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.

What’s Your Home Worth?

Search for Your New Home

21320 N 56th Street Unit 2163 Phoenix, AZ 85054

$659,000
2 Beds
2 Baths
1,843 SqFt
Status Active
MLS # 6764820
Property Type Townhouse
Price Type --
Fantastic location next to Desert Ridge, golf course, community pool, spa, green belts and loop 101 & 51 freeways. This townhome is one level with plantation shutters, crown molding and designer colors throughout. The kitchen has beautiful cherry raised panel cabinetry, dark columbo granite countertops, stainless steel appliances and an open great room. The bathrooms have Kona beige silestone countertops, tiled showers and tub surrounds. The oversized 2 car garage has shelving, water softener and a super quiet I-drive garage opener. The large back patio looks out across a greenbelt to the community pool & spa area.

2624 N 68th Place Scottsdale, AZ 85257

$659,000
3 Beds
2 Baths
1,397 SqFt
Status Active
MLS # 6777287
Property Type Single Family Residence
Price Type --
Beautiful 3 bedroom, 2 Bathroom, single story, blocks from Old Town Scottsdale home. This home features recently upgraded plumbing and electric. Pool was just completely renovated with pebble-tec and is heated with brand new smart heater. A/C unit is less than a year old and under warranty as well. Huge driveway, basketball hoop, lush green jungle like back yard. Safe neighborhood. Perfect for primary or investment property.

19832 N 95th Avenue Peoria, AZ 85382

$659,000
2 Beds
2 Baths
2,147 SqFt
Status Active
MLS # 6783077
Property Type Single Family Residence
Price Type --
Keeping with the latest trends in mind this completely remodeled home sits on a large corner lot on the Westbrook Village Golf Course. This stunning remodel features a spacious open floor plan with extensive use of tile, marble & stone. All new cabinets, fixtures, countertops, kitchen island, newer AC & more. Bedrooms are oversized, and there is also a multi-purpose room for your office or craft room. Community features include golf, pickleball, arts, social events & numerous clubs of your choice. Resort style living at a fraction of the cost.

2260 W Megan Street Chandler, AZ 85224

$659,000
3 Beds
2 Baths
2,043 SqFt
Status Active Under Contract
MLS # 6787426
Property Type Single Family Residence
Price Type --
Highly upgraded Chandler home. Large living room and formal dining room. Travertine tile and wood floors. No carpet. New Roof 2023 with warranty. AC 2018. Kitchen with tall cabinets, lovely granite counters and granite slab backsplash. Double oven stove. Pantry. Shutters throughout home. Beautiful family room and kitchen at the back of the home is open to the large backyard with fruit trees and large covered patio. Huge primary bedroom with Gorgeous new granite slab shower and tub surround. Primary has large walk-in closet and exit to backyard. Patio with bench at fire pit. Lovely garden with many fruit trees. 3 car garage with 2 garage openers with smart remote. HWHeater 2020, Newer appliances. Original owners no pets. Great location!

13307 W Crown Ridge Drive Sun City West, AZ 85375

$659,000
2 Beds
2.5 Baths
2,580 SqFt
Status Active
MLS # 6776517
Property Type Single Family Residence
Price Type --
Welcome to your dream home in Sun City West! Perfectly situated on a golf course along the 18th tee, this property offers stunning mountain views and a wealth of desirable features. Enter into a meticulously maintained home, where recent upgrades include a new roof and owned solar system installed in 2020, fresh carpet in 2021, and new windows added in 2023 with updated window shades. The welcoming family room, complete with a cozy gas fireplace, also includes a wet bar, ideal for entertaining. With a second gas fireplace in the den and a fresh coat of paint throughout, this home has both comfort and style. Out front, you'll find easy-maintenance artificial grass added in 2023. Don't miss your opportunity—this home is priced to sell and ready to be enjoyed! Move-In-Ready!

1205 E Tradewind Drive Gilbert, AZ 85234

$659,000
4 Beds
2 Baths
1,975 SqFt
Status Active
MLS # 6765192
Property Type Single Family Residence
Price Type --
Dreaming of lakeside living? For the right offer, enjoy $5,000 in seller's concessions! This stunning 4-bedroom, 2-bathroom home has it all. With a 3-car garage and a beautiful PebbleTec pool, relaxation awaits. The interior boasts fresh paint, new master bedroom carpet, modern light fixtures, and ceiling fans. The kitchen features updated hardware, a gas stove, and all new faucets throughout the house. Enjoy mesmerizing lake views from your boat dock and open floor plan, perfect for entertaining. The master suite offers a separate tub and shower, with vaulted ceilings in all bedrooms adding elegance. Located within walking distance to Gilbert High School and minutes from Downtown Gilbert, restaurants, shopping, and entertainment. Don't miss out on this gem!

11268 E Poinsettia Drive Scottsdale, AZ 85259

$659,000
3 Beds
2 Baths
1,566 SqFt
Status Active
MLS # 6737850
Property Type Single Family Residence
Price Type --
AMAZING OPPORTUNITY! to own a fully remodeled home in a fantastic Scottsdale location! spacious living/dining room w/built-in shelves, vaulted ceilings, fireplace in the living area, & sliding doors to the back patio.Chef's kitchen offers white cabinets w/crown molding, stainless steel appliances, large granite counters, a pantry, upgraded, designer light fixtures, & large center island.Split primary suite has a walk-in closet & an upscale bathroom w/dual vanities & Large soaking tub. All tile floors throughout! Delightful backyard has a relaxing covered patio & Pergola. Newer roof! This one won't last!

20925 E Via Del Oro -- Queen Creek, AZ 85142

$659,000
4 Beds
3 Baths
2,402 SqFt
Status Active
MLS # 6744959
Property Type Single Family Residence
Price Type --
** PRICE REDUCED $10K ** Let's make this home yours! Everyone is loving the beautiful upgrades, entertainer's backyard, floor plan with separate downstairs guest quarters, and the killer location with walkability to golf, shops, restaurants, and parks. Relax in your spacious primary suite with soaking tub & dual walk-in closets, lay by the pool while your friends enjoy the putting green, or take a stroll through the fruit trees on your almost 1/4 acre lot. There's plenty of room to store your toys in the 3-car garage complete with overhead storage, water softener, and side entry door. And don't forget you also get access to the community center with community pool, golf course, gym, pickleball courts, etc! What more do you need? Let's go!

931 E Whiteley Street Apache Junction, AZ 85119

$659,000
2 Beds
2 Baths
1,455 SqFt
Status Active Under Contract
MLS # 6742679
Property Type Single Family Residence
Price Type --
21/2 ACRES OF NATURAL DESERT LAND WITH BEAUTIFUL HOUSE AND BRAND NEW 1800 SQ FT WORK SHOP WITH 5 TON A/C WITH ROOM FOR YOUR RV AND BOAT OR ANTIQUE CARS. OR ALL THE TOYS. HOUSE GOT A NEW A/C IN 2024 ALSO. CHERRY WOOD CABINETS, 6 PANEL SOLID WOOD DOORS ALL 36'' TO ACCOMODATE A WHEEL CHAIR IF NEEDED.. GRANITE COUNTER TOPS AND STAINLESS STEEL APPLIANCES MAKE FOR BEAUTIFUL KITCHEN. SPLIT FLOOR PLAN. VERY ENERGY EFFICIANT HOME WITH BLOCKS WITH FOAM INSULATION, DUAL PANE WINDOWS. VERY NEAT AND CLEAN MOVE IN READY HOME.

4002 N San Gabriel Circle Mesa, AZ 85215

$659,000
4 Beds
3 Baths
2,564 SqFt
Status Active
MLS # 6761137
Property Type Single Family Residence
Price Type --
Motivated Seller, relocating out of state! This stunning home, located on the prestigious Pete Dye-designed golf course at Red Mountain Ranch, offers breathtaking views of the golf course, Red Mountain, and sparkling city lights. Inside, you'll find renovations completed over the past five years. The gourmet kitchen has gorgeous granite countertops, stainless steel appliances, and stylish new cabinetry, perfect for any chef. The inviting living area features a beautifully upgraded fireplace with elegant brickwork and a mantel, creating a cozy atmosphere for family gatherings. The primary bath has been transformed into a luxurious, spa-like oasis with a walk-in shower, marble countertops, and sleek new cabinetry. Additional improvements include newer dual-pane low-E windows and doors, pro viding year-round energy efficiency and comfort. Step outside to the sun-drenched pool area, complete with newer installed cool decking, ideal for lounging and entertaining. The exterior of the home has been painted within the last 5 yrs as well as the roof underlayment was replaced for long-lasting protection. Additional updates include a newer water heater, reverse osmosis system, pool pump, cleaner, and an efficient sprinkler system for easy yard care. This home offers more than just a place to live it's a lifestyle, perfect for golf enthusiasts in a tranquil setting. Don't miss the opportunity to make this dream home your own!

9415 W Wild Turkey Lane -- Strawberry, AZ 85544

$659,000
3 Beds
3 Baths
1,916 SqFt
Status Active
MLS # 6741864
Property Type Single Family Residence
Price Type --
Escape the heat & hustle of urban life at your mountain retreat tucked in the side of the Mogollon Rim among towering Pines on a lush 0.85-acre lot. This nearly 2,000 sq ft split-level home features a floor plan that makes sense for all. Main level has kitchen & dining room, comfortable living room, primary suite w/ensuite bath, fun loft area, & large guest bedroom. Lower level has another bedroom, bathroom, large family room set up as a game room, and access to the back yard & garage entrance. Take in stunning views of Strawberry Mountain from the expansive wrap-around deck & large picture windows throughout. The 2.5 car garage is equipped w/built-in workshop space. The fenced backyard allows a smaller border within the large property. No HOA. Enjoy easy access to... ... Fossil Creek trailhead & Hardscrabble road system for unlimited recreational activity, the charm of Strawberry & Pine, and approx. 45 minutes from Blue Ridge Reservoir for water enjoyment. All furnishings are available outside of escrow.

3076 Summer Loop Forest Lakes, AZ 85931

$659,000
3 Beds
2.5 Baths
1,946 SqFt
Status Active
MLS # 6771049
Property Type Single Family Residence
Price Type --
Beautifully quaint and absolutely perfect cabin on a hilltop lot in Forest Lakes! Walk in to a spacious family room with soaring windows filling the room with soft natural light and wood burning stove/fireplace. The open floor plan opens to a cozy kitchen with eat in dining and separate oversized pantry/mudroom. Master suite is on the main level with a walk-in closet and on-suite bathroom. Upstairs features a landing overlooking the family room and 2 oversized bedrooms. Covered front and back patios make family gatherings or just enjoying the pines the perfect place to be. Easy drive up blacktop driveway w/ chip-seal coat. Several parking options and detached garage with laundry room. 1 acre lot features pine trees, aspen, apple and plum trees! Property sold fully furnished with all decor

Leave a Reply

Your email address will not be published.