Buying Is Now 33.1% Cheaper Than Renting in the US

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers actually show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up to 50.1% less expensive in Baton Rouge (LA), and 33.1% nationwide!

Other interesting findings in the report include:

• Interest rates have remained low and, even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.
• With rents & home values moving in tandem, shifts in the ‘rent vs. buy’ decision are largely driven by changes in mortgage interest rates.
• Nationally, rates would have to reach 9.1%, a 128% increase over today’s average of 4.0%, for renting to be cheaper than buying. Rates haven’t been that high since January of 1995, according to Freddie Mac.

Bottom Line

Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy this year, let’s get together to find your dream home.  Give me a call – J.P. Cook – 602-320-4253.

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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

8917 N 65th Drive Glendale, AZ 85302

$459,000

4 Beds

2 Baths

1,760 SqFt

Status Active

MLS # 6685460

Property Type Single Family Residence

Price Type --

This is the best house in the neighborhood! It has been completely remodeled by a licensed contractor. The house features a new roof and HVAC system, as well as fresh paint both outside and inside. Additionally, there are new tile floors throughout the entire house. As you enter, you'll be greeted by a spacious living room filled with natural light. The kitchen has undergone a complete transformation with new cabinets, quartz countertops, and stainless steel appliances. Both bathrooms have also been completely redone, including new vanities, cabinets, countertops, fixtures, and tiled showers. Outside, you can enjoy the patio and the low-maintenance yard. Don't miss out on the opportunity to own this beautiful home.

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16 W Encanto Boulevard Phoenix, AZ 85003

$459,000

2 Beds

2.5 Baths

1,709 SqFt

Status Active

MLS # 6685494

Property Type Apartment

Price Type --

Don't miss out on over 1,700 sqft of Midtown Luxury! This private end unit is the largest City Home floor plan and is priced to sell. There are only 4 units at Tapestry with this desirable floor plan. You will enjoy all the windows making it light and bright. Features include upgraded stainless appliances, granite counter tops, gas range and a gas fireplace. The first floor also has beautiful laminate flooring and a large patio. There are two large bedrooms upstairs with lots of closet space. The primary suite has a walk in closet and a nice private balcony that is north facing for year around use. Located just minutes from shopping via a short drive or the light rail. You can even take the light rail to Phoenix Sky Harbor Airport. This home has two assigned parking spaces in the secured underground parking too. On site amenities include a fitness center, club house, large heated pool and spa, a Walgreen's pharmacy is on site as are a nail salon and a new art studio too.

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30520 W Clarendon Avenue Buckeye, AZ 85396

$459,000

5 Beds

3 Baths

2,658 SqFt

Status Active

MLS # 6687483

Property Type Single Family Residence

Price Type --

Welcome to your canvas! This beautiful move-in ready, spacious home, is ready for your personal touch. As you pull up to the home you will be grateful for the 3 car garage and RV gate perfect for storing your cars, toys and holiday decor, as well as having your own ''she shed''. As you walk inside you will not be disappointed with the open living space and gourmet kitchen that will meet your needs and more! This desirable floor plan is great for a multi generational home or someone looking for all the space, with 5 bedrooms and 3 full bathrooms. And the backyard is ready for you to turn it into your outside oasis! OH! And did I mention it has OWNED solar?! Don't miss it!

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7650 E Edgewood Avenue Mesa, AZ 85208

$459,000

2 Beds

2 Baths

1,584 SqFt

Status Active

MLS # 6688997

Property Type Single Family Residence

Price Type --

Fantastic Ranch Home in Fountain of the Sun, a 55+ Community. Move-in Ready, 2 bed, 2 bath home with a private, gated, backyard pool. Updates include refaced kitchen cabinets, quartz countertops and all new LG kitchen appliances 2023. Large owner's bedroom suite, French door entry, updated bath, new vanity & walk-in closet. Guest bedroom has a new Murphy-style wall bed unit that converts to a desk ($7k) and a walk-in closet. High-quality window shutters throughout the entire home. Beautiful, private backyard with heated salt-water pool, new pump & salt cell in 2019. Newer roof & outside paint. Enjoy all the Fountain of the Sun amenities including pickle ball, bocce ball, a dog park and much more. The 18-hole executive golf course & country club make this a very special place to live.

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