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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20033 W Turney Avenue Litchfield Park, AZ 85340

$550,000
3 Beds
2 Baths
2,270 SqFt
Status Active
MLS # 6751119
Property Type Single Family Residence
Price Type --
Beautiful newer home with great upgrades. 3 bedrooms with a den, 2 bathrooms, 2 car garage and North/South facing. Paver drive and sidewalk lead into soaring 11 foot ceilings and luxurious wood plank tile to a gourmet kitchen with upgraded tall white cabinets, gas stove, stainless steel appliances and quartz counter tops. Open living and dining concept, ceiling fans, curtains, and blinds make it feel like home. Luxurious Master bath with full glass walk in shower, huge closet and mirrors and two sinks. Edison light fixtures give a soft touch. 2 Enormous glass sliding doors extend living space into the outdoors, a short walk to 2 huge grassy parks complete with shaded tables. Verrado is one of the biggest master planned communities around with great amenities. Come see it today!

Yuma Prooving Guard AZ 85365

$550,000
1 Bed
1 Bath
1 SqFt
Status Active
MLS # 6752994
Property Type Apartment
Price Type --
commissions

6090 N Stratford Court Rimrock, AZ 86335

$550,000
3 Beds
2.5 Baths
2,090 SqFt
Status Active
MLS # 6767709
Property Type Single Family Residence
Price Type --
Welcome to Beaver Creek Preserves! A gated community nestled in Northern Arizona, 30 minutes south of Sedona. Complete with community walking trails, clubhouse, community pool, and work-out facility. Brand new, never lived in home built in 2023, with 3 bedrooms plus a den, 2.5 bathrooms, 2 car garage and an RV garage. Enjoy the serenity of Beaver Creek Preserves. Inside, expansive windows frame panoramic views, while the open-concept layout boasts premium finishes and modern amenities. Outside, a spacious patio invites outdoor living and stunning vistas. The modern rustic charm of the finishes and mountain views, one you do not want to miss!

22274 E Cherrywood -- Queen Creek, AZ 85142

$550,000 - 4Br/3Ba -  for Sale in La Sentiero, Queen Creek
Open House
New
$550,000
4 Beds
2.5 Baths
2,083 SqFt
Status Active
MLS # 6786964
Property Type Single Family Residence
Price Type --
Best Lot in La Sentiero! This stunning home sits on an oversized cul-de-sac lot with an RV gate that opens directly to the park! Located in Queen Creek, it's just minutes away from shopping, dining, and entertainment. Step inside this beautifully designed 4-bedroom, 2.5-bath residence, complete with a spacious 3-car garage. The open-concept layout is filled with natural light, highlighting the home's modern finishes. The upgraded kitchen is a chef's dream, featuring extended cabinetry, sleek white quartz countertops, and stainless steel appliances. Key features include: stylish wood-look tile flooring in high-traffic areas, a grand front entry with a dramatic hallway leading to a spacious great room, a generously sized laundry room with room for an extra refrigerator or freezer

3630 W Folley Street Chandler, AZ 85226

$550,000
3 Beds
2.5 Baths
1,580 SqFt
Status Active
MLS # 6778680
Property Type Single Family Residence
Price Type --
Beautiful 3 bedroom home on a large lot with a sparkling private pool. Kitchen has been updated with white cabinets, subway tile style backsplash, butcher block countertops, open shelving, stainless steel appliances. Updated wood flooring, updated bathrooms with a tile surround walk in shower in primary bath. Large master with walk in closet. Separate office was added with AC but is not included in sf, great for remote work. Backyard has am extra large aluminum patio cover, pool kool decking has been refinished, new pebbletech finish on the pool. Large grass backyard for activities. Large RV gate with area for toys and NO HOA. Large park on side and back of home so only 1 neighbor which makes this lot very private. Great home and neighborhood, for the price. Each bathroom has been thoughtfully updated, providing a fresh and modern feel. Enjoy year round comfort with a brand new AZ system & the added benefit of a new porch cover, prefect for outdoor relaxation. The backyard oasis is a true highlight, featuring a sparkling private pool with a new pebble tech finish, refinished Kool decking and an extra large aluminum patio cover-ideal for entertaining or unwinding under the sun. The expansive grass backyard offers plenty of space for activities, while a large RV gate provides convenient access for toys or additional storage. With no HOA, you can enjoy your home and lifestyle without restrictions. Separate garage office with AC (not included in sq footage) offers a perfect set up for remote work, allowing you to maintain a work life balance effortlessly. Located close to 101 & 202 highways, within walking distance of Dutch Bros Coffee, Chandler Mall and a variety of delicious restaurants, you'll have everything you need at your fingertips. The neighborhood is family friendly, filled with kids and young families, creating a welcoming community atmosphere. This exceptional home, with its prime location next to a large park & only one neighbor, is a rare find. Don't miss your chance to create lasting memories in this beautiful space. Come fall in love with your new home.

954 E 7th Street Mesa, AZ 85203

$550,000
3 Beds
2 Baths
1,542 SqFt
Status Active Under Contract
MLS # 6777888
Property Type Single Family Residence
Price Type --
Welcome to this stunning, fully remodeled home in the heart of Mesa where warranties abound! This 3-bedroom, 2-bath home is a perfect blend of style and functionality, ready for you to move in. Step inside to discover a bright and inviting open floor plan, featuring all-new appliances, sleek quartz countertops, and modern cabinets enhanced by a beautiful marble backsplash. The spacious primary bedroom includes an expanded walk-in closet with custom shoe rack shelving, offering ample storage space. Both bathrooms are luxuriously designed with heated porcelain tile floors. The master bathroom offers a curb-less zero entry shower. Throughout the home, you'll find durable Stone Composite Luxury Vinyl Plank flooring that combines elegance with easy maintenance. New windows and fresh paint... add to the modern appeal. Warranties include showers, floors, windows, with a service plan for the AC unit. Enjoy the new pressure-treated lumber fencing with RV gates on both sides of the house, making parking and storage are a breeze. The flood irrigated yard means lush greenery without the cost and hassle! Conveniently located near the 202 freeway, this home combines modern living with easy access to all that Mesa has to offer. Plus, with no HOA, you have the freedom to make it your own. Don't miss your chance to own this remarkable property!

4413 W Box Canyon Drive Eloy, AZ 85131

$550,000
2 Beds
2 Baths
1,705 SqFt
Status Active
MLS # 6700890
Property Type Single Family Residence
Price Type --
Partially FURNISHED & STUNNING! This 2 bedroom + DEN, 2 bath home is on highly desired VIEW lot. Garage is 30 ft. deep. The backyard will wow you w/GORGEOUS water feature, firepit, pergola, landscaping lights, Travertine patio, artificial grass & large potted Palm trees. You will love this home from the gated paver courtyard to the amazing backyard & everything in-between! Kitchen has Quartz counters, 2-tone Cabinets w/knobs, roll-out shelves, tile backsplash, SS appliances, Gas range, convection oven, pendant & under cabinet lights. So many upgrades from the wood look tile flooring, Plantation shutters, tiled showers, comfort height toilets, Valet area w/upper & lower cabinets. HUGE Garage has 8ft. door, Storage Space/exercise area, Cabinets, Shelving & Epoxy Floors.

4572 W Main Street Joseph City, AZ 86032

$550,000
4 Beds
2 Baths
2,791 SqFt
Status Active
MLS # 6722308
Property Type Single Family Residence
Price Type --
Discover a rare opportunity to own a beautiful home coupled with a thriving RV park business. This unique property offers a blend of comfortable living and lucrative investment potential, ideal for those seeking a dynamic lifestyle and income stream. Main home to be sold with RV park parcel. MLS # 6722349

1103 W Pebble Beach Drive Tempe, AZ 85282

$550,000
4 Beds
2 Baths
1,731 SqFt
Status Active
MLS # 6737458
Property Type Single Family Residence
Price Type --
Location, Location very good center location close to Arizona state university only 2-3 miles , easy access to major freeways and sky Harber airport. 4- bedroom high ceiling new flooring in all bedrooms. Freshly painted, perfect rental or family home large cozy back yard remodeled with brand new artificial Graas, low maintenance. short drive to mill Ave, Tempe town lake and Papago hiking and golfing. Night life restaurants shops Ets.

41333 N Belfair Way Anthem, AZ 85086

$550,000
3 Beds
2 Baths
1,616 SqFt
Status Active
MLS # 6746580
Property Type Single Family Residence
Price Type --
If you are looking for a remodeled home for under the average list price in Anthem Country Club, stop right here, you have found it! With three bedrooms and two bathrooms, this home is perfect for a small family or a couple who needs room for visitors. The remodeled kitchen and bathroom, and the updated flooring ensure that the home is move-in ready. You will love the storage space in the kitchen, which includes a large pantry. The updated stainless-steel appliances, quartz countertops and natural light from both large and small windows give the kitchen and family room a fresh, bright, and cheery feel and look. This home is a private oasis within the spectacular community of Anthem Country Club which offers anything you could ask for in a Country Club setting. Two Club Houses with restaurants, two fitness centers, tennis, pickleball, bocce ball, two private heated pools and so much more. Come see for yourself, we are certain you will love it!

5020 E Morning Star Drive Phoenix, AZ 85044

$550,000
3 Beds
2 Baths
1,878 SqFt
Status Active
MLS # 6760957
Property Type Single Family Residence
Price Type --
ENJOY LIVING IN AHWATUKEE'S ACTIVE ADULT COMMUNITY IN THIS COMPLETELY RENOVATED HOME. INVITING OPEN FLOOR PLAN WITH ABUNDANT UPDATES. EAT-IN KITCHEN FEATURES QUARTZ COUNTERTOPS, TILED BACKSPLASH, UPGRADED CABINETRY, GRANITE SINK, PANTRY & STAINLESS-STEEL APPLIANCES. GAS FIREPLACE IN FAMILY ROOM. MASTER SUITE BATHROOM INCLUDES GRANITE COUNTERTOP & WALK-IN SHOWER WITH GRAB BARS. WALK-IN CLOSETS IN SECONDARY BEDROOMS PLUS HALL BATH CONNECTS TO BEDROOM TWO. LAMINATE WOOD FLOORING THROUGHOUT WITH TILE IN THE BATHS. ADDITIONAL ELEMENTS OF REMODEL INCLUDE RECESSED LIGHTING, RAISED-PANEL 3-HINGE DOORS, CUSTOM BASEBOARDS/MOLDING, DUAL-PANE WINDOWS TANKLESS WATER HEATER, SOFT WATER SYSTEM WITH ENTIRE HOME WATER FILTRATION, FRONT & BACK ARTIFICIAL GRASS & COVERED PATIO WITH MISTING SYSTEM.

3600 W Cobalt Court San Tan Valley, AZ 85144

$550,000
4 Beds
2.5 Baths
2,614 SqFt
Status Active
MLS # 6752633
Property Type Single Family Residence
Price Type --
Welcome to this exquisite 4-bedroom, 2.5-bath residence in The Preserve at San Tan! Discover an inviting great room with high ceilings, recessed lighting, a soothing palette, blinds, and stylish wood-look flooring. The delightful kitchen boasts quartz counters, ample white shaker cabinets, chic pendant lighting, a subway tile backsplash, stainless steel appliances, a walk-in pantry, and an island with a breakfast bar. You'll also find a versatile den, ideal for an office or study. Upstairs, the cozy loft offers additional living space. The serene main bedroom includes plush carpeting, an ensuite with dual sinks, and a walk-in closet. Venture outside to the backyard, featuring a covered patio for al fresco dining and ample space to create your dream oasis. The community also offers a dog park, pickleball court, community grills, outdoor theater/amphitheater, fire pits, walking/biking trails and SO MUCH MORE! Come see it today!

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