7 Arizona Cities Retirees Have the Best Shot of Owning a Home

As you enter your golden years, you may be considering relocating, and with that comes buying a house. But becoming a homeowner isn't cheap, and some places allow you to make smarter homeowner moves than others.

Known for its warm temperatures, being tax-friendly, and its outdoor activities, Arizona is a popular destination for retirees. But which cities are you most likely to be able to buy a home?

FinanceBuzz conducted a study in the last couple of years to find out where homeownership is most and least attainable. We analyzed the 100 largest cities in the country to assess how difficult it is to become a homeowner and assigned each a score for attainability. The final ranking was based on several general economic factors and housing-specific data points in each city. 

While three Arizona cities ranked among the most attainable in the country, how do they compare to the rest of the state? Here's where you stand the best chance of owning a home in Arizona, ranked from most challenging to most accessible to homebuyers.

Out of the cities we evaluated in Arizona, homeownership is the least attainable in Tucson. Residents spend 32% of their median household income on mortgage payments, and the homeownership rate in the city is 52%.

The median home sale price in Tucson is $381,600.

In the Valley of the Sun, house prices surpass $400,000. The median sale price of a home in Phoenix is $467,200.

The median household income in the city is $75,969, and residents only spend 26% of their median household income on mortgage payments, one of the lowest in the country. Almost 60% of residents call themselves homeowners in the state's capital city.

If you retire in Glendale and plan to buy a house, you can expect to put 24% of your monthly income toward paying your mortgage. This is among the lowest scores of all cities evaluated nationwide.

The median home sale price in the city is $467,200, and 60% of residents own their homes.

Owning a home is even more attainable in Mesa. The city has a homeownership rate of 65%. Homeowners in the city spend 25% of their income on mortgage payments, and the median home sale price is $467,200.

The homeownership rate in Scottsdale is the fourth-highest in the country. Here, 67% of residents own their homes. The median home price is $467,200.

Scottsdale is one of just 12 cities evaluated where the median household income exceeds $100,000, and the only one in Arizona to do so. Only 27% of the monthly income is needed to cover the city's median monthly mortgage payment.

In Chandler, a low percentage of income is needed to afford the average mortgage (22%), and houses in the city have a median sale price of $467,200. It is the second city near Phoenix in the top five most attainable places of all cities we surveyed nationwide.

There is also a high median household income. On average, residents make $98,664 per year.

Gilbert is the city in Arizona, and in the entire country, where homeownership is most attainable for retirees. The homeownership rate is 74%, and the median home sale price is $467,200.

The median household income in Gilbert is $111,393, which is among the 10 highest in the country. The median mortgage payment is just 21% of the median household income in Gilbert, the lowest rate in the country.

Not only are some cities in Arizona affordable for homeowners, but the state also has tax benefits that retirees can take advantage of.

While other forms of retirement income are taxed in the state, like distributions from retirement savings accounts, retirees won't be taxed on their social security income, which is a smart way to stretch your retirement dollars further and maximize your senior benefits.