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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20221 N 31st Street Phoenix, AZ 85050

$574,000
5 Beds
3 Baths
2,177 SqFt
Status Active
MLS # 6749488
Property Type Single Family Residence
Price Type --
Immaculate 5-Bedroom, 3-Bath Move-In Ready Home with Fresh Updates, and Backyard Paradise. Discover the perfect blend of modern luxury and convenience. This newly painted 5-bedroom, 3-bathroom home is move-in ready and packed with features that make it an exceptional find. With two brand-new AC units installed in May 2024, you'll enjoy year-round comfort in this energy-efficient, beautifully upgraded property. Step inside to find a bright, open layout with plenty of space to entertain. The living room is prewired for a large TV, ready for your home theater setup—perfect for movie nights or watching the big game in style. The home also features a remodeled master bathroom and new flooring upstairs, adding a touch of luxury at every turn. The wardrobe in the upstairs guest room conveys with the property, offering added convenience. Outside, the backyard oasis awaits, featuring a charming pergola and fruit trees that create the perfect setting for outdoor gatherings or peaceful evenings at home. Location couldn't be betterCostco is less than a mile away, and you're just minutes from Desert Ridge Marketplace for shopping, dining, and entertainment. Plus, with easy access to Loop 101 and SR-51, commuting anywhere in Phoenix is a breeze. This stunning home checks all the boxes: space, style, comfort, and a prime location. Don't miss this incredible opportunityschedule your showing today before it's gone!

8762 E Posada Avenue Mesa, AZ 85212

$574,000
4 Beds
2 Baths
2,516 SqFt
Status Active
MLS # 6732222
Property Type Single Family Residence
Price Type --
Highly sought-after MOVE-IN READY single level home with 4 spacious bedrooms and 2 full bathrooms! The open kitchen features a large island, granite counters, tile backsplash, and stainlesss steel appliances- perfect for hosting gatherings with family and friends. The walk-in pantry provides ample storage space for all your kitchen essentials. Outside you will find a private pool with a waterfall feature and pergola, perfect for outdoor entertaining and relaxation. The primary bedroom is spacious with a bathroom that offers dual sinks, separate shower/bathtub, and a large walk-in closet. A new AC was installed this year, so you don't have to worry about the heat. Quick access to 202 & 60 freeways! Don't miss out on the chance to make this house your home! Gilbert Schools/Mesa taxes

29502 N 126th Lane Peoria, AZ 85383

$574,000
4 Beds
2 Baths
2,287 SqFt
Status Active
MLS # 6767268
Property Type Single Family Residence
Price Type --
WELCOME TO YOUR NEW HOME! As you step through the beautiful, lush front yard, you'll immediately feel at home. Inside, enter through a wide foyer and spacious living room which flows seamlessly into the family room, just off the updated kitchen. The kitchen boasts granite counter-tops, a large island with a breakfast bar, and opens into a roomy breakfast nook. This home features a split floor plan with a generous primary bedroom, a large en-suite bath, a walk-in closet, and a stylish tiled shower. On the opposite side, you'll find three additional bedrooms and a full bath. Outside, enjoy a large grassy play area and a recently installed pool, perfect for relaxation or entertaining. Three car tandem garage and spacious inside laundry room add to the efficiency of this home. See it today

2351 N Tierra Alta Circle Mesa, AZ 85207

$574,000 - 4Br/2Ba -  for Sale in Boulder Mountain Highlands Unit 3a, Mesa
Open House
$574,000
4 Beds
2 Baths
1,811 SqFt
Status Active
MLS # 6775532
Property Type Single Family Residence
Price Type --
Incredible Opportunity in East Mesa! Discover the only single-level, 4-bedroom home under $600,000 east of the 202 Loop with a private pool in a gated community. This rare find is nestled on a premium corner lot in the secure Boulder Mountain Community, offering a perfect blend of comfort and style. The home showcases a beautifully updated chef's kitchen with a gas range, Taj Mahal quartzite countertops, a custom backsplash, and many thoughtful upgrades. The functional split floor plan ensures privacy, with one secondary bedroom featuring a walk-in closet.The stunning primary bathroom boasts a large shower with a glass wall and a separate soaking tub, perfect for unwinding. Elegant diagonally laid tile throughout the main living areas adds sophistication, while the oversized 2.5-car garage provides ample storage space and includes an 18,000 BTU HVAC mini split for heating and cooling. The expansive corner lot is ideal for entertaining, with a gorgeous pool as the centerpiece. Lots of entertainment areas, and lovely garden beds. Plus, enjoy peace of mind with a new AC unit that keeps the home comfortable year-round. Boulder Mountain's prime location near Loop 202 and its proximity to Usery Mountain Regional Park offers endless opportunities for hiking, biking, and outdoor recreation. Also, walking distance to A+ rated schools! Don't miss out on this exceptional find!

25817 N Bolero Bend Rio Verde, AZ 85263

$574,000 - 2Br/2Ba -  for Sale in Rio Verde, Rio Verde
Open House
$574,000
2 Beds
2 Baths
2,205 SqFt
Status Active
MLS # 6762128
Property Type Single Family Residence
Price Type --
Calling all investors and buyers looking for a bargain in the vibrant adult community of Rio Verde! Priced to sell and below market so you can reap the benefits of this fabulous property with tons of potential and equity! Spacious corner lot, this property offers a spacious backyard complete with a wonderful patio area & your own pool. Both bedrooms offer their own baths, while an additional flex space is perfect for an office, roomy sitting area, or home gym. The formal living and dining areas seamlessly flow into the generous kitchen, which boasts ample cabinet space and an inviting eat-in area. With a 2.5-car garage, there's plenty of room for your golf cart and extra storage. As a social member of the Rio Verde Country Club, you'll enjoy a wealth of activities; tennis, pickleball, bocce ball, and a community gym and pool. This is an excellent opportunity to create your own unique sanctuary while living the Rio Verde lifestyle!

9413 E Osage Avenue Mesa, AZ 85212

$574,000 - 4Br/2Ba -  for Sale in Mesquite Canyon 1, Mesa
Open House
$574,000
4 Beds
2 Baths
2,308 SqFt
Status Active
MLS # 6764630
Property Type Single Family Residence
Price Type --
Back on market after getting a super cute remodel! Fantastic single story home located in highly desirable Mesquite Canyon featuring 4 bedrooms, 2 baths, 2 car garage, Through the front door you are welcomed by BRAND NEW vinyl plank flooring throughout, FRESHLY painted white interior which is a blank canvas to decorate to your hearts content, NEW baseboards, additional puck lighting added to give the home that light, bright and airy feeling, living room/dining room combo, kitchen boasts granite countertops and backsplash, stainless steel appliances, white cabs, dining area, kitchen island, flat top electric stove with above b-i microwave, huge walk-in pantry, family room with shiplap accent wall, large primary bedroom with double door entry, walk-in closet and exterior access to backyard , ensuite with dual sinks, separate shower & tub, chevron accent wall with updated mirrors and light fixtures, enjoy outdoor entertaining with sparking play pool, covered patio and canopy with pavered sitting area, vaulted ceilings, faux wood blinds, security screen door, near highly rated Gilbert schools, neighborhood parks, restaurants and shopping. An Absolute Must See!

3812 W Antelope Way San Tan Valley, AZ 85144

$573,995
3 Beds
2.5 Baths
2,129 SqFt
Status Active
MLS # 6784584
Property Type Single Family Residence
Price Type --
This beautiful home was crafted for the way you live. The gourmet kitchen makes a statement with its premium finishes, upgraded cabinets, and stainless steel appliances. The open-concept great room is the perfect atmosphere for entertaining, with connectivity to the dining area and expansive views of the outdoor living space. The expansive flex room is conveniently placed off the foyer, providing plenty of space for entertaining. The resort-style amenities in this community will make your family feel they're on vacation year-round. Experience the luxury you've always wanted today.

1380 W Golden Ore Pass Apache Junction, AZ 85120

$573,990
4 Beds
3 Baths
2,524 SqFt
Status Active
MLS # 6781906
Property Type Single Family Residence
Price Type --
Welcome to Blossom Rock! The east valley's newest master planned community. With views of the Superstition Mountains and a wealth of amenities currently in the making including three community parks, dozens of neighborhood parks, a community school, miles of trails, beautiful lakes, and indoor and outdoor gathering spaces all meant to serve as the backdrop of the calendar of signature events and annual celebrations currently being created. A public report is available on the Arizona Department of Real Estate website.

8300 E Vía De Ventura Boulevard Unit 1015 Scottsdale, AZ 85258

$573,900 - 2Br/2Ba -  for Sale in Lakeside Villas Of Scottsdale, Scottsdale
Open House
$573,900
2 Beds
2 Baths
1,442 SqFt
Status Active
MLS # 6750386
Property Type Townhouse
Price Type --
Come see this move in ready condo in gated Lakeside Villas at McCormick Ranch! This home wood plank tile flooring plantation shutters and upgraded lighting fixtures and fans throughout. The living room has a reclaimed wood detail fireplace and high ceilings with lots of natural light. The kitchen features soft close cabinets and drawers, Quartz countertops and new stainless steel appliances. New Quartz countertops in the bathrooms as well. The primary bedroom has an ensuite bathroom and spacious walk in closet. Inside laundry and a singel car detached garage. Community amenities include pool/spa, walking/biking path and lake views. Close to lots of shopping, fine dining, golf and easy freeway access. Must see

2529 W Florentine Road Phoenix, AZ 85086

$573,900
4 Beds
3.5 Baths
2,483 SqFt
Status Active
MLS # 6764475
Property Type Single Family Residence
Price Type --
PRICED TO SELL! Fantastic opportunity to own this beautiful Tramonto home in sought after Desert Hills! This open concept home features a kitchen with custom cabinets, granite counters, breakfast bar, SS appliances that overlooks the great room and dining area. Two spacious master bedrooms. One with large jacuzzi tub and separate shower and the other boasts a private master retreat that's sure to please guests and family. 20x20 diagonally laid tile and newer carpet. Spacious den/office, 1/2 bath and laundry room downstairs. Tramonto community amenities include basketball courts, 2 community pools, jacuzzi, walking/bike trails and is close to excellent schools, restaurants, shopping, TSMC campus and the I-17.

1502 Oregon Avenue Prescott, AZ 86305

$573,818
2 Beds
3 Baths
2,125 SqFt
Status Active
MLS # 6731974
Property Type Single Family Residence
Price Type --
Nestled in the serene Oregon neighborhood on the coveted West side of Prescott, Arizona, this 2125 sqft two-story home epitomizes eco-friendly living. Situated gracefully alongside a tranquil creek, protected by towering granite boulders, this residence is a sanctuary for those who cherish comfort and sustainability. Step inside to discover an incredible conservatory, complete with heating and cooling, offering a year-round connection to nature's beauty. Imagine soaking in a jetted tub or simply relaxing in this serene space, which includes a connected half bathroom. During winter, imagine placing your bed here and gazing up through the glass ceiling as snow gently falls around you—an experience reminiscent of sleeping in an igloo under the stars. The home boasts a Trombe Wall, ... ... ... harnessing passive solar energy for efficient heating and cooling. Supplementing this green ethos are solar hot water panels with electric backup, an old unregistered well, and multiple large water storage tanks, ensuring self-sufficiency even in the driest months. Warmth and ambiance abound with furnace-rated fireplaces complementing a cozy wood-burning hearth, perfect for chilly Prescott evenings. Outside, the property is ensconced in natural beauty, seamlessly blending into majestic Granite Boulders topped by a durable metal roof and freshly painted exterior. Additional features include a detached two-car carport, multiple sheds for storage, and an attached carport. For the discerning buyer seeking a harmonious blend of luxury and environmental stewardship, this Green Home in Prescott's Oregon neighborhood is a rare gem waiting to be discovered.

5053 S Laguna Avenue Sierra Vista, AZ 85650

$573,500
5 Beds
2.5 Baths
3,673 SqFt
Status Active
MLS # 6763911
Property Type Single Family Residence
Price Type --
Solar was added to eliminate high electric bills- solar lease to be assumed by new owner. Escape to your private oasis and grand estate. This property boosts more than you can even imagine. Entry is enclosed with bright light inviting windows then you enter your home through brand new custom doors to an abundance of space starting with a formal dining room and living room with a 2-sided fireplace - you will notice new wood laminate floors. Kitchen fit for a chef - Kitchen Aid appliances, wall oven, huge island with cook top, granite counter tops and newly refinished cabinets. Just off the kitchen is eat in dining area, guest bathroom and bedroom AND your private sauna room. Heading to the upper level is 2 additional guest bedrooms and your primary suite. Heading to the upper level is 2 additional guest bedrooms and your primary suite. Outside - welcome to your resort enjoy a private pool and hot tub within the primary yard but wait there is more with over 1 acre of land bring your toys, horses or pets with ample space and additional storage building that could be used for whatever you need. You don't want to miss the opportunity to own this 1 of a kind home. You will also find a very large bonus space, with wall-to-wall windows to take in all the beautiful views of the area. Use for your games, living, hobby etc. room the possibilities are endless.

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