Total monthly cost of ownership
Cost to Own a Home in Payson, Arizona
A $343,000 home here costs
$2,471per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,763. The real number is $707 higher every month — 40% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Payson against Gila County and Arizona
| Measure | Payson | Gila County |
|---|---|---|
| Median home value | $343,200 | $247,000 |
| Median property tax | $1,735 | $1,331 |
| Effective tax rate | 0.506% | 0.539% |
| Median gross rent | $1,355 | $1,001 |
| Population | 16,494 | 53,610 |
The weather behind that power bill
Payson sits in Gila County, which averages a high of 103.7°F in its hottest month and a low of 39.6°F in its coldest, with 15.91" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 3,559 cooling and 1,627 heating degree days, which is what sets the $137 electricity line above.
See the full climate breakdown for Gila County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Gila County
Common questions
How much does it cost to own a home in Payson?
A $343,000 home in Payson, Arizona costs approximately $2,471 per month with 20% down at 6.66%. That is $1,763 principal and interest, $145 property tax, $72 homeowners insurance, $205 utilities and $286 set aside for maintenance.
What is the property tax rate in Payson?
Payson has an effective property tax rate of 0.506%, based on a median home value of $343,200 and median real estate taxes of $1,735. That is lower than the Gila County average of 0.539%.
What is the average home price in Payson?
The median owner-occupied home value in Payson, Arizona is $343,200, against $247,000 across Gila County.
Is it cheaper to rent or buy in Payson?
Median gross rent in Payson is $1,355 a month, against $2,471 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Payson — 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.