Total monthly cost of ownership
Cost to Own a Home in Rio Rico, Arizona
A $213,000 home here costs
$1,728per 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 $74,000 a year.
A standard mortgage calculator would have told you $1,161. The real number is $567 higher every month, 49% more than the payment most buyers budget for.
Compare Santa Cruz County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Rio Rico against Santa Cruz County and Arizona
| Measure | Rio Rico | Santa Cruz County |
|---|---|---|
| Median home value | $212,600 | $216,100 |
| Median property tax | $1,378 | $1,387 |
| Effective tax rate | 0.648% | 0.642% |
| Median gross rent | $1,049 | $781 |
| Population | 21,798 | 48,209 |
The weather behind that power bill
Rio Rico sits in Santa Cruz County, which averages a high of 96.9°F in its hottest month and a low of 33.9°F in its coldest, with 14.62" of precipitation a year and 62% of it in a single three-month stretch. That climate drives 1,977 cooling and 2,039 heating degree days, which is what sets the $162 electricity line above.
See the full climate breakdown for Santa Cruz County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Santa Cruz County
Full Santa Cruz County cost breakdown · Every county in Arizona
Talk to someone who works this market
These are Rio Rico 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 Rio Rico every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Rio Rico I already own here and may sell
Common questions
How much does it cost to own a home in Rio Rico?
A $213,000 home in Rio Rico, Arizona costs approximately $1,728 per month with 20% down at 7.24%. That is $1,161 principal and interest, $115 property tax, $45 homeowners insurance, $230 utilities and $178 set aside for maintenance.
What is the property tax rate in Rio Rico?
Rio Rico has an effective property tax rate of 0.648%, based on a median home value of $212,600 and median real estate taxes of $1,378. That is in line with the Santa Cruz County average of 0.642%.
What is the average home price in Rio Rico?
The median owner-occupied home value in Rio Rico, Arizona is $212,600, against $216,100 across Santa Cruz County.
Is it cheaper to rent or buy in Rio Rico?
Median gross rent in Rio Rico is $1,049 a month, against $1,728 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 Rio Rico?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Rio Rico, Arizona at today's rate takes a household income of roughly $74,000 a year. That covers the full $1,728 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Rio Rico, 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.