTGAGE COMPANY 17 6.14% $13,277
MORTGAGE SOLUTIONS OF COLORADO, LLC 17 6.29% $19,125
LEADERONE FINANCIAL CORPORATION 16 6.90% $14,978
CITYWIDE HOME LOANS, LLC 16 6.34% $17,581
VERITAS FUNDING, LLC 16 6.42% $20,258
Sierra Pacific Mortgage Company, Inc. 16 6.12% $13,389
MICHIGAN MUTUAL, INC. 15 6.90% $17,364
iCore Lending, Inc. 14 6.72% $15,261
LADERA LENDING, INC. 13 6.36% $14,663
U.S. Bank 13 6.41% $16,431
NEST HOME LENDING, LLC 13 5.74% $14,990
DAS Acquisition Company, LLC 12 7.40% $13,586
AXIA FINANCIAL, LLC 12 6.46% $17,976
INTERLINC MORTGAGE SERVICES, LLC 12 6.49% $9,458
INTERCAP LENDING INC. 12 6.96% $17,275
Mortgage Research Center, LLC 11 6.56% $7,548
AMCAP MORTGAGE, LTD. 11 6.73% $18,005
CORNERSTONE HOME LENDING, INC. 11 6.58% $15,209
Wells Fargo Bank 11 6.28% $12,291
ARIZONA 11 6.10% $12,502
NETWORK CAPITAL FUNDING CORPORATION 10 5.79% $16,246
DIRECTORS MORTGAGE, INC. 10 6.81% $17,382
BECKAM FUNDING CORP. 10 7.04% $19,498
NBKC BANK 9 6.36% $11,454
LHM FINANCIAL CORPORATION 9 6.04% $11,225
NexBank 9 6.11% $12,588
TBI MORTGAGE COMPANY 9 6.31% $17,028
First Option Mortgage, LLC 9 6.72% $15,828
Barrington Bank & Trust Company, N.A. 9 7.03% $11,357
ALAMEDA MORTGAGE CORPORATION 8 6.33% $16,470
DIRECT MORTGAGE, CORP. 8 6.56% $22,817
AMERICAN FINANCING CORPORATION 8 6.44% $13,339
Bank of America 8 6.13% $12,710
PANORAMA MORTGAGE GROUP, LLC 8 6.64% $19,064
LIBERTY HOME MORTGAGE CORPORATION 7 7.41% $11,339
The Loan Store, Inc. 7 6.77% $14,825
Bank of England 7 5.89% $15,154
Golden Empire Mortgage, Inc. 7 6.41% $16,206
EMM LOANS LLC 6 6.08% $19,087
EVERETT FINANCIAL, INC. 6 6.52% $21,715
First Savings Bank 6 5.96% $19,785
CHERRY CREEK MORTGAGE, LLC 6 5.98% $7,035
MOUNTAIN WEST FINANCIAL, INC. 6 6.40% $16,286
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 6 6.56% $13,381
CALIBER HOME LOANS, INC. 5 6.20% $12,565
SOVEREIGN LENDING GROUP INCORPORATED 5 5.40% $20,455
PREMIER MORTGAGE RESOURCES, L.L.C. 5 6.95% $16,985
BM Real Estate Services, Inc. 5 6.80% $16,078
DATA MORTGAGE, INC. 4 6.94% $13,985
BLG HOLDINGS, INC. 4 7.22% $18,979
BOKF 4 6.84% $14,927
CHURCHILL MORTGAGE CORPORATION 4 5.75% $16,381
Cornerstone First Mortgage, Inc 4 6.50% $13,568
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 4 6.81% $17,938
Financial Funding Solutions, Inc. 4 5.84% $14,002
First National Bank Texas 4 5.84% $13,512
GARDNER FINANCIAL SERVICES, LTD. 4 7.31% $18,960
Hometown Equity Mortgage, LLC 4 6.47% $15,500
INTELLILOAN, INC. 4 5.50% $14,600
JMAC LENDING, INC. 4 6.47% $15,778
LAND HOME FINANCIAL SERVICES, INC. 4 6.69% $19,249
LOANLEADERS OF AMERICA, INC. 4 6.13% $17,249
PENTAGON FEDERAL CREDIT UNION 4 5.25% $14,334
PREMIA MORTGAGE, LLC 4 6.28% $9,793
RESIDENTIAL MORTGAGE, LLC 4 6.12% $15,141
RESIDENTIAL WHOLESALE MORTGAGE, INC. 4 6.44% $13,011
S1L, Inc. 4 6.69% $12,340
SFMC, LP 4 6.78% $23,411
TruHome Solutions, LLC 4 6.13% $9,366
UMB Bank 4 7.03% $13,145
VAN DYK MORTGAGE CORPORATION 4 6.50% $19,480
BAY-VALLEY MORTGAGE GROUP 3 6.46% $17,374
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 6.08% $12,380
CANOPY MORTGAGE, LLC 3 6.42% $22,426
First State Bank of St. Charles, Missouri 3 6.96% $14,088
ALLIED MORTGAGE GROUP, INC. 3 6.63% $10,396
GSF Mortgage Corporation 3 5.75% $14,181
MOUNTAIN AMERICA 3 6.08% $13,284
Performance Financial, Inc. 3 6.83% $12,659
AHL FUNDING 3 7.17% $19,589
Armed Forces Bank 3 5.79% $14,046
Alaska USA Federal Credit Union 3 6.88% $10,876
HUNT MORTGAGE CORPORATION 3 6.88% $17,245
RESIDENTIAL BANCORP 3 6.75% $16,551
NATIONS RELIABLE LENDING, LLC 2 6.06% $18,041
Lend Smart Mortgage, LLC 2 5.69% $18,955
Keystone Funding, Inc. 2 6.25% $18,125
INTERNATIONAL CITY MORTGAGE, INC. 2 5.44% $17,664
IDEAL HOME LOANS LLC 2 6.25% $10,928
NuVision Federal Credit Union 2 6.44% $10,734
HOMEXPRESS MORTGAGE CORP. 2 6.75% $20,251
GoPrime Mortgage, Inc. 2 6.44% $18,610
Goldwater Bank, N.A. 2 6.88% $20,427
AMERICA FIRST 2 6.31% $13,078
First Western Trust Bank 2 6.44% $14,024
PNC Bank 2 6.25% $15,700
FIRST CENTENNIAL MORTGAGE CORPORATION 2 7.50% $10,436
RELIANCE FIRST CAPITAL, LLC 2 6.50% $17,751
FirstBank 2 6.13% $13,873
DRAPER AND KRAMER MORTGAGE CORP. 2 5.81% $16,074
SOUTHWEST STAGE FUNDING, LLC 2 6.63% $13,669
1st Security Bank of Washington 2 6.44% $19,806
Strong Home Mortgage, LLC 2 6.25% $14,305
Commerce Home Mortgage, Inc. 2 6.06% $19,464
CLIFFCO, INC. 2 6.69% $17,920
Citizens Bank 2 6.13% $16,397
CIBM Bank 2 6.50% $11,128
BETTER MORTGAGE CORPORATION 2 5.63% $19,395
THRIVE MORTGAGE, LLC 2 6.81% $17,477
TJC Mortgage, Inc. 2 6.63% $9,346
Willamette Valley Bank 2 6.31% $17,227
M&T Bank 2 6.69% $12,111
UNITED SECURITY FINANCIAL CORP 1 7.75% $27,481
RADIUS FINANCIAL GROUP INC. 1 5.25% $18,352
RANLIFE, INC. 1 6.38% $23,336
BANKWEST, INC. 1 5.75% $15,303
NP, Inc. 1 6.00% $4,186
Alerus Financial 1 6.13% $13,859
Watermark Capital, Inc. 1 5.99% $10,747
North American Savings Bank, F.S.B. 1 6.12% $6,236
SeaTrust Mortgage Company 1 6.50% $22,353
SECURITY HOME MORTGAGE, LLC. 1 6.99% $17,728
JMJ FINANCIAL GROUP 1 7.63% $7,823
INFINITY EQUITY GROUP, INC. 1 7.75% $15,535
EMBRACE HOME LOANS, INC. 1 7.63% $15,714
Eagle Bank and Trust Company 1 6.63% $11,402
Utah Mortgage Loan Corporation 1 6.13% $5,320
Zions Bank 1 5.75% $10,257
AMERITRUST MORTGAGE CORPORATION 1 6.13% $15,523
CUSTOMER SERVICE MORTGAGE CORPORATION 1 6.88% $11,356
Ameris Bank 1 6.00% $12,729
CONTOUR MORTGAGE CORPORATION 1 6.25% $17,431
Summit Mortgage Corporation 1 6.12% $13,807
MORTGAGEONE, INC. 1 5.88% $21,993
KELLER MORTGAGE, LLC 1 6.13% $13,466
MORTGAGE EXPRESS, LLC 1 6.75% $18,093
MidFirst Bank 1 6.25% $15,580
T2 FINANCIAL LLC 1 5.50% $13,352
Chickasaw Community Bank 1 6.88% $9,021
THE ANDERSON FINANCIAL GROUP, INC. 1 5.00% $17,710
ISERVE RESIDENTIAL LENDING, LLC 1 7.00% $13,151
Blue Ridge Bank 1 5.75% $12,821
MEGASTAR FINANCIAL CORP. 1 5.13% $28,413
LENOX FINANCIAL MORTGAGE CORPORATION 1 5.63% $20,368
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 6.25% $15,353
BEST FINANCE CAPITAL, INC. 1 6.25% $20,405
NEW DAY FINANCIAL, LLC 1 7.50% $11,368
Magnolia Bank 1 6.00% $15,864
Florida Capital Bank 1 7.25% $12,834
A&D Mortgage LLC 1 5.50% $14,918
Paramount Bank 1 7.00% $19,460
FLAT BRANCH MORTGAGE, INC. 1 6.25% $14,276
PINNACLE LENDING GROUP, INC. 1 5.63% $12,602
FISHER FINANCIAL GROUP, INCORPORATED 1 6.25% $12,470
BAYSHORE MORTGAGE FUNDING, LLC 1 7.25% $26,510
Platinum Home Mortgage Corporation 1 6.75% $15,686
First United Bank and Trust Company 1 6.88% $18,863
United Fidelity Funding Corp. 1 6.50% $25,228
OPEN MORTGAGE, LLC 1 6.88% $23,095
HOMESTEAD FUNDING CORP. 1 6.13% $11,578
PREMIER MEMBERS CREDIT UNION 1 5.25% $15,562
FIRST NATIONS HOME FINANCE CORPORATION 1 6.25% $11,192
OAKTREE FUNDING CORP. 1 5.50% $12,608
First International Bank & Trust 1 6.13% $9,807
PRIORITY HOME LENDING, LLC 1 7.25% $13,721
First Federal Bank of Kansas City 1 6.25% $9,879
FIRST COMMUNITY MORTGAGE, INC. 1 6.75% $15,793

The top Phoenix FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 2,366 FHA loans originated. Their average total fees are $15,437, which is $651 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Phoenix FHA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,548), JPMorgan Chase Bank ($7,885), PULTE MORTGAGE LLC ($7,915), HOMEAMERICAN MORTGAGE CORPORATION ($8,019) and Shea Mortgage Inc. ($8,227).

The lowest rate Phoenix FHA lenders (with over 10 loans originated) are BROOKHOLLOW MORTGAGE SERVICES, LTD (5.05%), Shea Mortgage Inc. (5.16%), EAGLE HOME MORTGAGE, LLC (5.30%), DHI MORTGAGE COMPANY, LTD. (5.37%) and MATTAMY HOME FUNDING, LLC (5.41%).

Phoenix FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
PHOENIX-MESA-CHANDLER, AZ MARICOPA 2022 $441,600 $565,300 $683,350 $849,250
PHOENIX-MESA-CHANDLER, AZ PINAL 2022 $441,600 $565,300 $683,350 $849,250
PHOENIX-MESA-CHANDLER, AZ MARICOPA 2023 $530,150 $678,700 $820,350 $1,019,550
PHOENIX-MESA-CHANDLER, AZ PINAL 2023 $530,150 $678,700 $820,350 $1,019,550

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Phoenix (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $339,700 (6.2%) $582,121 (9.1%) 1.26 16,040
2018-02-01 $349,950 (7.0%) $596,230 (9.1%) 1.27 15,903
2018-03-01 $364,900 (8.3%) $614,257 (9.8%) 1.28 15,660
2018-04-01 $364,900 (5.0%) $615,185 (7.8%) 1.24 15,588
2018-05-01 $364,450 (4.4%) $606,681 (6.8%) 1.22 15,053
2018-06-01 $359,000 (5.6%) $589,104 (5.6%) 1.20 14,601
2018-07-01 $349,900 (4.5%) $562,151 (4.7%) 1.17 14,196
2018-08-01 $344,750 (4.5%) $549,091 (4.1%) 1.15 14,585
2018-09-01 $345,000 (4.6%) $548,169 (3.3%) 1.16 14,741
2018-10-01 $340,099 (3.1%) $552,484 (2.3%) 1.15 16,146
2018-11-01 $342,200 (3.7%) $568,839 (3.2%) 1.16 16,970
2018-12-01 $344,828 (3.0%) $575,150 (1.1%) 1.19 16,741
2019-01-01 $347,945 (2.4%) $582,810 (0.1%) 1.20 17,303
2019-02-01 $349,900 (0.0%) $587,222 (-1.5%) 1.18 17,882
2019-03-01 $361,329 (-1.0%) $601,751 (-2.0%) 1.18 17,409
2019-04-01 $371,350 (1.8%) $615,009 (0.0%) 1.18 16,852
2019-05-01 $374,600 (2.8%) $618,035 (1.9%) 1.17 15,913
2019-06-01 $380,000 (5.9%) $626,550 (6.4%) 1.19 14,610
2019-07-01 $382,536 (9.3%) $624,785 (11.1%) 1.20 13,215
2019-08-01 $384,727 (11.6%) $628,020 (14.4%) 1.22 12,659
2019-09-01 $384,318 (11.4%) $631,551 (15.2%) 1.23 12,832
2019-10-01 $384,045 (12.9%) $637,627 (15.4%) 1.24 13,012
2019-11-01 $383,995 (12.2%) $643,327 (13.1%) 1.26 12,980
2019-12-01 $379,990 (10.2%) $659,922 (14.7%) 1.27 11,902
2020-01-01 $392,311 (12.8%) $681,225 (16.9%) 1.31 11,211
2020-02-01 $399,900 (14.3%) $697,431 (18.8%) 1.31 10,356
2020-03-01 $404,264 (11.9%) $698,688 (16.1%) 1.27 10,126
2020-04-01 $375,000 (1.0%) $621,453 (1.1%) 1.17 12,654
2020-05-01 $385,000 (2.8%) $643,224 (4.1%) 1.17 11,855
2020-06-01 $430,250 (13.2%) $747,605 (19.3%) 1.27 8,794
2020-07-01 $448,995 (17.4%) $784,016 (25.5%) 1.30 7,386
2020-08-01 $444,000 (15.4%) $775,732 (23.5%) 1.27 7,165
2020-09-01 $436,304 (13.5%) $773,557 (22.5%) 1.25 7,350
2020-10-01 $435,000 (13.3%) $771,889 (21.1%) 1.25 7,633
2020-11-01 $417,000 (8.6%) $746,886 (16.1%) 1.22 7,216
2020-12-01 $408,500 (7.5%) $736,213 (11.6%) 1.21 5,980
2021-01-01 $414,970 (5.8%) $773,410 (13.5%) 1.24 4,955
2021-02-01 $412,950 (3.3%) $800,100 (14.7%) 1.20 4,019
2021-03-01 $420,000 (3.9%) $800,154 (14.5%) 1.19 3,916
2021-04-01 $427,995 (14.1%) $807,094 (29.9%) 1.16 4,156
2021-05-01 $450,000 (16.9%) $817,309 (27.1%) 1.20 4,275
2021-06-01 $460,000 (6.9%) $801,961 (7.3%) 1.21 4,872
2021-07-01 $475,000 (5.8%) $773,132 (-1.4%) 1.25 5,623
2021-08-01 $475,000 (7.0%) $753,806 (-2.8%) 1.27 6,017
2021-09-01 $476,950 (9.3%) $747,219 (-3.4%) 1.27 6,236
2021-10-01 $484,993 (11.5%) $754,445 (-2.3%) 1.29 6,462
2021-11-01 $482,495 (15.7%) $765,486 (2.5%) 1.29 6,256
2021-12-01 $487,000 (19.2%) $783,838 (6.5%) 1.32 5,573
2022-01-01 $499,000 (20.3%) $815,920 (5.5%) 1.35 4,645
2022-02-01 $499,950 (21.1%) $857,432 (7.2%) 1.30 4,050
2022-03-01 $500,950 (19.3%) $864,079 (8.0%) 1.25 4,029
2022-04-01 $525,000 (22.7%) $877,482 (8.7%) 1.25 4,590
2022-05-01 $549,450 (22.1%) $856,587 (4.8%) 1.26 7,121
2022-06-01 $547,500 (19.0%) $818,345 (2.0%) 1.22 10,236
2022-07-01 $525,000 (10.5%) $746,534 (-3.4%) 1.18 14,297
2022-08-01 $499,950 (5.3%) $709,896 (-5.8%) 1.16 16,371
2022-09-01 $494,475 (3.7%) $700,561 (-6.2%) 1.16 16,733
2022-10-01 $485,000 (0.0%) $709,726 (-5.9%) 1.14 17,772
2022-11-01 $477,000 (-1.1%) $717,207 (-6.3%) 1.15 17,345
2022-12-01 $474,900 (-2.5%) $721,974 (-7.9%) 1.17 14,790
2023-01-01 $479,495 (-3.9%) $758,362 (-7.1%) 1.19 13,487
2023-02-01 $487,000 (-2.6%) $807,832 (-5.8%) 1.18 12,499
2023-03-01 $499,363 (-0.3%) $845,639 (-2.1%) 1.18 11,470
2023-04-01 $516,006 (-1.7%) $884,740 (0.8%) 1.20 10,164
2023-05-01 $529,447 (-3.6%) $916,513 (7.0%) 1.20 9,166
2023-06-01 $539,945 (-1.4%) $928,389 (13.5%) 1.21 8,598
2023-07-01 $539,900 (2.8%) $892,899 (19.6%) 1.23 8,231
2023-08-01 $537,900 (7.6%) $882,775 (24.4%) 1.24 8,700
2023-09-01 $532,000 (7.6%) $867,398 (23.8%) 1.24 9,317
2023-10-01 $529,759 (9.2%) $874,104 (23.2%) 1.25 10,798
2023-11-01 $522,450 (9.5%) $871,475 (21.5%) 1.24 12,000
2023-12-01 $526,725 (10.9%) $885,567 (22.7%) 1.28 11,355
2024-01-01 $535,000 (11.6%) $932,383 (23.0%) 1.31 11,429
2024-02-01 $539,995 (10.9%) $979,418 (21.2%) 1.30 11,947
2024-03-01 $534,990 (7.1%) $948,151 (12.1%) 1.26 13,407
2024-04-01 $537,000 (4.1%) $941,631 (6.4%) 1.25 14,984
2024-05-01 $545,000 (2.9%) $948,122 (3.5%) 1.23 16,526
Phoenix's median listing price for 2024-05-01 was $545,000, a difference of $15,553 (2.9%) versus the prior year and $8,000 versus the prior month.

Phoenix's median listing price comes in at 123% of the national average.

Phoenix's average listing price for 2024-05-01 was $948,122, a difference of $31,609 (3.5%) versus the prior year and $6,491 versus the prior month.

For the 2024-05-01 period, Phoenix had 16,526 MLS listings, a difference of 1,542 listings (10%) versus the prior month and 7,360 listings (80%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Phoenix (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 59 days 2,154 sqft
2018-02-01 44 days 2,190 sqft
2018-03-01 43 days 2,247 sqft
2018-04-01 43 days 2,243 sqft
2018-05-01 43 days 2,245 sqft
2018-06-01 44 days 2,218 sqft
2018-07-01 45 days 2,180 sqft
2018-08-01 46 days 2,160 sqft
2018-09-01 44 days 2,154 sqft
2018-10-01 43 days 2,137 sqft
2018-11-01 44 days 2,137 sqft
2018-12-01 52 days 2,128 sqft
2019-01-01 59 days 2,122 sqft
2019-02-01 47 days 2,132 sqft
2019-03-01 44 days 2,172 sqft
2019-04-01 44 days 2,210 sqft
2019-05-01 46 days 2,214 sqft
2019-06-01 49 days 2,237 sqft
2019-07-01 51 days 2,254 sqft
2019-08-01 48 days 2,251 sqft
2019-09-01 43 days 2,243 sqft
2019-10-01 39 days 2,236 sqft
2019-11-01 44 days 2,215 sqft
2019-12-01 51 days 2,202 sqft
2020-01-01 57 days 2,205 sqft
2020-02-01 44 days 2,216 sqft
2020-03-01 40 days 2,202 sqft
2020-04-01 36 days 2,100 sqft
2020-05-01 49 days 2,119 sqft
2020-06-01 51 days 2,221 sqft
2020-07-01 41 days 2,208 sqft
2020-08-01 30 days 2,164 sqft
2020-09-01 27 days 2,131 sqft
2020-10-01 28 days 2,113 sqft
2020-11-01 37 days 2,028 sqft
2020-12-01 40 days 1,992 sqft
2021-01-01 42 days 1,997 sqft
2021-02-01 34 days 1,982 sqft
2021-03-01 29 days 1,978 sqft
2021-04-01 27 days 1,972 sqft
2021-05-01 27 days 1,993 sqft
2021-06-01 26 days 1,986 sqft
2021-07-01 27 days 1,990 sqft
2021-08-01 28 days 2,005 sqft
2021-09-01 30 days 1,988 sqft
2021-10-01 30 days 2,002 sqft
2021-11-01 33 days 2,002 sqft
2021-12-01 36 days 1,993 sqft
2022-01-01 37 days 1,990 sqft
2022-02-01 28 days 1,980 sqft
2022-03-01 28 days 1,940 sqft
2022-04-01 24 days 1,963 sqft
2022-05-01 22 days 1,977 sqft
2022-06-01 24 days 1,972 sqft
2022-07-01 30 days 1,942 sqft
2022-08-01 37 days 1,915 sqft
2022-09-01 46 days 1,904 sqft
2022-10-01 51 days 1,908 sqft
2022-11-01 58 days 1,910 sqft
2022-12-01 69 days 1,898 sqft
2023-01-01 74 days 1,918 sqft
2023-02-01 60 days 1,940 sqft
2023-03-01 50 days 1,976 sqft
2023-04-01 50 days 2,010 sqft
2023-05-01 45 days 2,033 sqft
2023-06-01 44 days 2,050 sqft
2023-07-01 45 days 2,039 sqft
2023-08-01 45 days 2,034 sqft
2023-09-01 39 days 2,020 sqft
2023-10-01 37 days 2,010 sqft
2023-11-01 40 days 1,984 sqft
2023-12-01 53 days 2,027 sqft
2024-01-01 60 days 2,041 sqft
2024-02-01 45 days 2,047 sqft
2024-03-01 49 days 2,031 sqft
2024-04-01 55 days 2,036 sqft
2024-05-01 61 days 2,053 sqft
Phoenix's median listing age (time on market) for 2024-05-01 was 61 days. This is 34% longer than the same period one year ago.

Phoenix's median square footage for active listings during the 2024-05-01 period was 2,053 sqft. One year prior, the average listing was 2,033 sqft.

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).