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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18643 W Miami Street Goodyear, AZ 85338

$499,999 - 3Br/3Ba -  for Sale in Las Brisas Phase 1, Goodyear
New
$499,999
3 Beds
2.5 Baths
2,489 SqFt
Status Active
MLS # 6701844
Property Type Single Family Residence
Price Type --
The perfect stunning 3-bedroom, 2.5-bathroom residence nestled in the heart of Goodyear. This home boasts Contemporary light fixtures and open floor plan seamlessly connects the family room to the chef's kitchen. The kitchen featuring a gas cooktop, granite countertops, and sleek stainless-steel appliances. a large island. A master suite, with a full bathroom that has dual sinks, separate tile shower and tub, large walk-in closet. RV Gate, A 3 car tandem garage that offers durable epoxy floor ensures easy maintenance, while the well-organized cabinets optimize storage efficiency, resulting in a space that is both visually appealing and highly practical. Your new home awaits you! organized cabinets optimize storage efficiency, resulting in a space that is both visually appealing and highly practical. Your new home awaits you!

2739 E Windsor Avenue Phoenix, AZ 85008

$499,999
4 Beds
3 Baths
1,544 SqFt
Status Active
MLS # 6609476
Property Type Single Family Residence
Price Type --
Sellers Offering 2% Concession. Centrally located 3bd/2ba Main house with 230 sq ft guest house with a bathroom and no HOA. Close to hospitals, AZ Center, sports stadiums, symphony hall, light rail, parks, airport and hiking nearby at Camelback Mtn. The home has a welcoming great room that leads right into the beautifully updated kitchen with quartz countertops, pendant lighting, stainless steel appliances and tile/vinyl throughout the whole downstairs. The primary suite is downstairs with a large walk-in closet and its own ensuite. Stairs were redone with vinyl. The upstairs has 2 bedrooms with walk-in closets and a hall bathroom. Guest house has its own AC unit, bathroom, and beautiful vinyl flooring. Roof replaced 2022 & new AC on the main house in 2019.

6525 W El Cortez Place Phoenix, AZ 85083

$499,999
3 Beds
2 Baths
1,720 SqFt
Status Active
MLS # 6678806
Property Type Single Family Residence
Price Type --
Stunning Designer 3bed/2bath Home Located In Quiet Hillside Development On A Cul De Sac Lot* Gorgeous Interior Design Draped In Soft Neutral Palette Colors* Kitchen w/ Plenty of Cabinets Space, Large Pantry & Island to entertain Your Guests* The 12'X 20' Office/Homeschool/Media Room Is Perfect For the New Lifestyle Demands* Nice Size Master Suite & Bath W/ Dbl Sinks & Lg Walking* French Doors Leads Out To Covered Patio & Spacious Backyard W/ Manicured Tiff Winter Lawn* Sunset Views Of Luden Mtn W/Access to Hiking & Endless Mountain Biking* Please Read Semi Private Remarks Regarding the APS solar PANEL AGREEMENT... There is no monthly fee and the homeowner is credited a monthly amount for APS allowing them to use the panels to feed their power grid system

3594 W Oil Well Road San Tan Valley, AZ 85144

$499,999
3 Beds
2.5 Baths
1,816 SqFt
Status Active
MLS # 6687160
Property Type Single Family Residence
Price Type --
You'll LOVE this incredible single-story home in the desirable Community of Promenade! Come inside to find a captivating open layout filled with recessed & decorative light fixtures, a trending palette, wood-look tile floors, a contemporary fireplace, & multi-sliders that merge indoor & outdoor living. Gourmet kitchen is fully equipped with a gas cooktop, a wall oven, granite counters, tile backsplash, a walk-in pantry, beautiful wood shaker cabinetry with crown molding, & a large island with a breakfast bar. Retreat to the carpeted main bedroom, featuring a full ensuite with dual sinks, a makeup vanity table, & a walk-in closet. The home's elegance extends outdoors to the backyard, offering a covered patio, an attached Ramada, an exterior fireplace, a fire pit, & pavers.

17008 W Butler Avenue Waddell, AZ 85355

$499,999
5 Beds
3 Baths
2,786 SqFt
Status Active
MLS # 6690854
Property Type Single Family Residence
Price Type --
The Cottonwood floor plan gives you the primary bedroom on the 1st floor, 5 bedrooms, 3 full baths, with a huge large loft and a study downstairs with double doors to accommodate all the entertaining you could want and then some! The kitchen features warm brown shaker cabinets with 42'' uppers and crown molding, beautiful back splash with quartz counter tops. This home is on a N/S facing lot and from the backyard you have beautiful views of the White Tank Mountains. Our High-Performance Homes come standard with home automation technology, a REME HALO Air Purification system and they are designed with you in mind, to stay healthier & more comfortable in your new home. This home will deliver in May.

14595 W Acapulco Lane Surprise, AZ 85379

$499,999
4 Beds
2.5 Baths
2,310 SqFt
Status Active
MLS # 6699093
Property Type Single Family Residence
Price Type --
Clean and Fresh! 4 bed/2.5 bath with a Den, Formal Dining and Living Room, Loft upstairs. Open Floorplan! Backyard is already complete with BBQ, Above Ground Pool with Professional Equipment, and Shed. Area has Everything! Spring Training, Surprise Community Park with Fishing, Library, Dog Park and Family Ammenities including Shopping, Restaurants, Easy Freeway Access to 303, 101 and Grand.

3668 S 180th Lane Goodyear, AZ 85338

$499,998
3 Beds
3 Baths
1,955 SqFt
Status Active
MLS # 6695603
Property Type Single Family Residence
Price Type --
Welcome to your dream home in Las Brisas Phase 2B! This stunning residence built by Taylor Morrison in 2021 is a masterpiece of modern living, offering a perfect blend of luxury and functionality. The kitchen is outfitted with a customizable Samsung Smart Refrigerator and washer-dryer units, adding a touch of modern convenience to your daily routine. The entryway is adorned with a beautiful accent wall, setting the tone for the elegance and style found throughout the home. Don't miss your chance to own this exceptional residence in Las Brisas Phase 2B. It's a rare opportunity to experience luxury living in one of Goodyear's most sought-after communities. As you step inside, you're greeted by an inviting open floor plan that seamlessly connects the living, dining, and kitchen areas. The heart of the home is the spacious gourmet kitchen, featuring a large granite countertop island, ample cabinetry, and a walk-in pantry. It's a chef's delight, perfect for hosting gatherings and creating culinary masterpieces. The state-of-the-art smart home security system ensures peace of mind and convenience for you and your family. Luxury continues in the bathrooms, where you'll find raised vanities that add a touch of sophistication to your daily routine. The large 3-car tandem garage is a car enthusiast's dream, complete with built-in shelving and cabinets for all your storage needs. Outside, the backyard is a blank canvas awaiting your creativity. Whether you envision a serene oasis with a lush garden and patio or a vibrant outdoor entertainment area, the possibilities are endless. Additionally, within the Las Brisas community, you'll discover many parks with amenities such as volleyball nets, basketball courts, and soccer nets. It's a perfect setting for a fun and active lifestyle, ideal for both families and those who love to stay active. The community is also pet-friendly, ensuring that your furry companions can enjoy the outdoors as much as you do. This home is also Pearl Certified, meaning it's energy-efficient and environmentally friendly, saving you money on utility bills while reducing your carbon footprint.

40419 W Michaels Drive Maricopa, AZ 85138

$499,995
4 Beds
2.5 Baths
3,000 SqFt
Status Active
MLS # 6695669
Property Type Single Family Residence
Price Type --
The main floor of the Yorktown was designed for entertaining, offering an expansive great room and an open dining room overlooking a covered patio and backyard. A gourmet kitchen with a large center island, built in wall microwave/oven combination, and gas cooktop awaits the inner chef. The 3-car garage leads to a convenient mudroom with walk-in closet, a powder room and a private study. On the second floor, there's an immense loft surrounded by three bedrooms(one includes a walk-in closet!), a shared bath, and a large laundry room. The owner's suite includes a deluxe bath showcasing a separate soaking bath and shower along with a spacious walk-in closet.

17657 W Running Deer Trail Surprise, AZ 85387

$499,995
4 Beds
3 Baths
2,220 SqFt
Status Active
MLS # 6636944
Property Type Single Family Residence
Price Type --
You'll find plenty to love about this home! The center of the home boasts a large kitchen with a convenient center island and walk-in pantry, which flows into an open-concept dining nook and great room. This home has four bedrooms and 3 bathrooms. The owner's suite has a deluxe master bath shower and large walk-in closet. An upgraded shower in the guest bath. Additional options include ten-foot ceilings, 2 car extended garage with plenty of storage, gourmet kitchen, soft water pre-plumb and great room slider.

40363 W Wade Drive Maricopa, AZ 85138

$499,995
5 Beds
3 Baths
3,030 SqFt
Status Active
MLS # 6693668
Property Type Single Family Residence
Price Type --
The Main floor of the inviting Ammolite plan offers a great room and well appointed kitchen with center island and roomy pantry. Upstairs, discover a central loft, a laundry and three secondary bedrooms with a shared bath. A lavish primary suite boasts an expansive walk-in closet and private bath rounds out the floor. You'll love the professionally curated fixtures and finishes selected by our design team.

21415 N Elba Road Maricopa, AZ 85138

$499,995
4 Beds
3.5 Baths
2,500 SqFt
Status Active
MLS # 6528777
Property Type Single Family Residence
Price Type --
Maricopa decadence! Welcome to one of the premier properties located within the prestigious Rancho El Dorado Community of Mariocopa. This home boasts an immense great room with center-meet doors that leads onto a cheerful covered patio that faces to the east and gets great shade in the afternoon. Also included: a gourmet kitchen boasting 42'' upper cabinets, a center island, a spacious walk-in pantry and an adjacent dining room; a secluded owner's suite showcasing an oversized walk-in closet and a deluxe bath with double sinks; a convenient powder room; a central laundry; three secondary bedrooms with a shared full bath; a 2-car garage PLUS an additional side-turn garage.

18655 W Honeysuckle Drive Surprise, AZ 85387

$499,995
3 Beds
2 Baths
1,826 SqFt
Status Active
MLS # 6630289
Property Type Single Family Residence
Price Type --
Welcome to this RV Ultra Garage Pewter home! Included features: a covered entry; a well-appointed kitchen boasting 42'' upper cabinets, quartz countertops, stainless-steel appliances, a center island and a walk-in pantry; a relaxing great room and adjacent dining room; a secluded primary suite showcasing additional windows, a spacious walk-in closet and a private bath with double sinks; a central laundry; two secondary bedrooms with a shared bath; a charming covered patio; a 2-car garage and an attached RV garage. This home also offers wood laminate flooring, cultured marble bath countertops, ceiling fan prewiring in select rooms, front yard landscaping and concrete pavers at the driveway and walkway. Spring 2024 Move-in

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