Phoenix - AZ vs San Antonio - TX: 2026 Housing Comparison

What this means for buyers

Phoenix - AZ is roughly 61% more expensive than San Antonio - TX in typical home value. Homes sit on market longer in San Antonio - TX (53 days vs 38), suggesting more buyer leverage there.

Phoenix vs San Antonio: what the numbers say

At today's 7.32% average 30-year rate with 20% down, the typical home would cost about $2,424 a month in principal and interest in Phoenix and $1,505 in San Antonio, a gap of $919 a month.

Typical rent runs $1,720 in Phoenix and $1,415 in San Antonio, so the mortgage payment alone is 1.4 times rent in Phoenix and 1.1 times rent in San Antonio, before taxes and insurance.

Home prices are 21.4 years of rent in Phoenix and 16.1 in San Antonio; the lower ratio in San Antonio means buying there is cheaper relative to renting.

Over the last 23 months typical values moved -4.5% in Phoenix and -4.8% in San Antonio; over just the last three months the change was -0.4% in Phoenix and -0.6% in San Antonio.

Homes sell for 97.9% of list price in Phoenix and 97.2% in San Antonio, after 38 and 53 days on the market, with price cuts on 32% and 30% of listings. The signs are mixed: Phoenix has more price cuts, while San Antonio has longer time on the market and sales further below list.

The number of homes for sale is up 2% on a year ago in Phoenix and up 4% on a year ago in San Antonio.

Payments assume a 30-year fixed loan at the Freddie Mac weekly average rate (2026-10-22), 20% down, principal and interest only. Home values, rents and market figures are Zillow Research metro data.