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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21033 W Skinner Road Wittmann, AZ 85361

$599,500
3 Beds
2 Baths
2,001 SqFt
Status Active
MLS # 6726891
Property Type Single Family Residence
Price Type --
Welcome to your dream home in Wittmann, AZ! This 2023 Grote new build is a testament to quality construction and thoughtful upgrades throughout. Step inside and be captivated by the elegance that surrounds you, from the beautiful granite countertops to the upgraded bathrooms and stunning tile work. The spacious and well-designed floor plan welcomes you, offering both comfort and style. Imagine entertaining guests in the heart of your home, the upgraded kitchen, where culinary creations come to life amidst the luxurious granite surfaces. Bathrooms have been meticulously designed, offering a blend of functionality and sophistication, perfect for your daily retreats. But the beauty of this home isn't confined to its interior. Outside, on your 1.3 acre, spacious lot, you'll witness beautiful views and room for growth. Paved road access ensures convenience and less wear on your vehicles. Zoned for horses and plenty of room for corrals and trailer parking. Property will be fully fenced with two large gates making it easy to pull trailers in and out. Don't miss the opportunity to make this exquisite new build in Wittman, AZ, your forever home.

156 E Leverenz Avenue San Tan Valley, AZ 85140

$599,500
2 Beds
2 Baths
1,770 SqFt
Status Active
MLS # 6734411
Property Type Single Family Residence
Price Type --
This two-bedroom, two-bath home, plus DEN, offers everything you could want in a gated community. The community provides incredible amenities, including TWO resort clubs, pools, restaurants, golfing, and a variety of activities, athletics, and classes. The kitchen boasts ample space with granite countertops, perfect for cooking and entertaining. Adjacent to the kitchen, the utility room includes a washer and dryer, with additional space that can be used as a workroom or for extra storage. The garage also features built-in cabinets for even more storage options. The large, covered patio provides plenty of space to relax or barbecue while enjoying beautiful Arizona sunsets. Experience comfort and convenience in this wonderful home and the vibrant community. *One year warranty included.

15418 W Big Sky Drive Surprise, AZ 85374

$599,500
2 Beds
2.5 Baths
2,318 SqFt
Status Active
MLS # 6760536
Property Type Single Family Residence
Price Type --
Welcome to the Adult Community of The Grand! Discover the Mission model home, displaying a desert front yard and a 2-car garage. The immaculate interior features a spacious living/dining room, pre-wired surround sound, plantation shutters, tile flooring, a media niche, and a cozy fireplace. The kitchen is fully equipped with a gas cooktop, a wall oven, recessed lighting, solid surface counters, rich wood cabinetry, an island with a breakfast bar, and a dining area with a bay window. Don't miss the sizable den with built-in cabinets & Murphy bed. and a desk! Primary retreat has plush carpeting, a pristine ensuite, a walk-in closet, and outdoor access. Enjoy delightful BBQs in the peaceful backyard, showcasing a covered patio, seating area, and built-in BBQ. This gem will impress!! Indoor gas fireplace Ceiling fans in all rooms Dimmable lighting switches, Tile throughout main house, berber carpet in bedrooms and office Cesarstone counters and cabinets with pull-out shelving throughout Gourmet kitchen with updated stainless-steel appliances Upgraded sink with a no-touch faucet Kitchen island with shelving Breakfast bar Extended dining area with bay windows Soft water system R/o system Washer and dryer with gas or electric option Lots of storage/pullouts in laundry rm along with cesarstone countertop Utility sink in the laundry room Two car garage with coated flooring Storage cabinets and work bench in garage Updated water heater Hot water recirculation system Updated trane air conditioning units (2019) Office/bedroom custom office desk with a murphy bed Extended master bedroom with bay windows Upgraded closet shelving in master Extended second bedroom with bay windows Custom closet shelving in second bedroom Plantation shutters throughout Custom front walkway with flagstone and lighting Back patio has two ceiling fans Built in custom natural gas bbq, patio lighting, and bench seating area with lighting accents, finished with flagstone Exterior of home painted in 2020 Front and back drip system with a timer Transferrable termite treatment (expires in 2027) Community golf courses, fitness center, and many other amenities

1945 E Behrend Drive Phoenix, AZ 85024

$599,500
3 Beds
2 Baths
1,960 SqFt
Status Active Under Contract
MLS # 6760080
Property Type Single Family Residence
Price Type --
Charming Fmly hm with Bonus Flex Rm! Ft security screen door! Open floorplan! Beautiful Tile floors, vaulted ceilings & arched doorway. Bright Kitchen has refinished cabinets, breakfast bar & secondary pantry storage-great for kitchen appliances! Mstr Bdrm has vaulted ceilings and plant decorator shelf. Private exit with security screen door leads to cozy patio & Inviting Salt Water Pebbletech Pool. Formal Dining Area has new Sliding Glass Doors leading to E facing 30-ft covd patio with Pull Down Sun Screens & Grill Pad. Great for Entertaining! Incredible ''Flex Room'' has vaulted ceiling, closet and private exit. Could easily convert to Income generating Guest Quarters, Mother In Law Suite or Game Rm. SOLAR! Side yd has Plum, Pomegranate & Kumquat trees! 5-Ton A/C installed in 2021. WO

8104 E Petra Avenue Mesa, AZ 85212

$599,490
4 Beds
3 Baths
2,264 SqFt
Status Active
MLS # 6781580
Property Type Single Family Residence
Price Type --
A collection of brand-new single-family homes located in the master-planned community in Mesa, AZ. The community feeds into the highly rated Gilbert Public School District, making this an ideal place for growing households. There are many onsite amenities at the masterplan everyone will enjoy, including a swimming pool, basketball court, pickleball court, playground and picnic area. Commuters have easy access to Loop 202 and Phoenix-Mesa Gateway Airport for travel accommodations. This beautiful home features our platinum package including Sonoma Maple Linen Cabinets and quartz countertops. Super luxury 8 x 36 tile flooring. A public report is available on the Arizona Department of Real Estate website.

20305 W Turney Avenue Buckeye, AZ 85396

$599,343 - 2Br/2Ba -  for Sale in Victory At Verrado Villas, Buckeye
New
$599,343
2 Beds
2 Baths
1,705 SqFt
Status Active
MLS # 6788262
Property Type Single Family Residence
Price Type --
This beautifully designed Copeland plan features our signature Loft-inspired 'Looks' collection, offering a cohesive and sophisticated interior design. The great room boasts a 12' multi-slider leading to a spacious covered patio, perfect for indoor/outdoor living. The kitchen shines with a large island, pendant lighting, quartz countertops, subway tile backsplash, and GE Profile stainless steel appliances, including a wall oven. Retreat to the exquisite primary suite with double walk-in closets and a resort-style bath featuring a no-step shower with a rain shower head and double vanity. Wood-look tile flooring, ceiling fans, blinds, and Solar are all included. Don't miss your chance to make this gem yours! ***Up to $20K can be applied towards closing cost OR short / long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply

286 E Citrus Hollow Way Queen Creek, AZ 85140

$599,132
2 Beds
2.5 Baths
1,678 SqFt
Status Active
MLS # 6644003
Property Type Townhouse
Price Type --
Welcome to a brand new Valletta model. It has an expansive layout and this home is illuminated by an abundance of natural light. The kitchen stands fully equipped with modern stainless steel appliances and elegant granite countertops. With a culinary connoisseur's dream at its heart, including a gas cooktop, it's an ideal setting for hosting and delighting your guests. Both bathrooms have undergone exquisite upgrades, featuring tile surrounds and elevated fixtures. A few upgrades include quartz countertops at kitchen and bathrooms, huge sliding door at patio, gourmet kitchen appliances and a large smart space. Start living the good life at Encanterra today!

7450 E Continental Mountain Estates Drive Unit 1 Cave Creek, AZ 85331

$599,000
4 Beds
4.5 Baths
6,252 SqFt
Status Active
MLS # 6723737
Property Type Single Family Residence
Price Type --
New co-ownership opportunity: Own 1/8 of this turnkey home, professionally managed by Pacaso. Soak up desert views in this gated mountaintop retreat with a wrap-around balcony & walls of glass. Sleek, contemporary architecture creates seamless indoor-outdoor living, starting in the spacious great room. The gourmet kitchen has stainless steel appliances & a quartz waterfall island. The dining table & executive bar make entertaining easy, as does the cooled whiskey and wine room. The primary suite features a fireplace, wine fridge & doors to the patio. The en suite bathroom has a soaking tub, tiled shower, dual sinks & a makeup vanity. An office & game room opens to the infinity pool & patio. The home, which includes an elevator, comes fully furnished & professionally decorated.

7450 E Continental Mountain Estates Drive Unit 2 Cave Creek, AZ 85331

$599,000
4 Beds
4.5 Baths
6,252 SqFt
Status Active
MLS # 6723860
Property Type Single Family Residence
Price Type --
New co-ownership opportunity: Own 1/8 of this turnkey home, professionally managed by Pacaso. Soak up desert views in this gated mountaintop retreat with a wrap-around balcony & walls of glass. Sleek, contemporary architecture creates seamless indoor-outdoor living, starting in the spacious great room. The gourmet kitchen has stainless steel appliances & a quartz waterfall island. The dining table & executive bar make entertaining easy, as does the cooled whiskey and wine room. The primary suite features a fireplace, wine fridge & doors to the patio. The en suite bathroom has a soaking tub, tiled shower, dual sinks & a makeup vanity. An office & game room opens to the infinity pool & patio. The home, which includes an elevator, comes fully furnished & professionally decorated.

7450 E Continental Mountain Estates Drive Unit 3 Cave Creek, AZ 85331

$599,000
4 Beds
4.5 Baths
6,252 SqFt
Status Active
MLS # 6723861
Property Type Single Family Residence
Price Type --
New co-ownership opportunity: Own 1/8 of this turnkey home, professionally managed by Pacaso. Soak up desert views in this gated mountaintop retreat with a wrap-around balcony & walls of glass. Sleek, contemporary architecture creates seamless indoor-outdoor living, starting in the spacious great room. The gourmet kitchen has stainless steel appliances & a quartz waterfall island. The dining table & executive bar make entertaining easy, as does the cooled whiskey and wine room. The primary suite features a fireplace, wine fridge & doors to the patio. The en suite bathroom has a soaking tub, tiled shower, dual sinks & a makeup vanity. An office & game room opens to the infinity pool & patio. The home, which includes an elevator, comes fully furnished & professionally decorated.

7450 E Continental Mountain Estates Drive Unit 4 Cave Creek, AZ 85331

$599,000
4 Beds
4.5 Baths
6,252 SqFt
Status Active
MLS # 6723862
Property Type Single Family Residence
Price Type --
New co-ownership opportunity: Own 1/8 of this turnkey home, professionally managed by Pacaso. Soak up desert views in this gated mountaintop retreat with a wrap-around balcony & walls of glass. Sleek, contemporary architecture creates seamless indoor-outdoor living, starting in the spacious great room. The gourmet kitchen has stainless steel appliances & a quartz waterfall island. The dining table & executive bar make entertaining easy, as does the cooled whiskey and wine room. The primary suite features a fireplace, wine fridge & doors to the patio. The en suite bathroom has a soaking tub, tiled shower, dual sinks & a makeup vanity. An office & game room opens to the infinity pool & patio. The home, which includes an elevator, comes fully furnished & professionally decorated.

5618 W Hardtack Trail Laveen, AZ 85339

$599,000
5 Beds
3 Baths
2,971 SqFt
Status Active
MLS # 6775155
Property Type Single Family Residence
Price Type --
You'll FALL IN LOVE The Moment You Step Into This Grand Entrance With 2 STORY HIGH CEILINGS*NEUTRALPalette*Lots Of TILE Flooring*CLOVER Plan Has Room For Everyone*8 FT. Interior DOORS*GREAT Room W/Sliders+Open To ISLAND KITCHEN Featuring GRANITE Counters,42'' BIRCH Cabinets, GAS Stove,WALK-IN Pantry, SS Refrigerator STAYS*Formal DINING For Fun Gatherings*1BR/BA Down*Staircase Opens To LOFT*PRIMARY Suite Has PRIVATE BATH W/Separate Tub+Shower, WALK-IN Closet*Secondary Bedrooms Have MOUNTAIN VIEWS+Walk-In Closets*FLEX Room In Lieu Of 3rd Car*Extended PATIO*Backyard Is Ready For Your DESIGN+CREATIVITY*4 FT Garage EXTENSION*Xtra Insulation*Greenbelt 3 Doors Away*PLAYGROUND Around The Corner*SCHOOL Right Down The Street*Easy FREEWAY Access*LIKE NEW Condition*THE PERFECT PLACE TO CALL HOME!!

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