Buying Is Now 33.1% Cheaper Than Renting in the US

Buying Is Now 33.1% Cheaper Than Renting in the US | Simplifying The Market

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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223 S Thunder Mountain Payson, AZ 85541

$475,000
2 Beds
2 Baths
1,269 SqFt
Status Active
MLS # 6692913
Property Type Single Family Residence
Price Type --
Gorgeous single level home built in 2019 in the beautiful Sanctuary At The Rim Subdivision! This 2 bedroom, 2 bathroom home features 1,269 sq. ft., vaulted ceilings, and a 2 car garage. The living room has luxury vinyl plank floors, and an open floor plan to the kitchen for easy entertaining. The kitchen has a gas stove, quartz counter tops, plenty of storage space, and a kitchen island with a breakfast bar. The master suite features a walk-in closet, double sinks, a private toilet room and a walk-in shower. The backyard is fenced with astro-turf, paver patio and a covered patio perfect for summer get togethers.

3615 S Margo Drive Tempe, AZ 85282

$475,000
3 Beds
2.5 Baths
1,544 SqFt
Status Active
MLS # 6694129
Property Type Single Family Residence
Price Type --
Good central location. 2-3 miles to ASU, downtown Tempe, waterfront, and all the fun Tempe events. Easy access to 4 major freeways and airport. Swimming pool with an outside bathroom, just in time for summer! Travertine tile throughout. Upgraded dual pane windows and newer AC for cost effective utilities. Open floor plan. Two living rooms. Updated kitchen. Turf and easy desert landscaping. RV gate. No HOA. Perfect for investment! Inside laundry and garage

2165 W Bennett Way San Tan Valley, AZ 85144

$475,000
4 Beds
2.5 Baths
2,990 SqFt
Status Active
MLS # 6694311
Property Type Single Family Residence
Price Type --
Great, open concept home located in the desirable community of Morning Star Farms features a Large chef kitchen, granite counters, large island & eat in kitchen with Stainless appliances including double oven, Formal dining room and large family room. Upstairs to the loft and 4 bedrooms including the primary suite. Easy to maintain backyard, with RV gate and covered patio for entertaining. Nearby parks, shopping and restaurants.

120 E Rio Salado Parkway Tempe, AZ 85281

$475,000
1 Bed
1.5 Baths
1,264 SqFt
Status Active
MLS # 6695435
Property Type Apartment
Price Type --
Experience Tempe Town Lake living to it's finest! This beautiful condo has everything you need with a gourmet kitchen and appliances including refrigerator, gas cooktop/oven, DW. Also includes W/D, fireplace, prewired for Surround sound and an extra storage room in the garage! This is the largest one bedroom floorplan available in Edgewater with a large patio offering stunning views of Tempe Town Lake as well as the swimming pool/spa amenity. Walk to all Mill Ave shops and restaurants, the Metro light rail, ASU, & enjoy everything Downtown Tempe has to offer!

753 E Mariposa Place Chandler, AZ 85225

$475,000 - 3Br/2Ba -  for Sale in Crystal Cove, Chandler
New
$475,000
3 Beds
2 Baths
1,407 SqFt
Status Active
MLS # 6696624
Property Type Single Family Residence
Price Type --
This is a really sharp home with a fantastic pebble tec pool. The house has vaulted ceilings throughout and a nice open concept kitchen/great room area. Kitchen has white cabinets & stainless steel appliances. The primary bedroom & bath are a nice size with a walk-in closet, dual sinks with private toilet room. The backyard has a large patio and huge pebble tec pool. The property has a 2 car garage with direct access into the home. Nice sized laundry and the washer/dryer are included. The home has tons of natural light, neutral colors throughout & low maintenance vinyl floors in most of home - no carpet.

4212 E Milky Way Gilbert, AZ 85295

$475,000 - 4Br/3Ba -  for Sale in Willows, Gilbert
New
$475,000
4 Beds
2.5 Baths
1,711 SqFt
Status Active
MLS # 6695587
Property Type Single Family Residence
Price Type --
This captivating 4-bedroom, 2.5-bathroom home is the epitome of your dream abode! Step into an inviting great room boasting lofty ceilings, a serene color scheme, and a delightful fusion of wood-like and tiled floors. The gourmet kitchen is a culinary haven, adorned with ample white cabinetry featuring elegant crown molding, top-of-the-line built-in appliances, a convenient pantry, subtle recessed lighting, and a center island with a breakfast bar perfect for laid-back dining. Retreat to the primary suite, a tranquil oasis graced with plush carpeting, an ensuite boasting dual sinks, and a generous walk-in closet. Outside, relish in breathtaking sunsets from the well-appointed backyard, showcasing a charming paver patio and lush green lawn. Don't miss out on this exceptional value!

4138 E Orchid Lane Gilbert, AZ 85296

$475,000 - 4Br/3Ba -  for Sale in Gardens Parcel 4, Gilbert
New
$475,000
4 Beds
2.5 Baths
1,990 SqFt
Status Active
MLS # 6695793
Property Type Single Family Residence
Price Type --
Discover the perfect blend of comfort and style in this stunning single-family home located in the highly sought-after THE GARDENS community in Gilbert. Boasting 4 bedrooms and 2.5 bathrooms, this residence offers the ideal backdrop for modern family living. Step inside and be greeted by the beautifully updated open-concept living, dining, and family rooms. Light gray tile plank flooring graces all traffic areas, creating an inviting and contemporary atmosphere. New window coverings and updated electric outlets, along with modern lighting fixtures, add a touch of elegance to every space. Bright open kitchen, featuring pristine white cabinetry, a convenient island, and stainless steel appliances. Primary suite on the second level, complete with a spacious walk-in closet and extended sink bathroom vanity. Newer AC unit and a gas water heater, ensuring your comfort and convenience year-round. Grassy shade covered backyard, It's the perfect space to unwind after a long day. THE GARDENS community is truly unique, with its tree-lined streets, 11 parks, 3 sparkling pools, sand volleyball courts, basketball courts, and an abundance of scenic walking paths. It's a neighborhood designed for an active and vibrant lifestyle. Conveniently located near the 202 freeway, top-rated schools, and the popular San Tan Village shopping district, you'll have everything you need just moments away. Don't miss out on the opportunity to make this beautiful home yours today. Act quickly, as homes in this prime location don't stay on the market for long! Come and see it soon! *****Temporary 1-0 Buydown offered by preferred lender for qualified buyers.*****

5202 N 16th Drive Phoenix, AZ 85015

$475,000 - 3Br/3Ba -  for Sale in Colter Close, Phoenix
New
$475,000
3 Beds
2.5 Baths
2,211 SqFt
Status Active
MLS # 6696354
Property Type Townhouse
Price Type --
LUXURY, LOCATION ,ENTERTAINMENT AND CHARM ARE ALL HERE .JUST STEPS AWAY FROM THE NIGHT LIFE AND GREAT DINING.THIS 2 STORY, 3 BED PLUS A DEN HOME IN A GATED COMMUNITY WITH A LOW HOA WILL IMPRESS. RUN DONT WALK THIS WILL GO FAST. ENTER TO VAULTED CEILINGS ,LAMINATE WOOD FLOORS AND NUETRAL PAINT. ALL THE APPLIANCES ARE INCLUDED. ALL THE LIGHTING IS LOW E. THE NEW WINDOWS WILL HELP KEEP THE AC BILL LOW.THE PICTURE PERFECT OFFICE IS LITE AND CHEERY WITH FRENCH DOORS THAT OVER LOOK A JULLET BALCONY.PERFECT FOR WORKING FROM HOME.THERE IS A BRAND NEW SMART WATER HEATER WITH WARRANTY.THERE IS ALSO SOFT WATER LOOP .HOA IS REROOFING IN AUGUST AND THE ASSESSMENT WILL BE PAID AT COE. THERES A COMMUNITY POOL AND HEATED SPA GREAT COMPLEX.,,LIGHTRAIL IS NEAR BY. CALL YOUR AGENT NOW...

3823 E Waterman Street Gilbert, AZ 85297

$475,000 - 3Br/2Ba -  for Sale in San Tan Ranch Parcel 13, Gilbert
New
$475,000
3 Beds
2 Baths
1,521 SqFt
Status Active
MLS # 6697026
Property Type Single Family Residence
Price Type --
Welcome to this beautifully upgraded home nestled in the heart of San Tan Ranch. What an opportunity to own this inviting, single-story home featuring BRAND NEW stainless appliances & soft bedroom carpeting. Well-designed interior boasts tall ceilings, graceful arches, art niches & bay windows (natural light). Spacious kitchen seamlessly flows into the living area-perfect for entertaining. Bathrooms have been enhanced with granite counters & delightfully tiled showers. Generously-sized main suite boasts large walk-in closet. Relax under the covered patio-enjoying the privacy in this lush green backyard. Community amenities include playgrounds, parks, sport courts, etc. This immaculate & upgraded house could be your new home!

1824 N Vista Lane Casa Grande, AZ 85122

$475,000 - 5Br/3Ba -  for Sale in Cottonwood Ranch Parcel C, Casa Grande
New
$475,000
5 Beds
3 Baths
2,942 SqFt
Status Active
MLS # 6697569
Property Type Single Family Residence
Price Type --
Welcome to your dream home on a serene cul-de-sac lot, surrounded by lush landscaping and boasting a crisp curb appeal. With only one neighbor, you'll enjoy privacy and tranquility in this peaceful neighborhood. Step inside and be greeted by a grand entryway into the spacious living room, featuring vaulted ceilings, two-tone paint, and stunning wrought iron railing. The open floor plan flows seamlessly into the eat-in kitchen with a breakfast bar, perfect for entertaining guests or enjoying family meals. The kitchen is any chef's dream with stainless steel appliances, maple spice cabinets, crown molding, and recessed lighting. Enjoy cooking outside in the outdoor kitchen equipped with a built-in BBQ while taking in views of your beautiful koi pond. Retreat to your primary bedroom oasis with access to a private view deck where you can relax and take in the breathtaking surroundings. The en-suite bathroom offers raised vanities with dual sinks, separate shower/tub, double closets for ample storage space. This former model home also features an upstairs laundry for convenience and a downstairs mother-in-law suite for guests or multigenerational families. Don't miss out on this rare opportunity to own such a unique home that checks off all boxes - location, privacy, luxury amenities - all wrapped up in one gorgeous package!

1825 E Aloe Place Chandler, AZ 85286

$475,000
3 Beds
2 Baths
1,365 SqFt
Status Active
MLS # 6693989
Property Type Single Family Residence
Price Type --
This charming single-level residence boasts undeniable curb appeal. Featuring new carpet and fresh interior paint, this 3-bedroom, 2-bathroom home also offers a spacious backyard, perfect for adding a pool, located in the highly sought-after Saguaro Canyon neighborhood. This home is situated in a prime area of Chandler, within the Chandler School District. Conveniently close to major employers such as the Intel Ocotillo Campus and Northrop Grumman, as well as the Chandler Municipal Airport, with easy access to Loop 101, I-10, and the San Tan 202 freeways. Additionally, it's just minutes away from shopping, dining, multiple golf courses, and other neighboring cities in the metro Phoenix area. Don't miss out on the opportunity to see this exceptional home!

1263 E Century Avenue Gilbert, AZ 85296

$475,000 - 3Br/2Ba -  for Sale in Val Vista, Gilbert
New
$475,000
3 Beds
2 Baths
1,401 SqFt
Status Active
MLS # 6694167
Property Type Single Family Residence
Price Type --
Popular 3 bedroom Continental Home split floor plan, move-in ready, located in north-central Gilbert, close to dining, shopping, schools, and freeway. Newly installed carpet, faucets, ceiling fans, granite kitchen countertops, bathroom countertops, and lighting fixtures. Freshly painted inside and new heat pump/AC. Brand new never-been-used stainless dishwasher, range/stove, built-in microwave. Beautiful backyard mature landscaping with grass and covered patio. Interior photos will be added soon.

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