Total monthly cost of ownership
Cost to Own a Home in Surprise, Arizona
A $396,000 home here costs
$2,991per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $128,000 a year.
A standard mortgage calculator would have told you $2,193. The real number is $797 higher every month, 36% more than the payment most buyers budget for.
Compare Maricopa 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.
Surprise against Maricopa County and Arizona
| Measure | Surprise | Maricopa County |
|---|---|---|
| Median home value | $396,000 | $414,700 |
| Median property tax | $1,811 | $1,965 |
| Effective tax rate | 0.457% | 0.474% |
| Median gross rent | $1,917 | $1,587 |
| Population | 149,519 | 4,491,987 |
The weather behind that power bill
Surprise sits in Maricopa County, which averages a high of 106.5°F in its hottest month and a low of 42.0°F in its coldest, with 8.18" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 4,202 cooling and 1,140 heating degree days, which is what sets the $165 electricity line above.
See the full climate breakdown for Maricopa County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Maricopa County
Full Maricopa County cost breakdown · Every county in Arizona
Talk to someone who works this market
These are Surprise 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 Surprise every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Surprise I already own here and may sell
Common questions
How much does it cost to own a home in Surprise?
A $396,000 home in Surprise, Arizona costs approximately $2,991 per month with 20% down at 7.4%. That is $2,193 principal and interest, $151 property tax, $83 homeowners insurance, $233 utilities and $330 set aside for maintenance.
What is the property tax rate in Surprise?
Surprise has an effective property tax rate of 0.457%, based on a median home value of $396,000 and median real estate taxes of $1,811. That is lower than the Maricopa County average of 0.474%.
What is the average home price in Surprise?
The median owner-occupied home value in Surprise, Arizona is $396,000, against $414,700 across Maricopa County.
Is it cheaper to rent or buy in Surprise?
Median gross rent in Surprise is $1,917 a month, against $2,991 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 Surprise?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Surprise, Arizona at today's rate takes a household income of roughly $128,000 a year. That covers the full $2,991 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Surprise, 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.