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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9821 E Glencove Street Mesa, AZ 85207

$650,000
4 Beds
2 Baths
2,249 SqFt
Status Active
MLS # 6738100
Property Type Single Family Residence
Price Type --
Nestled in gated community, this home has 9+ceilings. Maple 42''cabinets, in 2023 painted inside throughout, added new stove, dishwasher, microwave & Italian stone tile (wide wood plank look). Pavers in back yard extends from covered patio & sidewalk to RV gate. Mesquite trees shade back yard. The owners added an electrical box/outlet to add hot tub in future. Split 4-bedroom floorplan with family & formal living area. Kitchen has granite countertops open into family room. The 2-bathrooms are upgraded & insulated doors in 3car garage. Community Park with playground, volley & basketball courts, walking trails & green belts add space between homes. Enjoy east Mesa close to: The salt river, Usery Park, Hiking, Kayaking, Fishing, 202 north, shops & restaurants. 7 miles from the 60.

3702 E Laurel Lane Phoenix, AZ 85028

$650,000
3 Beds
2 Baths
1,680 SqFt
Status Active
MLS # 6738884
Property Type Single Family Residence
Price Type --
Fabulous home in a fabulous location! This stylish mid-century modern home offers lots to enjoy inside, outside, and in the area. The backyard is perfect for the summer days and nights with a sparkling pool, new no-maintenance grass, BBQ, and picnic area. Inside you will enjoy tile flooring and new carpet, a new kitchen with quartz counter tops, new cabinetry, back splash and extra cabinet space by dining. Bathrooms have been remodeled with the mid-century style. Great storage and space in the laundry room. Minutes away from hiking, golf, shopping and dining and the new PV mall re-development. Kierland/Scottsdale Quarter and the Biltmore are just short drives away. Easy access to the 51 and 101 freeways to bring you all over the Valley easily.

9022 W Ross Avenue Peoria, AZ 85382

$650,000
5 Beds
2.5 Baths
2,764 SqFt
Status Active
MLS # 6748230
Property Type Single Family Residence
Price Type --
You will LOVE this well taken care of 5 bedroom, 2.5 bath, 3 car garage home. This amazing home has huge kitchen with granite counter tops, kitchen island and large walk-in pantry. The master suite has plenty of room to relax, with master bathroom featuring dual sinks, separate tub and shower. Upstairs features open loft area with large secondary rooms. The resort style backyard is amazing with pool, gazebo including built in BBQ on a huge lot with no neighbors behind. In last two years owners have updated AC units, pool eq, carpet, and so much more. Come check it out and fall in love. Winter grass just put in down. Home warranty included(750.00)buyers can choose company. Empty nesters ready for a new family to love this home. Best 5 bdrm for 235$ sqft in the area!!

1205 N Sunshine Lane Payson, AZ 85541

$650,000
3 Beds
3 Baths
2,548 SqFt
Status Active
MLS # 6750801
Property Type Single Family Residence
Price Type --
Alpine Heights Must See Updated Home situated on a 12000+ sq ft treed lot enhanced with a circular drive way. This 3 bedroom 3 bath home with an extra room perfect for an office offers all new kitchen and bath cabinetry with Quartz countertops. New Luxury Vinyl flooring through out, the blonde and tan color tones are gorgeous. Perfect flooring for many years to come. New baseboards, doors, hardware, lighting, fans and canned lighting, all features that accentuate the abundance of natural light the main level offers with a back drop of trees seen through the windows. Wrap around deck has two entrys into the home with one from the kitchen dining area, easy for outdoor entertaining. The lower level living with office, bath & bedroom connect to the garage with an entry to the back yard. New AC helps keep the upstairs cool in the summer months and a Fireplace for the cooler months. Enjoy the outdoors with the fenced yard for privacy. Don't miss your opportunity to see thsi home Today!

2616 S Extension Road Mesa, AZ 85210

$650,000
4 Beds
2 Baths
2,094 SqFt
Status Active
MLS # 6752935
Property Type Single Family Residence
Price Type --
Welcome to your beautifully updated oasis, with NO HOA! This stunning home boasts a plethora of recent upgrades, including a brand-new HVAC system installed in May 2022, a new water heater in March 2022, and a complete plumbing overhaul with top-of-the-line Kohler and Moen fixtures. Step into luxury with a remodeled master shower featuring Tanner materials and indulge in the modern convenience of new interior doors throughout. Enjoy the ambiance of new light fixtures, adding elegance to the coffee nook, kitchen island, and bathrooms. The backyard is a paradise with newly installed turf, drip irrigation, and vibrant plants offering privacy and tranquility. Retreat to the pool area, where a NEW heated saltwater pool awaits, complete with a corner table, waterfall, Baja step, and multicolor lights. With interior accent walls, matte black cabinet handles, and a suite of brand-new LG appliances, this home is as stylish as it is functional. Don't miss the chance to make this your dream home - Easy access to Mesa CC, shopping & 60 fwy! 15 minutes from PHX airport and a quick drive from Tempe/ASU!

12260 W Lone Tree Trail Peoria, AZ 85383

$650,000
4 Beds
2.5 Baths
2,908 SqFt
Status Active
MLS # 6758362
Property Type Single Family Residence
Price Type --
Welcome to this stunning 4-bedroom, 2.5-bath single-level home nestled in the highly desirable Vistancia community of North Peoria. This spacious 2,908 sq ft home sits on a coveted north/south exposure corner lot, offering a perfect blend of style, comfort, and convenience. Step inside to discover an expansive open floor plan, where a neutral color palette, oversized tile, and luxury plank flooring set the tone for modern living. The central gourmet kitchen is a dream, featuring stainless steel appliances, gleaming granite countertops, a water softener, and a large center island with a breakfast bar. The kitchen flows seamlessly into the casual dining area and great room, creating an ideal space for both daily living and entertaining. Just beyond, enjoy easy access to the backyard pool oasis, complete with a sparkling heated pool, spill-over spa, cozy firepit chatting space, and an extended covered patio, all perfect for relaxing or hosting friends and family. The owner's suite is a true retreat, offering a spacious ensuite bath with dual sinks, custom-tiled walk-in shower, a deep soaking tub, and a generous walk-in closet. Three additional bedrooms, 1.5 baths, and a versatile office with built-ins provide ample space for work, rest, and play. A formal dining room and convenient laundry room round out this fantastic floor plan. Located just a short walk from top-rated Vistancia Elementary, multiple parks, playgrounds, and the Mountain Vista Clubhouse, this home offers unbeatable access to community amenities, including tennis & pickleball courts, indoor basketball court, game room, two resort-style pools, water slides, and a splash pad. Plus, you're just minutes away from the Four Corners area, where you'll find popular restaurants, shopping, and easy access to Loop 303 for commuting. This home truly has it all - submit your offer today!

5307 E Cambridge Avenue Phoenix, AZ 85008

$650,000
3 Beds
2 Baths
1,300 SqFt
Status Active
MLS # 6758567
Property Type Single Family Residence
Price Type --
Welcome home! This 3-bed, 2-bath property features a spacious front lawn, a convenient garage, and an extended driveway. The living room offers a soothing palette, classic plantation shutters, and attractive wood-look flooring. Enjoy delicious meals in the eat-in kitchen, equipped with skylights, granite counters with a matching backsplash, ample custom wood cabinetry, recessed lighting, stainless steel appliances, a handy pantry, and an island with a breakfast bar. The cozy main bedroom showcases a walk-in closet and a private bathroom for added convenience. Discover a sizeable backyard complete with a covered patio, stylish pavers, fragrant citrus trees, an RV gate that leads to a detached garage holding endless opportunities such as workshop or for extra living! Don't miss out on this fantastic opportunity to make this home yours!

5862 N 86th Drive Glendale, AZ 85305

$650,000
4 Beds
3.5 Baths
2,726 SqFt
Status Active
MLS # 6765318
Property Type Single Family Residence
Price Type --
Stunning 4-Bed, 3.5-Bath Home Built in 2023 Welcome to your dream home! This exquisite property boasts modern elegance and thoughtful design, featuring high ceilings that create an airy and spacious atmosphere throughout. Step into the heart of the home, where the gourmet kitchen awaits. It showcases top-of-the-line appliances, an expansive island perfect for entertaining, and ample counter space for all your culinary adventures. The open layout seamlessly connects the kitchen to the living and dining areas, ideal for gatherings with family and friends. With four generously-sized bedrooms, including a luxurious master suite with a private bath, there's plenty of space for everyone. The additional bathrooms are beautifully appointed, ensuring comfort and convenience for all. Natural light floods the home through stylish window shutters, adding both charm and privacy. The backyard is a perfect retreat, offering a serene space to relax or entertain. Don't miss the opportunity to own this remarkable home that blends contemporary living with timeless appeal. tour today and experience all that this property has to offer!

21276 W Sycamore Drive Buckeye, AZ 85396

$650,000
4 Beds
2.5 Baths
3,039 SqFt
Status Active
MLS # 6765959
Property Type Single Family Residence
Price Type --
Prepare to be captivated by this gorgeous single-level home in Verrado Community! The façade offers a 3-car garage w/attached cabinets, paver driveway, & a gated courtyard. Impressive interior includes a large living room, formal dining room & a perfectly flowing great room adorned w/surround sound. Well-appointed kitchen is equipped w/recessed & pendant lighting, ample cabinetry w/crown molding, built-in appliances, a pantry, granite counters, a prep island w/a breakfast bar & a mosaic tile backsplash. Exterior paint updated in 2023. Make the open den a game area/study. Owner's retreat provides an ensuite w/two vanities, Kitchen cabinets with slide outs. Spacious backyard w/a covered patio, pergola and artificial turf. HVAC less than a year. Paid solar System. This is a Gem!

19118 E Apricot Lane Queen Creek, AZ 85142

$650,000
3 Beds
2 Baths
1,950 SqFt
Status Active
MLS # 6769026
Property Type Single Family Residence
Price Type --
Welcome to Legado, a premiere community at the heart of Queen Creek. Situated on a private, low maintenance backyard with no neighbors behind. The 3 bedrooms plus den make this pristine, single level home the PERFECT comfort haven. Graciously appointed with wood plank tile flooring, plantation shutters, smudge proof appliances, granite counters, backsplash & gas cooktop. Whole house water filtration, WiFi thermostat. 3 car garage with custom garage storage. A covered patio overlooks a grass backyard with paver seating area & fire pit. Legado features playgrounds, a lighted basketball court, lighted corn hole, splash pad, & more. Convenient to Mansel Carter Oasis Park, QC Marketplace & QC District featuring shopping, entertainment & a choice of 30+ restaurants. Welcome Home!

2700 N Horseshoe Street Unit 69 Flagstaff, AZ 86004

$650,000
2 Beds
2 Baths
1,557 SqFt
Status Active
MLS # 6772735
Property Type Townhouse
Price Type --
Discover the perfect AIR CONDITIONED home in the exclusive Saddleback Lodge at Continental Country Club! This fully furnished, SINGLE-LEVEL townhome invites you to unwind on a private deck with breathtaking golf course views surrounded by the serenity of mature trees and lush landscaping. Includes a 1-car garage, fireplace, stainless appliances appliances, and proximal to the clubhouse, restaurant, pools and resort amenities such as pickleball & fitness center. Whether for a weekend getaway or a long-term escape, this beautifully remodeled home offers unmatched comfort & convenience - an investment you will return to again and again! 2nd Bedroom currently being utilized as a den/office.

5222 W Buckskin Trail Phoenix, AZ 85083

$650,000
4 Beds
2 Baths
2,294 SqFt
Status Active
MLS # 6772837
Property Type Single Family Residence
Price Type --
Stunning 4BR/2BA home in STETSON VALLEY! You will be impressed the moment you walk through the front door. Spacious formal living /dining room, kitchen includes granite countertops, SS appliances , Maple cabinets, and large island. Kitchen is open to large family room which is perfect for entertaining. Neutral colors, plank tile flooring throughout home, including the 4 spacious bedrooms. Extended 2 -car garage w/cabineets. Covered patio, firepit with cozy seating, mountain views & mature landscaping. Excellent schools and close to everything.

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