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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12835 W Black Hill Road Peoria, AZ 85383

$699,900
2 Beds
2 Baths
2,153 SqFt
Status Active
MLS # 6817064
Property Type Single Family Residence
Price Type --
Stately set on a private elevated quarter ¼ acre corner lot, this popular Civitas model has a commanding presence. From the front with its lush desert landscaping to its inviting front courtyard, it is easy to fall in love with this plan that was designed for gracious entertaining as well as spacious everyday living. This jewel begins with a chef's kitchen complete with Granite Slab Counters, raised panel staggered cherry cabinets, upscale stainless steel appliances and a sunlit breakfast nook. The kitchen overlooks the open and roomy dining room and adjacent Great room, both accented with attractive crown molding, and both of which share the view of the private all pavered rear patio. Tucked into one wing is the secluded primary suite with engineered wood floors and a private bath suite highlighted with beautiful tile finishes. The secluded Guest room also features wood floors and has its own private entry into the adjacent bath. One of the unique features of this plan is the multi-use den which features a living space as well as an office space to one side and a floor to ceiling bookcase on the other. The private elevated Backyard is enclosed by a 4' Stucco wall surrounding the extended paver patio, raised planter, and a built in BBQ island. It's the perfect place to chill out and enjoy those Arizona Sunsets. The garage has room for a Golf Cart, a wall of cabinets and overhead storage racks. All of this and more in this amenity rich active adult community of Trilogy at Vistancia. It's where you belong!

3663 S Soho Lane Chandler, AZ 85286

$699,900
5 Beds
3.5 Baths
3,376 SqFt
Status Active
MLS # 6821852
Property Type Single Family Residence
Price Type --
Spacious & exceptional Maintained 5-Bedroom Home in a Prime Location! Welcome to this beautifully maintained 5-bedroom, 3.5-bathroom home, offering the perfect blend of comfort, convenience, and space. Located in a highly desirable area, this home provides easy access to shopping, dining, schools, and major highways. Step inside to find a bright and inviting floor plan featuring a large loft, perfect for a playroom, or additional living space. The downstairs bedroom with a full bath is ideal for guests, in-laws, or a private retreat. The open-concept kitchen and living areas are perfect for entertaining, with plenty of natural light and modern finishes. The primary suite boasts an ensuite bath and ample closet space. Enjoy outdoor living in the spacious backyard backyard, perfect for relaxing or hosting gatherings. This well-maintained home is move-in ready don't miss this incredible opportunity!

20725 S 191st Way Queen Creek, AZ 85142

$699,900
4 Beds
3 Baths
2,310 SqFt
Status Active Under Contract
MLS # 6799986
Property Type Single Family Residence
Price Type --
Beautiful home, high end finishes including Double Waterfall Island, Herringbone Tile, and Incredible backyard for sale in Legado. Relax by the outdoor fireplace under string lights for unforgettable evenings. Extra wide hallways, office, and three car garage! Natural gas to the property is a major plus.

25717 S 207th Street Queen Creek, AZ 85142

$699,900
4 Beds
2 Baths
1,746 SqFt
Status Active Under Contract
MLS # 6777671
Property Type Single Family Residence
Price Type --
Rural Vibe/City Amenities! NO HOA! HORSE PRIVILEGES! This one acre property is surrounded by mature trees, creating a relaxing atmosphere. The rural vibe continues with a 4-horse stall structure and 2 large sheds for either tack storage or lawn tools. The fenced pasture can be used as a horse arena, pet yard or kids' wonderland. There is even covered parking for your RV. This home offers so many updated features like fresh interior and exterior paint, new roof, new hot water heater, and new patio ceiling fans. This home is so well maintained with cleaned and sanitized AC vents and a full maintenance tune-up to the AC unit in September 2024. Professionally designed storage with CLASSY CLOSETS at the pantry, hall and primary bedroom closets! The pool received new equipment and was resurfaced in 2020. Both the primary shower and hall shower were updated in 2017 and the water softener was replaced in 2019. NO HOA! So many options abound with grocery stores, retail shopping, restaurants and a movie theatre less than 10 MINUTES away! Seller is willing to pay off solar balance at COE with the right offer. The hot tub does NOT convey. Samsung refrigerator model RF31CG7400SRAA does NOT convey. GE Profile refrigerator can convey at the buyer's request.

29022 N 166th Avenue Surprise, AZ 85387

$699,900
3 Beds
2 Baths
1,950 SqFt
Status Active
MLS # 6818599
Property Type Single Family Residence
Price Type --
Stunning Modern Earth custom spec home with 20x50 RV garage w custom garage doors. Home is highly upgraded with spray foam insulation in all exterior walls including rv garage. Buyer can still choose interiors from builders upgraded samples. The attention to detail and design has been tastefully accomplished. Master has walk in shower with large soaker tub. Custom lighting through out and delta bathroom faucets. The gourmet kitchen has drop down cook-top, micro/oven combo. Completion time is approx 70 days. Natural indigenous cactus and plans including several saguaros all around. Front courtyard and custom front door. Nothing compares. All nestled on an acre of land with deep back yard facing south with beautiful mountain views. Located in up and coming area.

16944 W Coronado Road Goodyear, AZ 85395

$699,900
2 Beds
2.5 Baths
2,012 SqFt
Status Active
MLS # 6782934
Property Type Single Family Residence
Price Type --
This impeccably maintained residence boasts sophisticated upgrades throughout. Notable features include 18 x 18 tile floors, high baseboards, and dimensional ceilings. The kitchen presents an open-concept design with quartz countertops, GE Profile appliances, a walk-in pantry, pendant lighting, and a breakfast bar island. The great room seamlessly transitions to an extended covered patio with travertine pavers, a gas fireplace, and TV hookups. The landscaping is designed for low maintenance and includes several fruit and nut trees. Additional amenities encompass a whole-house RO system, a Bosch HVAC system, an oversized three-car garage, and extensive attic storage. This community is tailored to active adults, offering facilities such as golf, tennis, pickleball, restaurants, etc.

11115 E Tarragon Avenue Mesa, AZ 85212

$699,900
4 Beds
3.5 Baths
3,391 SqFt
Status Active
MLS # 6779736
Property Type Single Family Residence
Price Type --
This move-in ready, original-owner home in Bella Via offers 4 bedrooms and 3.5 baths across 3391 SqFt. The floor plan features a spacious great room with a built-in media wall, formal dining, an office with double doors, a bonus/flex room, and a casita with its own entrance from the courtyard. The gourmet kitchen boasts staggered maple cabinets, stainless appliances, granite countertops, tile backsplash, a large pantry, and an island with a breakfast bar and pendant lights. Sliding glass doors in the casual dining area and great room open to a covered patio with an electric shade and travertine pavers around a pool that has a heat pump. The primary bedroom offers backyard access, a tray ceiling with recessed lights, and an en-suite bath with dual vanities, a soaking tub, a separate shower and a walk-in closet. The casita features a living area, bedroom, and full bath. Additional highlights include a large laundry room with cabinets and sink, engineered wood flooring, plantation shutters and ceiling fans throughout, a water softener, a landscape irrigation system, a pavered courtyard, and a 2-car garage. The community provides trails, playgrounds, a dog park, and an amphitheater. Seller is willing to contribute to buyers' closing costs and/or buying down interest rate!

14129 E Barbie Lane Scottsdale, AZ 85262

$699,900
3 Beds
2 Baths
2,435 SqFt
Status Active
MLS # 6782963
Property Type Single Family Residence
Price Type --
North Scottsdale living! No water issues..Epcor membership confirmed!! Horses, toys, privacy,and SPACE! Nestled on an oversized 1 acre lot and featuring a natural desert landscape, 2 car garage, and paver walkway! Inside you will find spacious dining & living areas w/concrete floors, high ceilings, an entertainment niche, a warm fireplace, and neutral palette throughout. Amazing gourmet kitchen, wood cabinetry w/crown molding, a pantry, quartz counters, built-in appliances, pendant lighting, a breakfast nook, and a peninsula complete w/a breakfast bar. The primary bedroom showcases private outdoor access, a walk-in closet, and a lavish ensuite w/dual sinks & a garden tub. French doors open up to a cozy den perfect for an office! Backyard is amazing for entertaining and families. Lastly, the expansive backyard includes a covered patio, a sparkling blue pool, and a pen for horses! Don't wait any longer, act now!

313 W Saddle Mountain Road Phoenix, AZ 85086

$699,900
4 Beds
3 Baths
2,545 SqFt
Status Active
MLS # 6807124
Property Type Single Family Residence
Price Type --
Welcome home to this charming property nestled on an over 1-acre lot! Inside, the open floor plan will welcome you with its stunning ceilings, tile flooring, & recessed lighting throughout. The comfortable great room showcases a wood accent wall, large windows, & dual French doors by the dining area leading to the backyard. The pristine kitchen features built-in appliances, cabinets w/crown moldings, granite counters, & an island w/breakfast bar. Have a good night's rest in the serene main bedroom boasting wood-look flooring, backyard access, & a full private bathroom w/dual sinks.There is a second primary bedroom with a full bath and dual closets. Bring your toys and get ready to experience the luxury of the Desert Hills Community. Come enjoy the mountain views from your own cozy patio!

2501 E Milky Way Gilbert, AZ 85295

$699,900
4 Beds
2.5 Baths
2,129 SqFt
Status Active
MLS # 6816836
Property Type Single Family Residence
Price Type --
Entertaining Backyard Paradise w/ Built In Cantina Bar overlooking sparkling pebbletec pool & spa w/fiber optic party lights, artificial turf, long covered patio, private garden & built in seating area on 10,459 SF Lot! Gorgeous front courtyard with pavered walkway, 14 ft RV Gate, HUGE Driveway & built in fire pit greets your guests. RARE 4 Bd w/ 2 Full & 1 1/2 Bath, Split Floorplan w/ Master Suite & 4th HUGE Bedroom on one side w/ 2nd & 3rd Bedrooms on other side w/ upgraded dbl sinks in 2nd Bathroom w/ decorative sliding glass privacy doors. Kitchen has breakfast bar and bonus eat in kitchen for cozy dining. Open Concept Family, Dining & Kitchen ideal for entertaining. ALL Tile Flooring. Energy Saving Solar Panels keep your utility bills LOW.... Community Pool & HUGE Grassy Parks with Play Gyms and walking paths throughout entire community. So close to EVERYTHING- this home is conveniently located is less than a 1/2 mi from Loop 202, 1 mi from San Tan Village Mall, Costco, Sams Club, Walmart, Kohls, Trader Joe's, Sprouts, Natural Grocer and tons of Dining Hot Spots such as The Keg, Kona Grill, Pita Jungle, Bourbon & Bones, Brio, Shake Shack, In & Out, Chick Fil-A & so much more.....

40040 N Lytham Way Anthem, AZ 85086

$699,900
4 Beds
3.5 Baths
3,304 SqFt
Status Active
MLS # 6760680
Property Type Single Family Residence
Price Type --
2 BRAND NEW AC UNITS JUST INSTALLED!!Sonoma floor-plan with four bedrooms, office/bonus room. Spacious kitchen, kitchen dining, kitchen island. An abundance of cabinets and counter space. Large open living room and dining room. Master bedroom with dual vanities plus plenty of closet space. Guest bedroom with full bath and another two bedrooms with Jack n' Jill. Tile in all the right places. Inviting backyard with large covered patio & electronic roll shades. Back patio is great for relaxing mornings & evenings. 3 car garage for plenty of storage or golf cart.

8717 E Thornwood Drive Scottsdale, AZ 85251

$699,900
3 Beds
2 Baths
1,525 SqFt
Status Active
MLS # 6754440
Property Type Single Family Residence
Price Type --
This beautiful 3 bdrm, 2 bath home is located in a desirable Scottsdale area close to Fashion Square, Old Town, and the 101. Situated on a spacious 8800+ sq ft corner lot, it offers something for everyone. The home boasts gorgeous curb appeal with artificial turf and a paver walkway leading to a charming front patio with shade structure. Inside, you'll find recent upgrades including granite countertops in the kitchen and bathrooms, as well as luxury vinyl plank (LVP) flooring throughout the main living areas and bedrooms—no carpet! The spacious backyard features artificial turf, a putting green, a built-in grill, a storage room, and an RV gate. Additionally, there's a 1-car garage with an extra driveway that's paved for additional parking. Come tour this one today.

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