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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15270 W Taylor Street Goodyear, AZ 85338

$475,000
5 Beds
2.5 Baths
2,030 SqFt
Status Active
MLS # 6621249
Property Type Single Family Residence
Price Type --
THIS 5 BEROOM, 2.5 BATH TOTALLY REMODELED HOME IS WAITING FOR THE PERFECT FAMILY TO ENJOY. FROM THE MINUTE YOU WALK INTO THE LIVING SPACE WITH ALL NEW FLOORING THROUGHOUT THE HOME, OPEN KITCHEN, DINNING AND FAMILY AREA TO THE STUNNING STAIRCASE WITH BANISTER. ALL NEW KITCHEN, BATHROOMS, FIXTURES; ADDED PLUMBING, COMPLETE PAINT, NEW SUN SCREENS TO THE GREEN TURF BACKYARD FOR YOUR FAMILY TO ENJOY. THIS IS A HOME OF PURE DETAIL IN DESIGN. CUL DE SAC LOT!!!!

13641 W Pyracantha Drive Sun City West, AZ 85375

$475,000
3 Beds
2 Baths
1,849 SqFt
Status Active
MLS # 6627458
Property Type Single Family Residence
Price Type --
*Pre-Listing Inspection Completed!* This spacious home was just remodeled into a beautiful, bright and open work of art right in the heart of Sun City West, a renowned 55+ community. You're immediately greeted with a great room with separate access to the back yard or Arizona room. It flows into the open concept kitchen, with a 6-person island hosting a brand new electric range. You have plenty of cabinet space throughout the home. Enjoy the tranquility of your private Arizona room and the sunsets in your fully fenced backyard. Feeling social? Buzz out your front door and make a U-Turn to the official RH Johnson Recreation Center equipped with a Pool, Pickelball Courts, Tennis Courts, Dog Parks, and a Members-Only Library (shh!). Location, Location, Location! This spacious home was just remodeled into a beautiful, bright and open work of art right in the heart of Sun City West, a renowned 55+ community. You're immediately greeted with a great room providing access to either the back yard or Arizona room. Flowing into the open concept kitchen with ALL new appliances, you will find a 6-person island hosting a brand new electric range and hood. You have plenty of cabinet space, brand new Luxury Vinyl Plank flooring, brand new paint, LED lighting, blinds, and skylights throughout the home. Your master bath boasts a modern, spacious shower, water conscious toilet and walk-in closet in ADDITION to the sliding door access to the Arizona Room. Your second master suite is on the North side of this split floor plan equipped with a large closet and matches the theme of the other bath. Guest bedroom is off the kitchen and very spacious. 2-car standard garage has built-in cabinets on both sides with pedestrian access door to the side yard. Feeling social? Buzz out your front door and make a U-Turn to the official RH Johnson Recreation Center equipped with a Pool, Billiards, Bowling Alley, Pickelball Courts, Tennis Courts, Dog Parks, and a Members-Only Library (shh!). Brand new water heater installed by seller. (not installed by seller: new age tin/asphalt roof, roof AC unit)

2276 Lindbergh Road Overgaard, AZ 85933

$475,000
2 Beds
3 Baths
1,511 SqFt
Status Active
MLS # 6626364
Property Type Single Family Residence
Price Type --
A great find in Mogollon Airpark! Whether you are looking for your summer cabin or your full time home, look no further. This 3 bedroom, 1.75 bath has over 1500 square feet providing plenty of room for friends and family. The open kitchen is great for entertaining, and he split bedrooms provide privacy for everyone. Relax on the large, wrap-around deck, or stargaze by the firepit. During the cool months you can cozy up in front of the woodstove. Located just a few hours from the valley, you will be surrounded by tall pines, a variety of wildlife, and the peacefulness of the small, mountain town. The fenced in yard is full of tall pines and has watering system to keep the landscape looking great. Paved roads, completely fenced, and an HOA keep this subdivision looking great. Furnished

4504 Besant Way Wickenburg, AZ 85390

$475,000
2 Beds
2.5 Baths
1,720 SqFt
Status Active
MLS # 6628007
Property Type Single Family Residence
Price Type --
Enjoy the Privacy of 2 Primary Suites. Live the good life with a owned Solar System that will have you enjoying APS energy credits throughout the year. Nestled in the Pinto Neighborhood this home features HOA managed landscape & private cul-da-sac location. Your motorized patio shades will provide privacy screening while enjoying the gorgeous sunset colors every night. Upgraded flooring, cabinets, light fixtures throughout with an AMAZING number of cabinet pull outs designed into your kitchen. Home includes custom window covers with additional screening at 12ft sliding wall of glass. Garage includes ample custom cabinet storage, work space & owned RO system.

4200 N Miller Road Scottsdale, AZ 85251

$475,000
3 Beds
2 Baths
1,419 SqFt
Status Active
MLS # 6628992
Property Type Apartment
Price Type --
Looking for the perfect place to call home? This charming property located in the Marquessa Condominiums is the one! Prepare to be impressed by a perfectly flowing layout showcasing gleaming wood-look tile flooring, soothing palette throughout, & sliding glass doors opening to the enchanting balcony. The impressive chef's kitchen offers white shaker cabinets, wall oven, SS appliances, quartz counters, stylish subway tile backsplash, recessed lighting, & a peninsula equipped with a convenient breakfast bar. Double doors open to the primary bedroom comprised of a private bathroom featuring dual sinks, a makeup vanity, & a walk-in closet. Enjoy an excellent location close to markets, shopping spots, coffee shops, & so much more! Don't miss out on this one!

1970 Maritime Drive Show Low, AZ 85901

$475,000
3 Beds
2.5 Baths
2,009 SqFt
Status Active
MLS # 6636341
Property Type Single Family Residence
Price Type --
Brand new custom home in an active adult golf community! This stunning home features 3 bedrooms, 2.5 bathrooms, and an oversized 2 car garage. Open concept floorplan showcases white shaker cabinets, quartz countertops, stainless steel appliances, and black hardware. Gated community features a lush golf course, community center with billiards, pool, spa, shuffleboard, tennis, and more.

1265 E Judi Street Casa Grande, AZ 85122

$475,000
4 Beds
2 Baths
2,321 SqFt
Status Active
MLS # 6631916
Property Type Single Family Residence
Price Type --
THIS GORGEOUS, 4-BDRM, 2-BATH HOME boasts THOUSANDS IN QUALITY UPGRADES THROUGHOUT! Spacious, open floor plan with Great Room, separate dining room and a wonderful kitchen with granite counters, large dining island with pendant lighting and stainless appliances. Fresh interior paint and Levelor blinds in neutral colors throughout. 3-car tandem garage with cabinets and storage racks. Maturely landscaped backyard offers a sparkling pool, HUGE Pergola Patio and She-Shed. Double side-gates and electrical hook-up (No on-site RV parking, but temporary parking is permitted.). Custom lighting and much more! Cottonwood Ranch features walking paths and a kids playground PLUS low, low HOA fees! Hurry to see this MOVE-IN READY HOME!

4727 E Euclid Avenue Phoenix, AZ 85044

$475,000
3 Beds
2 Baths
1,596 SqFt
Status Active
MLS # 6650274
Property Type Single Family Residence
Price Type --
Charming Patio Home in The Pointe South Mountain Nestled in a peaceful cul-de-sac with breathtaking mountain views, this attractively priced patio home in the sought-after ''Resort Style Community'' of The Pointe South Mountain awaits you. Experience the perfect blend of comfort and convenience in this 3 bedroom, 2 bath residence. The family room, adorned with a distinctive bee hive fireplace, flows seamlessly into a cozy living room and dining area. The home features a speakeasy, den and a spacious 2-car garage, all set against the stunning backdrop of South Mountain Preserve and the lush Arizona Grand Golf Course. Just around the corner from the Pima Canyon Trailhead. It's your personal resort oasis. Embrace an active lifestyle with community pools/spas, and endless hiking/biking trails right at your doorstep. Golf enthusiasts will love the proximity to the golf course. This unique neighborhood is just minutes from Sky Harbor Airport, major freeways, and a plethora of shopping centers. Downtown Phoenix, ASU, and much more are easily accessible. Don't miss this opportunity for a serene lifestyle in a prime location. Easy to show - your new home awaits!

5231 E Red Bird Lane San Tan Valley, AZ 85140

$475,000
4 Beds
2.5 Baths
2,135 SqFt
Status Active
MLS # 6685418
Property Type Single Family Residence
Price Type --
Welcome to your dream home nestled just moments away from the vibrant heart of San Tan Valley. This exquisite custom residence radiates sophistication and meticulous craftsmanship, evident from the moment you set eyes on its captivating curb appeal. The front yard, ensconced within a charming fence and gated entry, sets the tone for the luxury that awaits within. Step inside to discover a modern oasis adorned with tasteful accents and premium finishes. The interior exudes elegance with its contemporary and neutral palette, complemented by sleek ceramic tile flooring that seamlessly flows throughout the home. As you enter the living room, your gaze is drawn upward to the enchanting tray ceiling, equipped with pre-wired surround sound, perfect for immersive entertainment experience The heart of the home, the spacious kitchen, beckons with its seamless integration into the living space. Custom kitchen cabinets, adorned with white quartz countertops, provide both functionality and style, while state-of-the-art Samsung appliances, including a refrigerator, dishwasher, microwave, washer, and dryer, elevate the culinary experience. Plantation shutters adorn every window, adding a touch of elegance and privacy to each space. Elevated ceilings grace the main living areas, soaring to 10 feet, enhancing the feeling of openness and grandeur. Retreat to the master en suite, where relaxation awaits in the luxurious soaking tub, surrounded by pristine white quartz countertops and custom mirrors. Outside, the delights continue with an RV gate and ample space for recreational vehicles and toys, ensuring endless outdoor adventures. A sprawling covered patio, adorned with cooling fans, invites al fresco dining and leisurely gatherings, while a meticulously crafted pavered area awaits your grill for memorable barbecue nights under the stars. With attention to detail evident at every turn, this stunning home offers a lifestyle of unparalleled luxury and comfort. Don't miss the opportunity to make this exquisite sanctuary your own.

17472 W Elaine Drive Goodyear, AZ 85338

$475,000
4 Beds
3 Baths
2,999 SqFt
Status Active
MLS # 6652448
Property Type Single Family Residence
Price Type --
$5,000 credit to Buyer for desired upgrades! Welcome to your new home. This 2-story residence is elegant & functional offering a comfortable & spacious lifestyle. This home is thoughtfully designed to provide convenience and style. The 1st floor has 1 bedrm and a full bathrm, catering to guests or multigenerational living. The 2nd floor features a master bedrm, two bedrms, a den & loft, allowing each family member to have their own space. Enjoy a large dining rm & family rm, perfect for entertaining guests or cozy nights by the fireplace. Chefs will benefit from a spacious kitchen with ample storage space. A generously sized backyard with a covered patio, offering a perfect spot for outdoor gatherings and relaxation. This home will warmly greet you & your guests!

2635 W Silver Streak Way Queen Creek, AZ 85144

$475,000
3 Beds
2.5 Baths
2,486 SqFt
Status Active
MLS # 6652308
Property Type Single Family Residence
Price Type --
This charming two-story home features a spacious layout with a downstairs half-bathroom and a convenient office space. The large loft upstairs is an ideal kids' playroom, offering ample space for creativity and play. Step outside to a beautiful pool, perfect for relaxation and entertainment. Located just minutes away from hiking trails, it seamlessly blends indoor comfort with outdoor adventure. Appliances, carpeting, and an air-conditioning unit were all updated since May 2023!

1825 E Beautiful Lane Phoenix, AZ 85042

$475,000
4 Beds
2 Baths
2,169 SqFt
Status Active
MLS # 6687851
Property Type Single Family Residence
Price Type --
$6K PAID TOWARD BUYERS CLOSING COSTS AND/OR PREPAIDS! 2169 sq ft, 3bdr plus den home in the highly sought after GATED community of Las Colinas with mature tree lined streets and sidewalks. Newly painted, new carpets, new bath & kitchen plumb fixtures, door hardware. From the moment you walk through the front door, you'll see a beautiful, open and spacious home. Split floor plan, eat in kitchen overlooking the newly landscaped backyard. Primary bedroom is large and spacious, and the primary bath features a separate tub and shower. This home is a must see! Washer and dryer were left behind by previous tenants and included in the purchase. Seller has never used them, please include washer and dryer are included as is in purchase agreement.

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