Typical metro Phoenix homebuyers need $186,000 down payment, Zillow says
A metro Phoenix household earning the median income needs a 40% down payment to afford a home purchase, according to Zillow.
That's because higher home prices and interest rates have outpaced income gains. Zillow's median household income for Phoenix was about $91,300.
Zillow, like most housing experts and organizations, if its monthly costs are no more than 30% of the household's income.