Report: Renting a home is more affordable than buying one in Phoenix

Houses in Avondale. / Kevin Dooley, CC 2.0 / Phoenix New Times

 

By Steven Hsieh | Phoenix New Times

Renting a three-bedroom home in the Phoenix metro area is generally more affordable than buying a median-priced home, according to a new report.

And it’s not just Phoenix. It might be a better option for Arizonans to rent over buying in seven of the 10 counties analyzed by ATTOM Data Solutions, a property data management company.

ATTOM analyzed data from 755 counties in the United States, including average rent prices from the U.S. Department of Housing and Urban Development and average weekly wages collected by the U.S. Department of Labor. Home prices came from ATTOM’s own databases.

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