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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3620 E Sumner Place Rimrock, AZ 86335

$475,000

3 Beds

2 Baths

1,716 SqFt

Status Active

MLS # 6672634

Property Type Single Family Residence

Price Type --

This stunning brand new 3 bedroom/2 bath home is in the pristine gated community of Beaver Creek Preserve in Rimrock AZ. Beautifully done Open floor plan with granite/quartz countertops, kitchen island, wood cabinetry and lots of storage and tile flooring. Private back Patio. Huge RV Storage! No RV? Then sky's the limit of what you can do with that space! Storage for your motorcycles, ATV's, Golf Carts! Turn it into a sports Room w/pool table, Ping-Pong, Man Cave, or add a platform for more storage, build a loft, Car lift.. really anything! Great private space between neighbor's min 20ft easements. Clubhouse offers pool tennis, Lounge area, BBQ for all you Friends and Family! Great location just off the freeway, Peaceful and Quiet! 20 min to Cottonwood, 25 min to Sedona, 1 hr to Flagstaff Lots of hiking trails, fishing and just beautiful scenery! ** Price reflects a 30K incentive reduction by using the builders preferred lender! **Come check it out! Make us an offer today and we can make it work!

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2323 E Harvard Street Phoenix, AZ 85006

$475,000

3 Beds

2 Baths

1,453 SqFt

Status Active

MLS # 6672801

Property Type Single Family Residence

Price Type --

Property eligible for a $10,000 grant as primary residence with FHA or Conventional loan. Plus a one point rate buy-down! Seller also willing to offer buyer concessions. Welcome to this cozy, completely remodeled, historical, yet modern home, in the Green Gables neighborhood! Huge open space designed for today's lifestyle. New roof, windows, AC, all updated in 2018. This home's location make it a true gem in the market. Centrally located in a well-established but constant developing neighborhood of the urban Avalon Subdivision - None HOA community that has a ton of character. Just a quick drive to Downtown Phoenix, Arcadia, Biltmore, Scottsdale, and Tempe. Easy access to the I-10, 202, and 51 freeways, makes this the ideal and perfect location for authentic inner city-life.

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21639 N Backus Drive Maricopa, AZ 85138

$475,000

3 Beds

2 Baths

1,919 SqFt

Status Active

MLS # 6673021

Property Type Single Family Residence

Price Type --

Gorgeous GOLF COURSE home with HEATED POOL and views of the 12th and 13th holes. Fabulous interior featuring custom floor tile with diamond inlay, and no carpet in the whole house. Upgraded kitchen cabinets, granite counters, kitchen island with breakfast bar, and high-end stainless appliances. Fantastic floorplan with high vaulted ceilings and large windows providing lots of natural light. 4 separate doors lead to the patio and the incredible backyard. The immaculate interior is matched by the meticulously maintained landscape in the front and back yards. There is a large area of pavers on the side of the house for additional parking. You'll enjoy entertaining with the built-in BBQ, soothing waterfall, and there is a deluxe misting system on the patio powered by a compressor.

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18712 W Georgia Avenue Litchfield Park, AZ 85340

$475,000

3 Beds

2.5 Baths

2,140 SqFt

Status Active

MLS # 6678570

Property Type Single Family Residence

Price Type --

Welcome to the beautiful community of Zanjero Trails, featuring real grass, parks and trees, top schools zoning, with easy access to the I-10 or 303. Close to Grocery, gas, dining, coffee shops and more. As you step inside, the spacious entryway with tray ceilings and Luxury Vinyl Plank Flooring are sure to impress. Enjoy the open concept living with grand living room, dining off kitchen where you'll love the massive 10' Island, custom tile backsplash, and quartz counters. A custom accent wall adds charm, while the nearby office with French doors offers a quiet workspace. The owner's suite boasts dual square sinks, a garden tub, and a large shower. Every bedroom includes a walk-in closet for ample storage and ceiling fans. Step out into your finished backyard, north facing for ample shade with an oversized covered patio, completed with custom turf and pavers, gazebo, firepit, mountain views and a 4' side gate creating extra space between your only neighbor as you are on the coveted corner lot. You'll love the 3-car tandem garage for all your toys, bikes and golf cart, plus overhear storage for seasonal items and luggage in between your worldly travels .

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