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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8843 N 63rd Place Paradise Valley, AZ 85253

$5,995,000
5 Beds
5.5 Baths
5,930 SqFt
Status Active
MLS # 6684784
Property Type Single Family Residence
Price Type --
The warmth of a Santa Barbara with modern updates ! A front patio with fireplace and comfy seating opens to the dining room with a custom wine wall . Chefs kitchen with island and seating is a part of the family room featuring sit down bar , humador, wine fridge and ice maker. Split primary suite has lounge area and private patio plus killer closets and bathroom . Attached casita/ gameroom / or bedroom 5? Bedroom 4 can be an office with builtins and full bath . Two additional bedrooms have private ensuite and walk in closets. Resort vibes in back include a huge bbq ramada, tv/bar ramada , kids play area, pool and spa and putting green. This is the season for the PARTY BACKYARD .Also a Lift in the garage ! Well maintained and upgraded tastefully .

9701 E Happy Valley Road Unit 10 Scottsdale, AZ 85255

$5,995,000 - 5Br/5Ba -  for Sale in The Peak, Scottsdale
Open House
$5,995,000
5 Beds
4.5 Baths
5,745 SqFt
Status Active
MLS # 6758072
Property Type Single Family Residence
Price Type --
Extraordinary opportunity to bypass the new construction cost premium & build time! This magnificent 'jewel-of-the-desert' resort-style paradise awaits you on a premium, spacious 4.5 acres, commanding majestic Pinnacle Peak & City Light Views. Experience the allure of the Peak 10, a completely reimagined & designed Salcito estate (finished 2024) that epitomizes enduring luxury in prestigious North Scottsdale - one of the most desirable destinations in the Valley. Amidst an enchanting saguaro-studded landscape & botanical desert oasis, is your opportunity to experience an unparalleled Arizona estate, seamlessly blending refined elegance with beautiful contemporary style & finishes. See spec sheet details for every modern convenience & amenities - what you would expect in a luxury setting! With 4.5 acres of flat developable land, there is plenty of room to expand more livable area with a detached casita, addl garage areas (auto-storage/car display), a pickleball or a tennis court, with HOA & City of Scottsdale approvals, permitting process. As you wind your way up the tree-lined paved driveway, a profound sense of arrival envelops you. The Peak 10 stands proudly within the secure confines of The Peak gated community, with 360-degree panoramic views, from the majestic Pinnacle Peak and surrounding Troon and McDowell Mountains, the sweeping vistas extend to glittering city lights below and vibrant sunsets. Every glance offers a monument to nature's grandeur and the height of sophistication. Step inside and be transported to a realm where modern design meets refined living. With over 7,900 square feet under roof, this residence has been meticulously re-envisioned inside and out with a desert-neutral palette and premium finishes that elevate your senses. The grand glass entryway welcomes you with a flood of natural light, highlighting a see-through marble-encased fireplace and a custom LED-lit floating wood and steel staircase. An enclosed elevator ensures effortless access to the private upstairs guest quarters area, where guests will revel in their own luxurious retreat. The heart of this home is a culinary masterpiece - a kitchen that seamlessly marries beautiful form and function. Equipped with top-of-the-line Thermador appliances, a striking ijen blue quartzite waterfall island, and pristine white crystal quartzite surfaces, this kitchen is as practical as it is breathtaking to behold. Adjacent to the kitchen, the entertainment area with illuminated crystal quartzite bar and backsplash, a glass-encased wine display provides the perfect setting for unforgettable gatherings and daily living. Indulge in a luxurious setting of over 1,650 square feet of shaded outdoor living space. The resort-style backyard features a linear aquamarine pool and spa, framing an awe-inspiring backdrop of Pinnacle Peak. Imagine mornings spent sipping coffee outdoors by the fire-table or evenings enjoying cocktails as the flames of the gas-burning fire-rock feature dance against the twilight sky. The full outdoor kitchen area stands ready to host your most festive celebrations. Privacy and tranquility define this desert sanctuary, yet you are mere moments away from Scottsdale Airpark FBO with world-class aviation services and amenities. Indulge in Scottsdale's vibrant culinary scene, luxury shopping, and world-renowned golf courses. The Peak 10 is more than a home - it's a destination where every day feels like a luxurious retreat. Don't miss this extraordinary opportunity to own a residence that is not just a place to live but a testament to the finer enjoyment of life. For a comprehensive list of features and amenities, please refer to the detailed Feature/Spec Sheet. Experience Peak 10. Elevate your lifestyle to new heights.

5815 N Kiva Lane Paradise Valley, AZ 85253

$5,990,000 - 4Br/5Ba -  for Sale in Mcdonald Estates, Paradise Valley
New
$5,990,000
4 Beds
4.5 Baths
4,305 SqFt
Status Active
MLS # 6776483
Property Type Single Family Residence
Price Type --
For the refined buyer seeking exceptional craftsmanship, exquisite finishes, and a serene home with enduring grace and effortless comfort. Experience timeless sophistication in this one-of-a-kind Desert Jewel Box, ideally located in the heart of Paradise Valley, with breathtaking views of Camelback Mountain, the McDowell Mountains, Four Peaks, Mummy Mountain, and the Phoenix Mountain Preserve. Designed by acclaimed architect Susan Biegner of Biegner-Murff and expertly constructed by Nance Construction, this home showcases impeccable artistry and attention to detail, from its hand-applied lime wash to the steel windows, doors, and custom plaster fireplaces. Enter through the front courtyard into the formal living room, where sweeping views of Camelback Mountain and the iconic Praying monk greet you. The backyard oasis, complete with a sleek linear pool and lush landscaping, serves as the perfect focal point, visible from nearly every room. Sunlight pours over French Oak floors, creating an inviting and spacious atmosphere throughout the home's open floor plan. The family room, featuring a unique hand-plastered fireplace, flows seamlessly into the chef's kitchen, which boasts marble countertops, a waterfall island, a Sub-Zero refrigerator, and a La Cornue range. The kitchen overlooks the tranquil center courtyard, complete with a water feature and an Orchid tree, adding to the home's serene ambiance. Retreat to the primary suite with its spa-like bathroom, offering stunning views of Camelback Mountain, dual vanities, a glass-enclosed shower, a soaking tub, and an expansive walk-in closet. Each secondary bedroom includes en suite bathrooms, and the office or fourth bedroom features a private entrance from the center courtyard. The exterior grounds provide both privacy and space, with lush lawns, desert landscaping, and a sparkling pool with steps leading to a submerged spa. Whether relaxing under the ample shade or enjoying the desert's endless sunsets and starlit skies, this Paradise Valley home is an extraordinary retreat.

160 N Country Club Drive Phoenix, AZ 85014

$5,975,000 - 5Br/6Ba -  for Sale in Country Club Place, Phoenix
Open House
New
$5,975,000
5 Beds
5.5 Baths
5,777 SqFt
Status Active
MLS # 6786539
Property Type Single Family Residence
Price Type --
Blending timeless elegance with modern sophistication, Villa Sereno masterfully combines historical charm with contemporary design. With refined, simplified ornamental details, a graceful gable roof, and a Zaguan-inspired entry, this home creates a seamless connection between indoor and outdoor living. Every thoughtfully crafted corner offers a peaceful retreat, transforming the property into a serene sanctuary. Situated in a tranquil, sought-after location on the 14th green of the prestigious Phoenix Country Club, the 0.64 acre estate offers unobstructed views down the entire parkland-style course. The home comprises 5,777 livable square feet and 8,713 sf under roof and includes a 4-plus car, 1,515 sf garage and separate Casita. Discover something truly special.

1392 Moqui Drive Happy Jack, AZ 86024

$5,950,000
8 Beds
10 Baths
8,144 SqFt
Status Active
MLS # 6768570
Property Type Single Family Residence
Price Type --
Welcome to Northern Arizona's premier Log Ranch. Over 8,000 sqft on 120 acres offering privacy and breathtaking panoramic views. Arrive under an illuminated porte-cochère, and you're greeted by expansive terrace views and a profound sense of peace—an experience reserved for only a fortunate few. Featuring 150-year-old hardwoods sourced from an old whiskey factory and stunning beamwork reclaimed from a shipwreck. Relax in an observatory room with a retractable roof, perfect for stargazing. The kitchen has granite countertops, a commercial-grade range, and both casual and formal dining areas. Outdoor amenities include fire pits, a swim spa, and a flagstone patio for serene relaxation. With a private well, solar system, and generator, this retreat is self-sufficient and luxurious.

4601 N 49th Place Phoenix, AZ 85018

$5,950,000
5 Beds
5.5 Baths
5,764 SqFt
Status Active Under Contract
MLS # 6766330
Property Type Single Family Residence
Price Type --
In the heart of Arcadia proper, the most exclusive and desirable neighborhood in Phoenix, this modern farmhouse built in 2017 is the perfect family home. Featuring 5764 sqft on .61 acres (all one level, no interior steps), the masterfully designed floorpan offers 5 bedrooms, 5.5 bathrooms, formal & informal entertaining areas, an office, & a playroom/flex room (playroom can easily be converted to a 6th bedroom). The enchantment begins at the curb where a lovely brick walkway leads to front courtyards including a picture-perfect outdoor living room with a very special exterior fireplace. Upon entering, take in the warmth of the textures from hardwoods to brick accents, hand-cut beams and tasteful wall paneling. The great room is the heart of the home with abundant space for entertaining, dining & lounging. The chef's kitchen features designer finishes, requisite appliances (Sub Zero, Wolf), and a bar with gravitas. The lush backyard offers views of Camelback Mountain, a saltwater pool, spa, outdoor kitchen, plus plenty of grassy areas for play. The primary suite with a private den is a romantic escape at the end of the day. Other pertinent details include: Control 4 home automation and speakers inside & out. Owned 18.72 kW solar added in 2022 (near net zero) with integrated battery system. 3-car garage with huge workshop area and Tesla charger. Perfectly located equidistant (3 miles) to Old Town Scottsdale and also the Biltmore, Arcadia offers suburban charm with urban convenience. There is a unique sense of community here where neighbors strolling and biking is the norm. Walk to Hopi Elementary School and only 1.7 miles to Phoenix Country Day School. 6.2 miles to Sky Harbor Airport and 11.6 miles to Scottsdale Airport.

6412 E Doubletree Ranch Road Paradise Valley, AZ 85253

$5,950,000
9 Beds
11 Baths
12,319 SqFt
Status Active
MLS # 6668086
Property Type Single Family Residence
Price Type --
Welcome to Casa Linda, a 1.74 acre oasis in Paradise Valley! This gated estate exudes a resort lifestyle with 3 pools, spa, sauna, sport court, and green landscape (on a drip system). Ideal for a car enthusiast, the property has a 4-car attached garage and a detached 6-car garage with RV drive-thru. An entertainer's dream, enjoy a chef's kitchen with Lacanche range, wine room, theater, game room, putting green and more. The main home features a split master wing, 3 add'l ensuite bedrms and separate office. The custom home boasts hand-carved doors, mosaics, ceiling murals and stone. A detached 5 bd/5ba guest house is great for long term guests or extra purpose rooms (exercise rm, second home office). Enjoy this retreat while being located minutes from Scottsdale's best dining and shopping!

5201 N Saddle Rock Drive Phoenix, AZ 85018

$5,950,000
5 Beds
5 Baths
6,179 SqFt
Status Active
MLS # 6761732
Property Type Single Family Residence
Price Type --
Welcome to White Gates, an elevated Arcadia Hillside acre estate, located in the glow of Camelback Mtn with city skyline & sunset views. Built ground up with the highest attention to detail, quality construction & the intention of capturing gorgeous views in every room, this home has it all. This nearly 6200 SF home was recently renovated in 2022 with a fresh design & luxury interior that seamlessly blends a calm CA feel while embracing the beauty of the AZ desert. You'll feel worlds away from the hustle in this private Santa Barbara style 5 bedroom 5 bath home, located in Hopi school district on the south slope of Camelback. Arrive to find the most welcoming arched front entry & private landscaped courtyard featuring detailed brick ceilings, herringbone pavers & one of 5 fireplaces. Enter through a grand arched wooden door to find a Foyer featuring a floor to ceiling arched window revealing views of Camelback Mtn, a gorgeous fountain & green manicured backyard. The Living room with gorgeous wood beams, wood floors, floor to ceiling French doors & a stately Canterra fireplace opens up to the bright & beautiful Family Room. The main house offers 4 bedrooms, 4 baths, a formal Living Room, formal Dining Room, Family Room, Bar, 800 bottle temperature controlled Wine Cellar, elevated designer Kitchen & round Breakfast Room w north courtyard access, Pantry, spacious Theater, two covered terraces for outdoor entertainment & two custom Laundry Rooms. Each oversized bedroom has its own private view plus rich wooden French doors, custom curtains, high ceilings, wood floors & walk-in closets. City skyline & Camelback Mtn views are absolutely unmatched from the hotel style Primary Suite, a serene room with cathedral ceilings, custom lighting, custom curtains, gas fireplace, TV, coffee bar, walk-in custom closet, flex office space & laundry room. Experience unparalleled city views from the newly renovated Primary Bath, offering two vanities, large vanity mirrors, custom lighting, tiled floors, tiled walk-in shower & a spacious Kohler bathtub w brass hardware. You can wow your friends in the covered outdoor view Terrace which captures 360 degree views and offers the best entertainment around the outdoor gas fireplace, TV & outdoor bar. Enjoy more Camelback views from the Dining Room, the Kitchen, the Breakfast Room & even the Laundry Room. The Kitchen comes fully loaded with an oversized granite island, travertine floors, high-end stainless appliances, 2 dishwashers, a 6 burner gas range, double ovens, custom Canterra hood, 2 beverage drawers, a built-in warming drawer & microwave, 2 sinks, custom cabinetry, 3 pull out trash cans & a built-in breakfront perfect for your china. Off the Kitchen, you'll find a fabulous beamed outdoor dining space with gas fireplace & a fabulous outdoor Kitchen featuring a Green Egg smoker, large 4 section infrared grill, built-in beverage cooler, sink, lighting & counter seating. Walk through the covered breezeway to the attached one bedroom one bathroom Casita which is well equipped with it's own spacious bathroom, kitchenette, walk-in closet, storage closet & separate 1 car garage. Putt & chip on the new turf putting green, sit under the trees by the fire pit or enjoy ping pong in the outdoor covered game area. Two separate paver driveways allow for a grand front entrance & a side motor court entry to the 4 car garage w storage cabinets & temperature controlled storage room. Turf, grass & indigenous desert landscaping offer a low maintenance backyard with less water usage. Security cameras throughout. This incredibly special estate is one of a kind & truly offers an unparalleled tranquil experience of sunrises & sunsets that will make you fall in love.

28145 N 91st Street Scottsdale, AZ 85262

$5,950,000 - 6Br/8Ba -  for Sale in Merit Crossing, Scottsdale
Open House
$5,950,000
6 Beds
7.5 Baths
9,607 SqFt
Status Active
MLS # 6653911
Property Type Single Family Residence
Price Type --
This privately gated 9,607sf home presents an exceptional living experience. Its timeless interior features modern finishes, lux textures & expansive spaces, harmonized by the 7,000sf of French oak wide plank wood floors. The kitchen is equipped with state-of-the-art appliances, a spacious island for your culinary endeavors, and a stylish enclosed glass-walled 200+ bottle wine cellar. The main house has a 4-car garage, four ensuite bedrooms, two dens, a game room and a media room that seamlessly embraces your Arizona outdoor living. The guesthouse offers a private retreat and the stand-alone building with a studio apartment includes an air conditioned 2-car garage and a 4-car garage, perfect for the collector. Located in Merit Crossing on 3.8 acres with views of Pinnacle Peak Mountain. Architectural renderings for a future toy barn for the detached garage and studio are available on-site. Those yearning for a seamless transition into luxury living will appreciate the thoughtfully curated list of furnishings available on a separate Bill of Sale, ensuring a memorable turnkey experience. Upgrades: Concrete Tile Roof (2020) Painted- Exterior & Interior (2020) Two tankless water heaters (2020) HVAC (total-9) o

6644 E Exeter Boulevard Scottsdale, AZ 85251

$5,945,000
6 Beds
6.5 Baths
12,128 SqFt
Status Active
MLS # 6767951
Property Type Single Family Residence
Price Type --
Experience an unparalleled opportunity in this magnificent Arcadia estate situated just half a mile from Old Town Scottsdale. Behind the gates on Exeter Blvd, a tree-lined drive welcomes you to over 12,000 sq ft of meticulously imagined living space. Indulge in the convenience of dual primary suites, easily accessible by elevator. A private office, large media room, and inviting family room cater to every need in this beautiful home, which is perfect for entertaining. Host unforgettable gatherings in the formal dining room or enjoy casual meals in the more intimate dining space. The chef's kitchen, complete with a butler's pantry, back kitchen, and serving bar, is a culinary haven. A separate guest suite ensures your visitors enjoy the utmost comfort and privacy.

7012 E Hummingbird Lane Paradise Valley, AZ 85253

$5,900,000
5 Beds
5.5 Baths
6,641 SqFt
Status Active
MLS # 6782671
Property Type Single Family Residence
Price Type --
Welcome to Paradise Valley where luxury living reaches new heights. This exceptional estate offers a remarkable blend of elegance, comfort & modern amenities. Boasting a main house with 5,937 square feet of meticulously designed living space, including 4 bedrooms. 4.5 baths and 2 offices, along with a 704 square feet guest house, this property truly embodies the epitome of refined living. Step inside the main house and be greeted by a grand entrance that sets the tone for the entire residence. The spacious floor plan encompasses large open spaces. The master suite is a true sanctuary, featuring a huge master closet and a luxurious bathroom. Indulge in heated floors, double vanities, steam shower, towel warmer and the ultimate in convenience with 2 water closets equipped with Toto toilets. No expense was spared in the remodel and improvements of this estate, with over $1,300,000 invested to enhance its beauty and functionality. The gourmet kitchen cannot be beat, with gorgeous granite countertops, huge island, double wall ovens, a warming drawer and pot filler. The newer roofs provides peace of mind, while the Venetian plaster walls and newer wood floors exude timeless sophistication. The newer HVAC systems ensure optimal comfort throughout the year, and the ground-mounted solar panels significantly reduce electric bills, making this home as energy-efficient as it is luxurious. Plus you can feel safe with fire sprinklers throughout the home. Entertaining is a breeze with the abundance of amenities this estate has to offer. The huge covered patio, with its own misting system, invites you to relax and enjoy the breathtaking views of the surrounding landscape. Take a dip in the sparkling pool or unwind in the jacuzzi after a long day. The barbecues area is perfect for hosting outdoor gatherings, while the putting green allows you to practice your golf skills at your leisure. For a moment of tranquility, retreat to the gazebo and revel in the serenity of your private oasis. Inside and out, every detail has been carefully considered. The property features synthetic grass throughout, providing a lush and low-maintenance landscape all year round. With speakers in every room and patio, you can enjoy your favorite music wherever you go, creating the perfect ambiance for any occasion. Car enthusiasts will appreciate the temperature controlled four-car garage, complete with an electric vehicle charging outlet, ensuring your vehicles are well taken care of. The newer exterior paint adds to the striking curb appeal, leaving a lasting impression on all who visit. Don't miss this rare opportunity to own an extraordinary estate in Paradise Valley. Immerse yourself in luxury, comfort, and unmatched beauty in this remarkable home that combines impeccable craftsmanship with modern amenities.

6723 E Lincoln Drive Paradise Valley, AZ 85253

$5,900,000
5 Beds
4.5 Baths
5,679 SqFt
Status Active
MLS # 6769813
Property Type Single Family Residence
Price Type --
Seller financing is available with flexible terms, and all offers are encouraged. Welcome to an extraordinary haven of elegance and luxury—a stunning brick mansion nestled in the prestigious heart of Paradise Valley. This residence offers impeccable sound construction and a serene atmosphere, making it a rare and exceptional find. The property features a resort-style backyard that provides a private retreat. Upon entering through the custom stained glass door, adorned with a laser-cut medallion, you'll be captivated by the breathtaking interior. The home boasts 24-inch travertine stone floors with intricate custom inlays and beautiful knotty pine ceilings, combining to create an ambiance of timeless sophistication. Conveniently located within walking distance of the new Ritz Carlton.

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