The typical owner-occupied home in Cottonwood is worth about $324,100, 18% below the Arizona median of $394,500 and 3% below the national median of $332,700. Owners pay a median $1,075 a year in property taxes, about 0.33% of their home's value, lower than the Arizona rate of 0.48%. The median household earns $48,448 a year, so the median home costs 6.7 times the median income (4.9 times for Arizona). 54% of occupied homes here are lived in by their owners, and 47% of those owners still have a mortgage.
Cottonwood at a glance
| Cottonwood | Arizona | U.S. | |
|---|---|---|---|
| Median home value | $324,100 | $394,500 | $332,700 |
| Median property tax paid per year | $1,075 | $1,879 | $3,119 |
| Property tax as a share of value | 0.33% | 0.48% | 0.94% |
| Median household income | $48,448 | $79,964 | $80,734 |
| Homes lived in by their owners | 54% | 67% | 65% |
| Owner homes with a mortgage | 47% | 62% | 61% |
| Median monthly costs, owners with a mortgage | $1,503 | $1,803 | $1,963 |
| Those costs as a share of the owners' income | 19.7% | 20.5% | 21.0% |
| Median rent | $1,120 | $1,543 | $1,413 |
| Rent as a share of renters' income | 28.9% | 30.8% | 30.6% |
| Median year homes were built | 1991 | 1992 | 1980 |
| Vacant homes | 8.9% | 10.5% | 10.1% |
| Population | 12,580 | 7,378,838 | 334,922,499 |
What a typical home costs per month in Cottonwood
At this week's average 30-year rate of 7.11%, buying the median Cottonwood home of $324,100 with 20% down costs about $1,968 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,508, 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 $84,358 for the 20%-down payment. That payment is 49% of the median Cottonwood household income of $48,448; at that income and 20% down, the 28% guideline points to a home of about $186,000.
The median rent here is $1,120 a month, so owning the median home costs about $848 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $64,820 |
|---|---|
| Loan amount | $259,280 |
| Principal and interest | $1,744 |
| Property taxes (0.33% a year) | $89 |
| Homeowners insurance (our estimate, 0.5% a year) | $135 |
| PMI | $0 |
| Total per month | $1,968 |
Change the numbers in the calculator
| Down payment | $11,344 |
|---|---|
| Loan amount | $318,230 |
| Principal and interest | $2,141 |
| Property taxes (0.33% a year) | $89 |
| Homeowners insurance (our estimate, 0.5% a year) | $135 |
| FHA mortgage insurance | $143 |
| Total per month | $2,508 |
Change the numbers in the calculator
Questions about home buying in Cottonwood
What is the median home value in Cottonwood?
About $324,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cottonwood?
Homeowners pay a median $1,075 a year, which is about 0.33% 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 Cottonwood?
For the median home with 20% down at 7.11%, the payment is about $1,968 a month. Keeping that under 28% of gross income takes about $84,358 a year.
More about Cottonwood
- Mortgage Refinance in Cottonwood
- Debt Relief in Cottonwood
- Home Equity Loans in Cottonwood
- 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