The typical owner-occupied home in Cave Creek is worth about $906,100, 2.3 times the Arizona median of $394,500 and 2.7 times the national median of $332,700. Owners pay a median $2,443 a year in property taxes, about 0.27% of their home's value, lower than the Arizona rate of 0.48%. The median household earns $107,067 a year, so the median home costs 8.5 times the median income (4.9 times for Arizona). 95% of occupied homes here are lived in by their owners, and 60% of those owners still have a mortgage.
Cave Creek at a glance
| Cave Creek | Arizona | U.S. | |
|---|---|---|---|
| Median home value | $906,100 | $394,500 | $332,700 |
| Median property tax paid per year | $2,443 | $1,879 | $3,119 |
| Property tax as a share of value | 0.27% | 0.48% | 0.94% |
| Median household income | $107,067 | $79,964 | $80,734 |
| Homes lived in by their owners | 95% | 67% | 65% |
| Owner homes with a mortgage | 60% | 62% | 61% |
| Median monthly costs, owners with a mortgage | $2,625 | $1,803 | $1,963 |
| Those costs as a share of the owners' income | 26.2% | 20.5% | 21.0% |
| Median rent | $2,493 | $1,543 | $1,413 |
| Rent as a share of renters' income | 24.6% | 30.8% | 30.6% |
| Median year homes were built | 1998 | 1992 | 1980 |
| Vacant homes | 14.8% | 10.5% | 10.1% |
| Population | 5,091 | 7,378,838 | 334,922,499 |
What a typical home costs per month in Cave Creek
At this week's average 30-year rate of 7.11%, buying the median Cave Creek home of $906,100 with 20% down costs about $5,458 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,113, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $233,902 for the 20%-down payment. That payment is 61% of the median Cave Creek household income of $107,067; at that income and 20% down, the 28% guideline points to a home of about $415,000.
The median rent here is $2,493 a month, so owning the median home costs about $2,965 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $181,220 |
|---|---|
| Loan amount | $724,880 |
| Principal and interest | $4,876 |
| Property taxes (0.27% a year) | $204 |
| Homeowners insurance (our estimate, 0.5% a year) | $378 |
| PMI | $0 |
| Total per month | $5,458 |
Change the numbers in the calculator
| Down payment | $31,714 |
|---|---|
| Loan amount | $889,688 |
| Principal and interest | $5,985 |
| Property taxes (0.27% a year) | $204 |
| Homeowners insurance (our estimate, 0.5% a year) | $378 |
| FHA mortgage insurance | $546 |
| Total per month | $7,113 |
Change the numbers in the calculator
Questions about home buying in Cave Creek
What is the median home value in Cave Creek?
About $906,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cave Creek?
Homeowners pay a median $2,443 a year, which is about 0.27% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Cave Creek?
For the median home with 20% down at 7.11%, the payment is about $5,458 a month. Keeping that under 28% of gross income takes about $233,902 a year.
More about Cave Creek
- Mortgage Refinance in Cave Creek
- Debt Relief in Cave Creek
- Home Equity Loans in Cave Creek
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data