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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2648 E Marcos Drive Casa Grande, AZ 85194

$477,000
2 Beds
2.5 Baths
1,911 SqFt
Status Active
MLS # 6681551
Property Type Single Family Residence
Price Type --
Indulge in the allure of the desert from your private oasis by the pool, with views of the scenic golf course. Inside, admire the custom tile, rock wall, plantation shutters, and abundant natural light. This home boasts 2 beds, 2.5 baths, a den, & an ext garage. Enjoy culinary experiences in the exquisite kitchen, featuring granite countertops, island, pendant lighting, RO, SS appliances, & staggered cabinetry w/pullouts. Unwind in the luxurious primary owner's suite, boasting a lavish en-suite with dual sink vanity, marble counters, a walk-in shower, & closet. A 2nd master suite offers its own private bath. Outside, enjoy resort-style living with a fenced yard, extended paver patio, and a 4-foot deep saltwater play pool complete with a rock waterfall and spa lounge area.

4400 E Silverbell Road San Tan Valley, AZ 85143

$477,000
6 Beds
4 Baths
3,736 SqFt
Status Active
MLS # 6670472
Property Type Single Family Residence
Price Type --
Outstanding single family home with 6 bedrooms and 4 bathrooms. There's plenty of room for everyone! Park your vehicles in the roomy 3 car garage and your toys behind the RV gate! This home has it all and is in the highly desired Copper Basin Subdivision , carpet, granite counters, plantation shutters and more! The open kitchen features stainless steel appliances and a large walk in panty. Upstairs is a large loft and the spacious primary suite. Out back is ready for you to make it your own. There is a community pool included in the HOA. This home has so much to offer. It is a must see!!

18086 N Bell Pointe Boulevard Surprise, AZ 85374

$477,000
5 Beds
3 Baths
2,631 SqFt
Status Active
MLS # 6643745
Property Type Single Family Residence
Price Type --
Welcome home to this 2022 built home in the sought after community of Bell Pointe. This home features 5 bedrooms, 3 full baths, one of which the bedroom and bath is downstairs perfect for guests or in laws, modern upgraded kitchen with quartz countertops, family room prewired for surround sound, loft, washer, dryer and refrigerator included, beautifully landscaped front and back yard with turf and extended patio, no neighbors behind you, epoxy garage floor and more. Be sure to stop and see your new home today.

3167 W Juniper Canyon Drive Phoenix, AZ 85083

$476,990
3 Beds
2 Baths
1,411 SqFt
Status Active
MLS # 6679953
Property Type Single Family Residence
Price Type --
Below Market Financing Available!!!!!!!! The Great Room, kitchen and dining room share an open floorplan in this single-level home, leading to a covered patio ideal for entertaining or relaxing. Off the foyer are two secondary bedrooms, providing a comfortable and private space for household members or overnight guests. The luxe owner's suite is situated at the back of the home, comprised of a restful bedroom, en-suite bathroom and walk-in closet. Photos are renderings of a model home, not the actual home.

6363 W Muirfield Way Florence, AZ 85132

$476,990
3 Beds
2 Baths
2,010 SqFt
Status Active
MLS # 6659978
Property Type Single Family Residence
Price Type --
Up to 3% of Base Price or total purchase price, whichever is less, is available through preferred lender.'' Lifestyle is around every corner of this community. Enjoy all the amenities that you have come to expect in 55+ living. This home is a must see with an estimated completion date of March 2024.

14380 W Alameda Road Surprise, AZ 85387

$476,180
4 Beds
2.5 Baths
4,950 SqFt
Status Active
MLS # 6676496
Property Type Single Family Residence
Price Type --
Up to 2% of total purchase price towards closing costs incentive offer. Additional eligibility and limited time restrictions apply. MLS#6676496 ~ Introducing Plan 35R3 at Rio Vista at Rancho Mercado! The spacious gathering room exudes openness and airiness, seamlessly connected to the dining area and complemented by an inviting kitchen featuring a central island, pantry, and ample counter space. Experience the joy of al fresco dining, quality time with family, or intimate gatherings with friends on the covered back patio. Ascend the stairs to discover the owner's suite boasting a generously sized walk-in closet, double vanity, and luxurious walk-in shower. Three additional bedrooms share a well-appointed full bath, while the convenience of the laundry room completes the second floor. Structural options include: paver front porch, garage service door, alternative A/C location with gate, 8' interior door, and soft water loop.

1342 W 11th Street Tempe, AZ 85281

$476,000
3 Beds
2 Baths
1,938 SqFt
Status Active
MLS # 6483221
Property Type Single Family Residence
Price Type --
MOTIVATED SELLER. The seller will consider all reasonable offers. This property has all new upgrades & finishes! This spacious home has a brick, wood-burning fireplace that you won't find in newer homes. The home features a very large chef's kitchen with plenty of room for cooking and entertaining, as well as all-remodeled bathrooms. The expansive sunroom has French doors that open up to the backyard. The backyard has two seating areas to enjoy the Arizona weather. Arizona State University and Mill Avenue are just mile away, with an abundance of restaurants, shops, bars, and entertainment. Sky Harbor Airport is just 10 minutes away. Perfect starter home, Airbnb, or long-term rental. The options are limitless. Come see today!!!

7123 Pair O Dice Road Show Low, AZ 85901

$476,000
3 Beds
2 Baths
1,404 SqFt
Status Active
MLS # 6573232
Property Type Single Family Residence
Price Type --
Beautifully remodeled 3 bed 2 bath home in the ideal location of Linden. Close to Show Low, shopping and restaurants, but with country living! This home has been lovingly remodeled this year with new flooring, a brand-new kitchen, fresh paint from floor to ceiling, a new roof and so much more! Take advantage of the beautiful yards, garden space, outside pavilion, fire pit and so much more! This home has indoor and outdoor space to entertain through all 4 seasons! Seller is directly related to the listing agent.

40930 W Agave Road Maricopa, AZ 85138

$475,990
4 Beds
3 Baths
2,142 SqFt
Status Active
MLS # 6641288
Property Type Single Family Residence
Price Type --
START PACKING... It's the Castellano.. This home has 4 bedrooms, 3 baths and 3 car garage. Large walk-in shower at owner's bath. Multi slide door that leads out to the covered patio perfect for entertaining. Gas range for the cook in the family. Benton painted white cabinets with 42'' kitchen uppers and pull out trash drawer with two bins. DT One Quartz Evening Gray countertops in the kitchen and at the enhanced kitchen island. DT Marble Attache Matte kitchen backsplash and stainless steel undermount kitchen sink. 8' tall interior doors throughout the home. Upgrade flooring includes MZ Norwood Oak 6x24 tile in all areas of the home except bedrooms/closets. Gas drop to dryer, gas stub for BBQ, 8' garage door, garage service door and so much more.

10722 E Dragoon Circle Mesa, AZ 85208

$475,610
4 Beds
2.5 Baths
1,807 SqFt
Status Active
MLS # 6652744
Property Type Single Family Residence
Price Type --
BRAND NEW HOME TO BE BUILT! UP TO $20,000 IN BUILDER INCENTIVES ON THIS ONE! LOW interest rate programs available! Diamond Court, built by Newmark Homes, is an 18 home community nestled in a prime location in Mesa with lots of new retail/restaurants close by. This floorplan (see photos) is the Residence 3 with the 4th bedroom option added! Dual walk in closets in Primary Bedroom! The slab is already poured on one of the larger premium lots in the subdivision- check out the extended length driveway and has no neighbors behind it! Some structural options have been added, but buyer can still choose flooring, cabinets, counters, etc!

5258 E Calle De La Fresa -- Hereford, AZ 85615

$475,500
4 Beds
2 Baths
1,926 SqFt
Status Active
MLS # 6662071
Property Type Single Family Residence
Price Type --
GORGEOUS NEW 2x6 CONSTRUCTION HOME w/AMAZING MOUNTAIN VIEWS on almost an acre(.83)! This well appointed 1926sf 4bd 2ba home PLUS a DEN offers a TON of extras! The den could easily be a 5th bedroom if you need it. Modern deco colors! SPACIOUS & OPEN Great Room Floor Plan. HUGE island kitchen with BEAUTIFUL contemporary modern style cabinets, high grade granite countertops, and Stainless Steel appliances including natural gas range and refrigerator. Huge primary bedroom suite with EXTRA insulation in the wall for sound proofing. Beautiful porcelain tile flooring throughout. Extra Large Windows throughout. Plumbed for natural gas dryer. MOUNTAIN VIEWS! OVERSIZED 3 Car Garage. RV PARKING!

13148 W Nogales Drive Sun City West, AZ 85375

$475,500
2 Beds
2 Baths
1,904 SqFt
Status Active
MLS # 6660568
Property Type Single Family Residence
Price Type --
**ABSOLUTELY BEAUTIFUL** SAN MARCO MODEL** PRIDE OF OWNERSHIP ABOUNDS** IN THE SPOTLESS GEM **NEWER STAINLESS STEEL APPLIANCES** NEWER AC** TURNKEY OPTION IS AVAILABLE** WITH HIGH END FURNITURE IF DESIRED** WORRY FREE LIVING WITH TRANSFERABLE HOME WARRANTY THROUGH 2026 **PRACTICAL MEETS LUXURY** IN THIS STUNNING HOME** ARIZONA LIVING AT ITS FINEST **

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