Total monthly cost of ownership
Cost to Own a Home in Lake Montezuma, Arizona
A $292,000 home here costs
$2,245per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $96,000 a year.
A standard mortgage calculator would have told you $1,592. The real number is $653 higher every month, 41% more than the payment most buyers budget for.
Compare Yavapai County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Lake Montezuma from a five-year rolling sample, and with about 4,615 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Yavapai County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Lake Montezuma against Yavapai County and Arizona
| Measure | Lake Montezuma | Yavapai County |
|---|---|---|
| Median home value | $291,900 | $392,900 |
| Median property tax | $1,424 | $1,734 |
| Effective tax rate | 0.488% | 0.441% |
| Median gross rent | $1,475 | $1,258 |
| Population | 4,615 | 241,656 |
The weather behind that power bill
Lake Montezuma sits in Yavapai County, which averages a high of 90.3°F in its hottest month and a low of 25.5°F in its coldest, with 12.85" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 1,068 cooling and 4,056 heating degree days, which is what sets the $162 electricity line above.
See the full climate breakdown for Yavapai County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Yavapai County
Full Yavapai County cost breakdown · Every county in Arizona
Talk to someone who works this market
These are Lake Montezuma averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Lake Montezuma every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Lake Montezuma I already own here and may sell
Common questions
How much does it cost to own a home in Lake Montezuma?
A $292,000 home in Lake Montezuma, Arizona costs approximately $2,245 per month with 20% down at 7.24%. That is $1,592 principal and interest, $119 property tax, $61 homeowners insurance, $230 utilities and $243 set aside for maintenance.
What is the property tax rate in Lake Montezuma?
Lake Montezuma has an effective property tax rate of 0.488%, based on a median home value of $291,900 and median real estate taxes of $1,424. That is higher than the Yavapai County average of 0.441%.
What is the average home price in Lake Montezuma?
The median owner-occupied home value in Lake Montezuma, Arizona is $291,900, against $392,900 across Yavapai County.
Is it cheaper to rent or buy in Lake Montezuma?
Median gross rent in Lake Montezuma is $1,475 a month, against $2,245 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Lake Montezuma?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lake Montezuma, Arizona at today's rate takes a household income of roughly $96,000 a year. That covers the full $2,245 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lake Montezuma, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Arizona.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.