Buying A Home Is More Affordable Than Renting In 54% Of US Counties

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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18983 N 259th Lane Buckeye, AZ 85396

New

$459,000

2 Beds

2 Baths

1,569 SqFt

Status Active

MLS # 6694613

Property Type Single Family Residence

Price Type --

Better than New, immaculate Hideaway Model with Smart Home Features. 2-bed/2-bath, split floor plan w/ upgraded plank tile flooring and ''leather'' granite countertops. Designer light fixtures & custom window treatments. Open concept living offers plenty of room for dining & entertaining. Extended height, soft close cabinets, SS appliances & walk-in pantry. The spacious primary bedroom has a large bathroom, dual sinks, walk in shower & walk-in closet. Charming guest bedroom w/adjacent bath. Enjoy the beautiful landscape from the extended back patio with privacy wall and pavers. 2 car garage with tandem 4ft extension, great for a golf cart, or additional storage. Additional features: Soft water system, tankless water heater, security door, additional iron fencing with gate access on both sides of the house. Front & backyard pavers & drip system for landscaping. Sun City Festival is an active adult community with plenty of activities. Complete gym, pickleball court, group classes, 27-hole golf course, 2 resort-style pools, onsite rec center, walking trails, and an indoor walking track. Don't miss the opportunity, come see this home today.

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11005 W Hadley Street Avondale, AZ 85323

$458,995

4 Beds

3 Baths

2,070 SqFt

Status Active

MLS # 6680585

Property Type Single Family Residence

Price Type --

Explore this stunning Slate home on a corner lot, ready for quick move-in! Included features: a welcoming covered entry; a spacious great room with 12' center-meet doors leading onto a serene covered patio; a dining nook; an open kitchen boasting white 42'' upper cabinets, 3x6 backsplash, quartz countertops, a walk-in pantry, an island and stainless-steel appliances, gas range. a central laundry; an elegant primary suite showcasing an added window, a generous walk-in closet and a private bath with double sinks, a shower and a soaking tub with 12x12 tile surround; three secondary bedrooms, including one with an attached bath; a third full bath and a 2-car garage with a service door. This home also offers cultured marble bathroom countertops, 7''x22'' ceramic tile flooring, ceiling fan prewiring, front yard landscaping, and a concrete-paver driveway and walkway. Also included is a belt drive garage door opener, soft water pre-plumb, and a gas stub at the back patio, plus more.

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2755 E Tie Down Drive San Tan Valley, AZ 85140

$458,990

5 Beds

3 Baths

1,968 SqFt

Status Active

MLS # 6691396

Property Type Single Family Residence

Price Type --

Welcome to Wales Ranch! San Tan Valley's newest master planned community. A wealth of amenities to enjoy. Homeowners will enjoy easy access to great local attractions and amenities, including shopping and dining at Queen Creek Marketplace, outdoor recreation at San Tan Regional Park, fresh produce at Schnepf Farms and popular sites such as Queen Creek Olive Mill. A copy of the public report is available on the Arizona Department of Real Estate's website.

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5487 S 251st Drive Buckeye, AZ 85326

$458,990

4 Beds

3 Baths

2,301 SqFt

Status Active

MLS # 6648977

Property Type Single Family Residence

Price Type --

Welcome to The Residences at Copper Falls! April Move-In. Amazing split floor plan with mother-in-law suite, flex room, all four bedrooms are spacious, and adorned with designer upgrades. Flex room for office/formal dining/game room! Highlights include GE stainless steel appliances, granite countertops in the kitchen, a tiled kitchen backsplash, and 36'' white shaker cabinets with hardware. Additionally, the home boasts upgraded tile flooring, ceiling pre-wires in all bedrooms and the great room, a soft water loop, Smart Home, and more! Enjoy Copper Falls amenities, including a tot lot, Ramada, BBQ grills, bike rack, and a half basketball court.

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