The typical owner-occupied home in Somerton is worth about $232,600, 41% below the Arizona median of $394,500 and 30% below the national median of $332,700. Owners pay a median $1,304 a year in property taxes, about 0.56% of their home's value, higher than the Arizona rate of 0.48%. The median household earns $74,015 a year, so the median home costs 3.1 times the median income (4.9 times for Arizona). 74% of occupied homes here are lived in by their owners, and 64% of those owners still have a mortgage.
Somerton at a glance
| Somerton | Arizona | U.S. | |
|---|---|---|---|
| Median home value | $232,600 | $394,500 | $332,700 |
| Median property tax paid per year | $1,304 | $1,879 | $3,119 |
| Property tax as a share of value | 0.56% | 0.48% | 0.94% |
| Median household income | $74,015 | $79,964 | $80,734 |
| Homes lived in by their owners | 74% | 67% | 65% |
| Owner homes with a mortgage | 64% | 62% | 61% |
| Median monthly costs, owners with a mortgage | $1,229 | $1,803 | $1,963 |
| Those costs as a share of the owners' income | 19.7% | 20.5% | 21.0% |
| Median rent | $896 | $1,543 | $1,413 |
| Rent as a share of renters' income | 26.3% | 30.8% | 30.6% |
| Median year homes were built | 2002 | 1992 | 1980 |
| Vacant homes | 3.9% | 10.5% | 10.1% |
| Population | 14,574 | 7,378,838 | 334,922,499 |
What a typical home costs per month in Somerton
At this week's average 30-year rate of 7.11%, buying the median Somerton home of $232,600 with 20% down costs about $1,457 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,845, 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 $62,453 for the 20%-down payment. That payment is 24% of the median Somerton household income of $74,015; at that income and 20% down, the 28% guideline points to a home of about $276,000.
The median rent here is $896 a month, so owning the median home costs about $561 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $46,520 |
|---|---|
| Loan amount | $186,080 |
| Principal and interest | $1,252 |
| Property taxes (0.56% a year) | $109 |
| Homeowners insurance (our estimate, 0.5% a year) | $97 |
| PMI | $0 |
| Total per month | $1,457 |
Change the numbers in the calculator
| Down payment | $8,141 |
|---|---|
| Loan amount | $228,387 |
| Principal and interest | $1,536 |
| Property taxes (0.56% a year) | $109 |
| Homeowners insurance (our estimate, 0.5% a year) | $97 |
| FHA mortgage insurance | $103 |
| Total per month | $1,845 |
Change the numbers in the calculator
Questions about home buying in Somerton
What is the median home value in Somerton?
About $232,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Somerton?
Homeowners pay a median $1,304 a year, which is about 0.56% 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 Somerton?
For the median home with 20% down at 7.11%, the payment is about $1,457 a month. Keeping that under 28% of gross income takes about $62,453 a year.
More about Somerton
- Mortgage Refinance in Somerton
- Debt Relief in Somerton
- Home Equity Loans in Somerton
- 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