Buying A Home Is More Affordable Than Renting In 54% Of US Counties

Buying A Home Is More Affordable Than Renting In 54% Of US Counties | Simplifying The Market

According to ATTOM Data Solutions’ 2018 Rental Affordability Report, “buying a median-priced home is more affordable than renting a three-bedroom property in 240 of 447 [or 54% of] U.S. counties analyzed for the report.”

For the report, ATTOM Data Solutions compared recently released fair market rent data from the Department of Housing and Urban Development with reported income amounts from the Department of Labor and Statistics to determine the percentage of income that a family would have to spend on their monthly housing cost (rent or mortgage payments).

Daren Blomquist, Senior Vice President of ATTOM Data Solutions had this to say:

“Although buying is still more affordable than renting in the majority of U.S. housing markets, the majority is shrinking as home price appreciation continues to outpace rental growth in most areas.”

However, the report also shows that the average fair market rent rose faster than average weekly wages in 60% of the counties analyzed in the report (266 of 447 counties). With rents rising, many renters should consider buying a home soon.

Bottom Line

Rents will continue to rise, and mortgage interest rates are still at historic lows. Before you sign or renew your next lease, let’s get together to help you determine if you are able to buy a home of your own and lock in your monthly housing expense.  Give me a call – J.P. Cook – 602-320-4253.

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2477 E Glenhaven Drive Phoenix, AZ 85048

$1,634,000
5 Beds
3.5 Baths
4,324 SqFt
Status Active
MLS # 6772786
Property Type Single Family Residence
Price Type --
Nestled on nearly 2.5 acres of pristine hillside, this custom home offers the perfect blend of luxury, privacy, and breathtaking views. Located in a prime Ahwatukee location on the edge of a mountain preserve, this architectural gem is truly one of a kind and boasts 5 bedrooms, 3.5 baths, a huge game room, multiple high-end modern built-ins, and an expansive 4-car garage and RV-niche with ample room for all your toys. Step inside to discover stunning contemporary design features, including designer concrete floors, soaring ceilings, rounded walls, and 8' single-panel interior doors. Seamless windows flood the space with natural light, while unique art niches and a dramatic curved staircase make a striking impression. The newly updated kitchen, completed in 2024, is a chef's dream with a Wolf gas cooktop, Sub-Zero fridge, 144-bottle built-in Sub-Zero wine fridge, quartz countertops featuring a waterfall breakfast bar, and a matching quartz backsplash. Fresh interior paint throughout offers a modern, crisp feel. This home has tons of storage! The primary bedroom with an en-suite bathroom, was fully remodeled in 2021, and serves as a luxurious retreat. The spacious bedroom with two balconies provides generous mountain views and pocket patio door. The en-suite bathroom features a luxurious freestanding bathtub lighted by a stunning glass chandelier overhead, glass tiled walk-in shower, floating vanity with dual sinks, leather finish granite, sleek designer fixtures, and his and hers walk-in closets. The master bathroom will make you feel like you are at the spa! Every detail has been thoughtfully designed to create a serene escape and elegant atmosphere. Want fun? The game room is spacious enough to fit the pool table, an 18' foot shuffle board, and arcade and pinball machines. The home also features a built-in sound system that ensures you can enjoy your favorite music throughout. The resort-style backyard, immediately adjacent and just outside the large pocket slider, is an entertainer's paradise, complete with a remodeled pool with newly installed copper water features, nearly $30K worth of modern Turkish travertine decking, extensive landscape lighting and awe-inspiring mountain views. Whether lounging by the pool or enjoying outdoor dining, you'll appreciate the peaceful privacy this hillside retreat offers. Located in an award-winning school district, within walking distance of highly performing elementary, middle, and high schools, and minutes from South Mountain Park, shopping, dining, and Phoenix Sky Harbor International Airport, this home combines luxury living with convenience. This is a rare opportunity to own a one-of-a-kind home in a desirable Ahwatukee location, offering both convenience and serene mountain living. Don't miss out!

9598 E Southwind Lane Scottsdale, AZ 85262

$1,630,000
3 Beds
3 Baths
3,176 SqFt
Status Active
MLS # 6786391
Property Type Single Family Residence
Price Type --
Experience luxury living in the sought-after Fairways at Troon North! A stunning custom iron glass door welcomes you to this 3-bedroom, 3-bathroom residence featuring an updated floor plan, masterfully redesigned to create an open concept layout that combines both style and functionality. The gourmet kitchen is equipped with Bosch stainless steel appliances, a GE Monogram refrigerator and cooktop, Dacor wine coolers, and an under-counter Wolf microwave. The light and bright great room boasts large windows that flood the space with natural light, complementing the beautiful finishes found throughout the home. The office is tastefully appointed with custom built-in bookcases and cabinetry. The spacious primary suite offers a tranquil escape with an en-suite bathroom and sliding glass doors leading to the backyard oasis. Outside, enjoy the beautifully upgraded backyard that is perfect for entertaining or relaxing in style with a patio pergola, misters, Sedona Lynx grill with built-in seating, a cozy stone fireplace, outdoor lighting, and lush vegetation that creates privacy. Located in the heart of Troon North, minutes from Troon North Golf Club, Tom's Thumb Trailhead, and a variety of dining and retail options, this home offers unparalleled luxury in one of Scottsdale's most desirable communities.

1523 N 103rd Street Mesa, AZ 85207

$1,630,000 - 4Br/5Ba -  for Sale in None, Mesa
New
$1,630,000
4 Beds
4.5 Baths
4,279 SqFt
Status Active
MLS # 6787619
Property Type Single Family Residence
Price Type --
NE Mesa living without an HOA. Sitting on just under one-acre corner lot. Meticulously Maintained with no expense spared. Beautiful curb appeal with amazing mountain views, Sunrise/sunsets in all directions. Prime location, within walking distance to Trail heads at Usery Mt. Regional Park, and short driving distance to nearby Canyon and Saguaro Lakes. Private courtyard with stone fountain. Enter the grand foyer with vaulted ceilings thru the huge arched iron door with 22' ceilings in great room. Custom kitchen with stainless-steel built-in Viking appliances and a Thermador gas cooktop, custom staggered cabinetry with granite countertops. There are 2 islands & a raised wet bar area that separates the kitchen. Travertine floors throughout the main living areas. There are 3 ensuite bedrooms, all with walk-in closets. The master has lighted ceiling, a huge master bath w/separate vanity, walk in shower, walk in closet w/custom cabinets and its own washer & dryer. Plenty of space to store your toys in the detached shop. Stunning back yard with pool, hot tub, gas fire pit, outdoor shower, and putting green. Then retreat to the observation deck to take in the beautiful sunsets.

7934 W Orangewood Avenue Glendale, AZ 85303

$1,625,000
2 Beds
1.5 Baths
1,080 SqFt
Status Active
MLS # 6746362
Property Type Single Family Residence
Price Type --
Large 3.6 Acre Ranches are scarce in Glendale, but this sprawling horse property is available! The main residence features an inviting living room with a soothing palette and carpeting. Two cozy bedrooms provide peaceful retreat. Additionally, a separate modular home on the property offers versatile additional living space. The detached garages accommodate up to six vehicles & extensive storage space. The expansive grounds are an equestrian lover's dream, offering vast space for horses and facilities to maintain and train your equine companions. Don't miss out on this fantastic opportunity! R-6 Zoning also permits for developing a community if you are looking to invest and develop in the sought after city of Glendale this is your opportunity! Lets talk about the infinite possibilities!

56444 N Vulture Mine Road Wickenburg, AZ 85390

$1,625,000
3 Beds
2 Baths
2,493 SqFt
Status Active
MLS # 6757823
Property Type Single Family Residence
Price Type --
Income property in Wickenburg, spanning across 12.432 acres with an additional 5 acres available, is a remarkable real estate opportunity that offers a range of features and amenities, main house 2493 sq ft w/3 bd -2 bath, walk in pantry equipped with freezer, new washer & dryer, 2 fireplaces creating a cozy environment, new flooring in master with 2 lg closets, impressive upgraded 1800 sq ft guest house 2bd/2 bath with ample space through out, stackable washer & dryer included, outdoor fireplace, salt water pool with new system, circular driveway offers easy access to both houses & horse set up, Arena 170 x 200, hay shed & tackroom 20 x 80 with full electric & outlets, 6 horse pens with covers, 20 x 24 square pen for training, private well, 3 septics, 3 Rv hook-ups, this is a must see

23632 N 81st Place Scottsdale, AZ 85255

$1,625,000
5 Beds
3.5 Baths
3,581 SqFt
Status Active
MLS # 6766115
Property Type Single Family Residence
Price Type --
Wow, just wow! Exceptional 5 bed 3.5 bath custom home sits on over one-acre lot in a cul-de-sac in Pinnacle Peak Estates. The impressive interior boasts tile flooring, recessed lighting, and vaulted ceilings. The spacious gourmet eat in kitchen showcases a plethora of cherry wood cabinets, tile backsplash, granite counters with a huge island. Owner suite has been remodeled to include heated floors. One bedroom is en-suite with a walk-in shower. Backyard is a dream, from the large resurfaced pool with waterfall and spa, to the built in grilling area with bar and a greenhouse. Pride of ownership shows with the freshly painted exterior, paid off solar and new roof. There is even an airconditioned playhouse and playground. Plenty of room on the lot left for a guest home. Location is A+ built-in appliances, and an oversized island with a breakfast bar. The primary bedroom hosts outdoor access, plush carpet, a seating area, and a full ensuite with two vanity sinks, a jetted tub, a step-in shower with frosted glass doors, and a walk-in closet. The backyard is an entertainer's dream, featuring an extended covered patio, a pergola with an outdoor kitchen, multiple paver seating areas, and a fantastic pool with spa, grotto & slide. Everything you're looking for, you'll find it here! Don't miss this one-of-a-kind opportunity. Act now!

3730 E Cloud Road Cave Creek, AZ 85331

$1,625,000
4 Beds
3 Baths
3,264 SqFt
Status Active
MLS # 6765683
Property Type Single Family Residence
Price Type --
Everyone who walks into this home says ''Wow!'' Gorgeous home on an appx acre. Custom travertine in all walk areas. High end finishes t/o. Gorgeous island kitchen featuring cherry stained knotty alder cabinets, granite, 48'' Prof. Viking 6 burner gas stove with grill. Pot filler over stove, warming drawer, prep sink in island, and trash compactor. Sub Zero refrigerator. Breakfast nook. The wet bar features a wine chiller and refrigerator, sink and granite counter. The split primary bedroom features a snail shower, separate partner sinks, and a gas fireplace over the bubble tub. Two bedrooms share jack and jill bathroom. Hard-wired Ring video doorbell w/ backyard ring video floodlights. Backyard features a deep patio with scenic views of the mountains. Whole home hard wired audio sy

1637 N Quartz Valley Road Scottsdale, AZ 85266

$1,625,000 - 3Br/4Ba -  for Sale in The Boulders, Scottsdale
Open House
$1,625,000
3 Beds
4 Baths
4,090 SqFt
Status Active
MLS # 6749533
Property Type Single Family Residence
Price Type --
One of a kind, private retreat nestled in the heart of The Boulders with no neighbors on one side,! This charming home is on a large lot and features wood-beamed ceilings, temperature controlled wine room, clerestory windows and a 720 sq. ft. detached guest house with living room, bedroom, bathroom and fireplace. The main house boasts an inviting living room, bright kitchen with island that opens to an enchanting family room and a bonus room with Murphy bed. A generous primary suite offers double walk-in closets, fireplace and sitting room/office with backyard views and additional fireplace. Enjoy the surrounding desert and views of the 11th & 12th fairways from multiple outdoor patios with fireplace, cascading water feature, built-in BBQ and private pool with additional water feature. The spacious 2 car garage has ample space for a golf cart, which is included.

110 Appaloosa Way Sedona, AZ 86336

$1,620,000
4 Beds
3 Baths
2,609 SqFt
Status Active
MLS # 6748783
Property Type Single Family Residence
Price Type --
Southwest Luxury and Elegance abounds within this beautifully appointed Custom West Sedona Gem built by Casa Natural. With STELLAR Red Rock views of Thunder Mountain and Chimney Rock, get ready to fall in love the moment you pass through the entry gates. Privacy and Zen-like tranquility delight the senses combined with the perfect location with easy access to hiking/biking trails, shopping and dining. Creatively and masterfully designed with UPGRADES GALORE featuring Great Room Living with 10 &12 ft ceilings. Upon entering, the massive stacked rock wall invites you in, creating harmony with the red rock views through a generous array of glass windows. Several interior walls are angled, all with rounded corners complemented by gorgeous Travertine floors, majestic 8 ft wood doors and rich cabinetry throughout. Native Trees provide privacy from every room creating the feeling of remoteness and connection to nature. Chef's Kitchen boasts granite counters, center island w/ SS prep sink and sitting area, custom cabinets including generous pantry closet with custom slide outs, Stainless Premium KitchenAid gas cooktop, fridge, double stacked ovens and newer BOSCH dishwasher, breakfast nook, wet bar w/beverage fridge and additional office space w/storage. Easy transition to casual dining on the adjacent outdoor patio. SPACIOUS Primary Bedroom Suite offers incredible red rock views, dual vanities, walk-in shower, separate tub and spacious walk-in closet with built-in shelving system. Plenty of space for guests with an additional ensuite bedroom w/walk-in closet plus two more guest bedrooms/office space. Relax and rejuvenate in nature with a choice of two patios and HUGE north facing deck while taking in views of Lizard Head Rock and Cockscomb. In the cooler months, cozy up inside with a blanket and a novel next to the warmth of the steel walled fireplace accentuated by a stacked rock wall. Additional features include ceiling mounted speakers in great room, home alarm system, Carbon Monoxide detector, Berber carpet in bedrooms, recirculating hot water, water softener and reverse osmosis. Warranties in place for HVAC, Roof, Dishwasher and termite treatment . Hot tub, jetted tub, hood over cooktop is not warranted by Seller. Washer Dryer and TV do not covey with sale.

7730 N 2nd Avenue Phoenix, AZ 85021

$1,620,000 - 4Br/3Ba -  for Sale in Imperial Estates, Phoenix
Open House
$1,620,000
4 Beds
3 Baths
2,761 SqFt
Status Active
MLS # 6787413
Property Type Single Family Residence
Price Type --
**Immaculate remodel** An extraordinary opportunity to own a stunning corner lot in the heart of North Central Phoenix. The upgrades are unparalleled, from the high end Cafe appliances, custom soft-close cabinets and textured quartz countertops. New roof, new AC/heat, water heater, floors, cabinets, plumbing, wiring, windows, paint...consider this home newly built. Everything has been updated with the finest level of modernized touches! Plus an incredible 4 car garage! A rare find in North Central Phoenix, fitted with custom flooring and cabinetry. Located in the highly sought-after Central Corridor, this home is surrounded by a vibrant community that perfectly blends historic charm with urban convenience, exceptional schools and a family friendly neighborhood. This home will not last!

38844 N 11th Avenue Phoenix, AZ 85086

$1,619,999
4 Beds
3 Baths
4,116 SqFt
Status Active
MLS # 6773535
Property Type Single Family Residence
Price Type --
Oasis in the Desert! Stunning Ingram built home on 1.13 acre lot. Out front you will find a Circular driveway and regal stone entry which lead to a large private courtyard with fireplace. Expanded floorplan with 10 foot and 12 foot ceilings. Travertine floors and base throughout. Separate family and living rooms. 4 bedrooms plus a 17'5x13' den/office with barn entrance doors. Then there is a 6th room near the family room loaded with cabinets and a sink. It also has a separate exit. Excellent room for an office. Roomy eat in kitchen with island and ample cherry cabinets. Granite countertops, built in fridge, and breakfast bar. More than enough room to entertain. Oversize master bedroom is 25'9x18'. Plenty of room for a sitting area. Huge walk in closet also has a 12' ceiling. Master bath features a jetted garden tub, walk in shower with stone surrounds to the ceiling. Nice size secondary bedrooms and one has its own private bath. 8' over height interior doors throughout. Oversize laundry room with plenty of cabinets/tops and a wash basin. Backyard is absolutely loaded with upgrades and truly is resort style living. This yard is fully landscaped, very private, and an entertainers dream. 25'5x13' covered patio and large amounts of stone leading out. Current owners even removed some of the stone and re-leveled to perfection. Playpool with water feature and a heated spa. Pool was converted to chlorine but could go back to salt. There is a beautiful Ramada with its own fireplace. RV gate and parking on the side with plenty of room for an RV garage to be added. Landscaping is the nicest you will find in Desert Hills. Some of the trees featured are Mesquite, Palo Verde, Orange, Lime, Grapefruit, Pomegranate, Kumquat, Lemon, Japanese Orchid. All recently trimmed. Recently a putting green was installed to improve your game. There is also a huge BBQ island to entertain a large group if you wish. The following has been done in the last couple of years. New interior paint 100%. New exterior paint 100%. New rain gutters. New window screens. Putting green. Endless amounts of rocks, landscaping, plants, pavers, travertine, etc. All new lights inside and outside. All new ceiling fans. All new outlets and switches. New carpet. New RV and man gates. Just over two years warranty from Maximum left on the termite package and 100% stem wall treatment. New roof. New 2 x 5 ton AC units, one x 2 ton. Upgraded Nest climate control. Just finished 100% full yard pruning of trees, $5000 worth of labor. All LED lighting on property. There is a 23.2 KW solar system for low utilities. It also includes an extended warranty. Water softener was just replaced. 3 car garage loaded with built in cabinets. Floor coating recently done. Shared well with storage tank and only two users. Beautiful home and is move in ready!! Full set of photos coming soon.

11656 N Silverwood Drive Oro Valley, AZ 85755

$1,615,000
4 Beds
3 Baths
3,045 SqFt
Status Active
MLS # 6781588
Property Type Single Family Residence
Price Type --
Attention all particular home buyers, this home is exceptionally cared for, in a Gated community. For sale in the highly sought after community of Oro Valley. This home sits on one of the most panoramic view lots in all of Oro Valley The exceptional views of the Catalina Mountains are visible from the entire back of this home. Other listings will tell you they have ''views of the Catalina's'', but if your priority is a true, unobstructed view lot, this home is for you. This home sits at the end of a cul-de-sac with no neighbors across from you. Because of it's location, this home offers true indoor/outdoor living at it's finest

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