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DeDe Forwood - REALTOR® e-PRO®

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Owning Is More Affordable Than Renting In Phoenix and 19 US Metropolitan Areas

Owning Is More Affordable Than Renting In Phoenix and 19 US Metropolitan Areas

Most people rent because they think it’s more affordable than owning a home—but in a huge number of metros in the United States, that’s just not true.

According to a recent study from LendingTree, the median mortgage payment is less than the median rent payment in 20 of the 50 largest metros in the US. That means that owning a home in one of these areas will actually save you money over renting. And in another 13 metros, the price difference between owning a home and renting is less than $100 per month—which means that while owning a home in these metros is more expensive, the difference in price isn’t significant, especially when you consider that homeownership is a long-term investment.

Phoenix, Arizona

Median monthly rent payment: $1149
Median monthly mortgage payment: $1105
Difference between median monthly rent and median monthly mortgage payment: -$44

The Takeaway

If you’ve been renting because you think it’s the more affordable option, it might be time to reevaluate. Homeownership may be more affordable than you think. And, in many areas, a mortgage might actually be less than your current rent payment, not to mention the equity you’d be billing and you wouldn’t be paying someone else’s mortgage anymore.

Want to find the home of your dreams?

And also get it at the best price possible? Then download your free copy of this guide: The Ultimate Home Buyer’s Guide

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DeDe Forwood

My name is DeDe Forwood, I am a Phoenix Real Estate Agent with HomeSmart. I traveled for 20 years in the entertainment industry as a Project Manager/ video engineer in major event operations.. After being on the road for so long, becoming a Phoenix Realtor® seemed like the perfect fit for my experience, attention to detail, love of helping people, and my passion for Phoenix! My background in project management and event operations is actually an amazing fit with Phoenix real estate. I'm someone who is both organized AND passionate about all things buying and selling homes in Phoenix.  My area of expertise is the Phoenix historic neighborhood districts, midtown, downtown and the central corridor. LISTING WITH ME, you get the passion of someone who is all about the digital age in real estate. With the tech-savvy experience of a digital marketer,  I offer my clients the cutting edge of technology that changes constantly, attention to detail, professionalism, fairness, honesty, integrity, and enthusiasm. BUYING WITH ME as your buyer's agent, you get every digital advantage to find listings quickly, the energy to go see them quickly. LOOKING TO RENT A PROPERTY?  Let me search for you! We can find the perfect place, together! I've got the passion that only a customer service nerd can have, a love of all things real estate in Phoenix, the project management, and engineer's brain, and the tech-savvy-ness of a digital marketer.  Let's get you HOME!!

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