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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603 N Grapevine Drive Payson, AZ 85541

$1,449,000
4 Beds
4 Baths
4,312 SqFt
Status Active
MLS # 6666392
Property Type Single Family Residence
Price Type --
Amazing vista views from all 3 levels of this stately home built by one of Chaparral Pines Guild Builders. A beautiful flagstone entry & foyer welcome you into the stunning great room that features a stately stone fireplace, hardwood flooring, surround sound & is further complemented by an 1,100 sq ft., wrap around deck offering magnificent mountain views! The innumerable upgrades include slate floors in the kitchen & baths, art studio/office, reading loft, master bedroom with its own fireplace & zoned heating & cooling throughout. Truly one of Chaparral Pines' premier luxury, mountain homes.

27221 N 71st Place Scottsdale, AZ 85266

$1,449,000
4 Beds
3 Baths
4,440 SqFt
Status Active
MLS # 6748322
Property Type Single Family Residence
Price Type --
Discover a rare opportunity to own and update a classic North Scottsdale compound with unparalleled potential and value. Nestled on a peaceful cul-de-sac, this expansive property spans over 1.25 acres and boasts no HOA restrictions, making it a truly unique find. Car enthusiasts will appreciate more than 2,400 sq ft of garage space, accommodating up to 7 cars or 5 cars plus an RV. The main residence offers approximately 3,404 sq ft of living space, complemented by a 530 sq ft full casita and a 506 sq ft bonus room—ideal for a home office, gym, art studio, or additional guest accommodations. In all, this property provides around 4,400 sq ft of interior space, with a generous 634 sq ft covered patio overlooking a refreshing pool. Although the home is ready for your personal touches and modern updates, it features solid bones and is appropriately priced, offering a fantastic opportunity to build significant equity or refresh it for a profitable resale. With dual entry points and ample parking for boats, cars, toys, RVs or equipment, this property stands out as a truly one-of-a-kind offering in the current market. Don't miss the chance to make this versatile estate your own!

8565 E Vista Del Lago -- Scottsdale, AZ 85255

$1,449,000
3 Beds
3 Baths
2,379 SqFt
Status Active
MLS # 6766776
Property Type Townhouse
Price Type --
Located in the highly desirable gated community of The Pinnacle North Scottsdale, this luxury property has so much to offer! Featuring abundant natural light, mountain views, soaring ceilings, a fantastic floor plan with spacious bedrooms in the main home and a 3rd inside the casita with separate entrance, new roof and new solar! The minute you enter the community you will feel the tranquility of the unique Rex Short design development. This properties expansive private courtyard showcases wall to wall glass sliding doors that can extend outdoor living and allow an abundance of natural light to flow throughout the home. Situated on a large lot with close proximity to amazing restaurants, shopping, biking / hiking trails, the Pinnacle Peak Country Club and nearby local retail that are within walking distance makes it priceless!

17857 E Fort Verde Road Rio Verde, AZ 85263

$1,448,000
3 Beds
3.5 Baths
2,681 SqFt
Status Active
MLS # 6766829
Property Type Single Family Residence
Price Type --
WATCH THE SUNRISE OVER FOUR PEAKS EACH MORNING! Come see this jaw dropping Luxurious home with stunning Views of Four Peaks in the heart of prestigious Trilogy at Verde River. This highly sought-after Latigo plan is loaded with incredible features and upgrades. This home boasts a spacious Primary Suite, Guest Bedroom and an additional GUEST CASITA, ensuring privacy and comfort for all. Additionally, there is a dedicated Office space perfect for those who work from home or desire a tranquil retreat. The kitchen is a culinary enthusiast's dream, featuring all stainless-steel appliances and exquisite details such as granite countertops and beautifully upgraded cabinets. The Smart Space/Hobby Room includes a desk area and granite countertops, catering to both convenience and style. A GUEST Casita provides an additional private space for visitors or can be used as a home office or exercise room. Practicality meets luxury with oversized garage offering ample storage. The open floor plan seamlessly blends indoor and outdoor living, creating a harmonious space for relaxation and entertaining alike. The outdoor spaces are equally enchanting. The covered patio with Exterior Fireplace is an idyllic retreat, allowing you to enjoy the outdoors all year round. It is an ideal spot to relax, unwind, and soak up the natural beauty that surrounds you. Some of the notable upgrades and features include: Extended Patio Iron Entry Door with Rain Glass Custom Designer Lighting Custom Solar Shades throughout the house and Casita GE Monogram Gas Gourmet Appliance package Upgraded cabinets with custom cabinet hardware Decorative backsplash Multi Slide Door at Great Room Custom California Closets in His and Hers Closet Floor outlet at Great Room Custom upgraded flooring Action Pack Alarm System 15 SEER AC Unit Two-tone paint package Heavy glass shower enclosure at primary bath Full shower at secondary bath Tankless Water Heater 250 gal propane tank Garage service Door Custom Landscaping with Linear Fireplace and custom built-in BBQ with custom Bar And a Lot More... Don't miss this opportunity to own a truly remarkable property in the prestigious Trilogy at Verde River. Trilogy at Verde River offers upscale Resort living at its finest and the very best of all possible worlds, close to the conveniences of affluent North Scottsdale, yet secreted within the pristine privacy of the Sonoran Desert. The amenities are World Class with Tom Lehman inspired eighteen-hole Golf course, tennis courts, pickle ball courts, and bocce ball, heated lap pool and Resort style swimming pool, hot tub, Afterburn fitness center, Helen's demonstration Kitchen for cooking classes and a 7.5 acre dog park. The community center has casual poolside dining at Eddy's Diner and gourmet dining at award-winning Needle Rock Kitchen and Tap, Alvea Spa with full-service Salon and Spa amenities, Art Loft and events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails. Whether you're seeking a second, winter home, or will live here year-round, Trilogy at Verde River is an ideal distance from the hustle and bustle of North Scottsdale. Attitudes here are different; there's a sense of community. You'll love the Resort living! What memories will you make?

8006 S 38th Place Phoenix, AZ 85042

$1,448,000
5 Beds
3.5 Baths
3,344 SqFt
Status Active
MLS # 6745776
Property Type Single Family Residence
Price Type --
Amazing opportunity to live in the gated Highline Groves community nestled within the South Mountain Preserve. Enjoy a split floor plan with an additional den/office off the garage and a sperate guest quarters off the carport which features a kitchenette and full bathroom. Easy access to hiking, golf and sky harbor airport.

100 W Northern Avenue Unit 4 Phoenix, AZ 85021

$1,445,500
3 Beds
2.5 Baths
3,063 SqFt
Status Active
MLS # 6722855
Property Type Single Family Residence
Price Type --
Welcome to 100 Northern, a unique gated new community of 17 modern homes in the heart of North Central. This model home is ready for immediate move in and features mountain views, soaring ceilings, high end finishes, a large open kitchen with an oversized island, Wolf appliances, and a walk in pantry offering you the best of North Central. With two stories, the home allows for everything to live on the first level with a primary suite, a den, laundry and living all downstairs. While upstairs features additional bedrooms and living space. Then there are the private grounds featuring a stunning community pool and large park. All work together to make this a true must see home.

7180 E Kierland Boulevard Unit 512 Scottsdale, AZ 85254

$1,445,000
2 Beds
2 Baths
1,461 SqFt
Status Active
MLS # 6725470
Property Type Apartment
Price Type --
Gorgeous luxury condo with spectacular views. Enjoy resort style living with every amenity at your doorstep! This spacious 2 bed/2 bath offers a convenient split floorplan, with expansive windows & walk-in closets in each suite. Center of the home is bright & inviting with great room featuring floor to ceiling windows overlooking city lights & the mountains beyond. Your gourmet kitchen offers prep space galore w/large island including breakfast bar seating, and plenty of lux white cabinets. Complimentary granite counters, stainless steel hardware, and Bosch appliances complete the beautiful kitchen. Both baths feature stone counters & large tiled showers + big soaking tub in primary. Enjoy cool evenings on your private patio, or head upstairs to the rooftop pool, spa, and seating. Enjoy panoramic views from the rooftop pool and patios along with running track, BBQ areas, TVs, spa, sauna, plunge pool, steam room, & entertaining areas large and small. On the main level, enjoy all the luxurious amenities you could ask for including fitness center, massage and spa, locker rooms, indoor sports courts including pickleball, basketball, and racket ball, plus party room, coffee bar, gaming room, ping pong and pool table, virtual golf, media area, numerous indoor and outdoor entertaining spaces, and even a shaded dog park with bathing and water stations. Supremely walkable location, right across the street from Kierland Commons for shopping, dining and entertainment. This unit includes 2 parking spaces conveniently located just across from the elevator, as well as a separate garage storage unit.

42222 N Olympic Fields Court Anthem, AZ 85086

$1,445,000
4 Beds
4.5 Baths
4,100 SqFt
Status Active
MLS # 6770619
Property Type Single Family Residence
Price Type --
VIEWs VIEWs VIEWs! An executive home located on one of the most iconic and coveted streets in Anthem Country Club surrounded by Million Dollar Views. Updated HVACs. Updated windows. Negative edge pool. All the finest interior upgrades! FINALLY...an opportunity in Anthem Country Club for the most discerning Buyer! This home will blow your socks off! Country Club Lifestyle with Resort Style Amenities...Anthem Country Club is managed by Club Corp which offers many great benefits to members that reciprocate around the world! Two 18 hole golf courses, Persimmons and Ironwood, designed by Greg Nash. 2 Pro shops, 2 sets of men's and women's lounges / locker rooms, 2 member restaurants, 2 gyms, 2 pools, 2 spas, several tennis courts, Gorgeous Ball Room for ongoing Member events and private events venues available as well, 2 Impressive guard gated entrances, all surrounded by breathtaking mountain and golf course views...you will love being a member of the Anthem Golf & Country Club!

12498 E Troon Vista Drive Scottsdale, AZ 85255

$1,445,000
2 Beds
2.5 Baths
2,155 SqFt
Status Active
MLS # 6751182
Property Type Townhouse
Price Type --
Located in the prestigious guard-gated community of Enclave at Sereno Canyon, this exquisite home boasts a premium corner lot, offering unobstructed views of the majestic McDowell Mountains including Tom's Thumb, and the Four Peaks vistas. This contemporary masterpiece is designed for luxury living, featuring a host of upgrades that elevate every aspect of the home. The kitchen is a chef's dream, equipped with Wolf cooking appliances, a built-in 48-inch counter-depth refrigerator, gas stove, ample cabinetry and countertop space and a stunning quartz waterfall island with seating. The Kitchen Elegance package, paired with above and under-cabinet lighting, creates a sophisticated ambiance that is perfect for entertaining. The great room & dining area, with their coffered 12-foot ceilings, are the epitome of elegance and open living, complemented by a striking floor-to-ceiling stone fireplace, two sets of nearly floor-to-ceiling four-panel sliding doors creating seamless indoor-outdoor living spaces, and custom paint throughout. The sliding doors lead to the perfectly sized and easy care covered back patio space which includes pavers, well-designed landscape, multiple lounge and dining areas, pre-plumbed gas line, and, of course, the views! The primary suite offers a serene retreat with private entry, 12-foot ceilings, and a dream bathroom complete with a separate shower and soaking tub, custom designed closet storage, and dual vanities. One additional ensuite bedroom, a private office with a large storage closet, a separate powder bath, and an oversized laundry make up the remaining living spaces. Solid core doors and plantation shutters throughout the home, upgraded tile and carpet, along with the steel and glass front door, add a touch of luxury and functionality. Extended paver patio at the front entry allows for neighborhood enjoyment and direct views of Tom's Thumb. Only steps away from the Mountain House Lodge and world-class amenities including fitness, dining, and pool. The epoxy-coated garage floor, ceiling storage racks, and walk-in storage closet provide ample space for organization. Experience the ultimate in luxury living with stunning views, contemporary design, and an array of high-end finishes.

330 N Portland Avenue Gilbert, AZ 85234

$1,440,000
4 Beds
3 Baths
3,691 SqFt
Status Active
MLS # 6696663
Property Type Single Family Residence
Price Type --
Don't miss out on this custom home located in a desirable Whitewing luxury gated community! Situated right next to the Gilbert Riparian Preserve, the location is highly sought after. This beautifully designed home features tray and coffered ceilings to add visual interest and dimension to the ten-foot ceilings. Nine-foot doors throughout add a modern touch. The bedrooms are expansive, with two of the bedrooms equipped as Master Suites with roll in showers. Right off the foyer there is a sitting room, and home office. Wait until you see the open floorplan of the family room, kitchen and dining room! The kitchen features high end appliances, granite countertops, and beautiful hard wood cabinets. Storage opportunities are endless, even in the laundry room! This home also features two walk-in pantries. With energy savings in mind, the builder increased the insulation in this carefully constructed home. An expansive backyard will beckon you to relax and enjoy the full-length covered patio. This half acre lot has multiple options for a pool location. Are you needing room for all your vehicles and toys? Look no further! This home has multiple oversized garages. One of the garages is a drive through that is tall enough to accommodate a boat! Location, amenities, and curb appeal! This home has it all!

5023 E Lucia Drive Cave Creek, AZ 85331

$1,440,000
5 Beds
4 Baths
4,587 SqFt
Status Active
MLS # 6764284
Property Type Single Family Residence
Price Type --
This beautifully partly-renovated & extremely well maintained semi-custom executive / family home exudes quality craftsmanship at every turn. The impeccable craftsmanship and high-end finishes immediately catch your eye, showcased by the 20-foot ceilings in the living room & entryway. The first floor Wood & tile floors. The kitchen is a haven for culinary enthusiasts, equipped with a Wolf cook top, SS appliances , including a built in ice maker & beverage fridge, all centered around a sprawling island that comfortably seats six...... A butler pantry & additional full pantry adds convenience, accommodating all your small kitchen gadgets. Downstairs, you'll find a bedroom with a bath. A large laundry room awaits, complete with additional access to the yard. Ascending upstairs, you're greeted by a generous loft area, perfect for a home office, fitness room, or children's play area. The master suite indulges with an all stone bathroom, including double sinks, a walk in shower, and a soaking tub. Her & his master closet are adorned with exquisite built-ins to assist in staying organized. Bedroom 3 boasts an ensuite bathroom with a shower/tub combination, while bedrooms 4 and 5 share a bathroom featuring dual sinks and a tub/shower combo. All of this in a FANTASTIC floor plan! The outdoor space forms a lush oasis, featuring artificial turf, a putting green, an expansive travertine patio (both covered and non-covered), and pool deck housing a sparkling solar heated pool and a built in spa. In addition, you have a fire pit, built in bbq & outdoor mist system. In this truly exceptional home, you'll find it hard to ever want to depart from this serene haven. Mechanically you have 2 brand new HVAC systems, newer water heater, level 2 car charger and water softener. This home is better than a new build and completely move in ready! Plus NO HOA!

2813 N 168th Avenue Goodyear, AZ 85395

$1,439,900
3 Beds
3.5 Baths
3,753 SqFt
Status Active
MLS # 6731322
Property Type Single Family Residence
Price Type --
Looking for a new place to call home this 2021 house with 3 beds & 3.5 baths is the one for you! Showcasing a delightful desert landscape, 3 car garage, & stone facade at the front. The sophisticated interior enjoys tile flooring, high tray ceilings, accent walls & a comfortable living room, ideal for receiving guests. The eat-in kitchen comes with recessed lighting, built-in appliances, white cabinets w/crown mouldings, mosaic tile backsplash, an island w/breakfast bar, walk-in pantry, & a dining area w/pendant lighting. Wonderful AZ room w/wood flooring, it includes a cozy niche ideal to be used as a reading nook. The sizable main retreat enjoys large picture windows, & an ensuite w/dual sinks, makeup desk, separate shower & tub, & a walk-in closet... The charming backyard has a paver patio & charming landscaping, the ideal place for relaxing during the evening. Do not miss the amazing amenities that the Pebble Creek Community has to offer: recreational room, Community pool, spa, workout facilities, and many sports courts await you. Don't wait to start your new life here!

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