Phoenix - AZ vs St. Louis - MO: 2026 Housing Comparison

What this means for buyers

Phoenix - AZ is roughly 61% more expensive than St. Louis - MO in typical home value. Homes sit on market longer in Phoenix - AZ (38 days vs 11), suggesting more buyer leverage there.

Phoenix vs St. Louis: 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 $1,501 in St. Louis, a gap of $923 a month.

Typical rent runs $1,720 in Phoenix and $1,427 in St. Louis, so the mortgage payment alone is 1.4 times rent in Phoenix and 1.1 times rent in St. Louis, before taxes and insurance.

Home prices are 21.4 years of rent in Phoenix and 16.0 in St. Louis; the lower ratio in St. Louis means buying there is cheaper relative to renting.

Over the last 23 months typical values moved -4.5% in Phoenix and +5.4% in St. Louis; over just the last three months the change was -0.4% in Phoenix and +0.9% in St. Louis.

Homes sell for 97.9% of list price in Phoenix and 100.1% in St. Louis, after 38 and 11 days on the market, with price cuts on 32% and 29% of listings. All three signs point the same way: buyers have more room to negotiate in Phoenix.

The number of homes for sale is up 2% on a year ago in Phoenix and up 9% on a year ago in St. Louis.

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.