No RENTS for the Weary

Are you having trouble finding a rental property in Phoenix right now? Well, you are not alone. Our rental inventory is a fraction of what it was a few years ago. Just to out things in perspective, in 2008,there were roughly 10,000 properties listed for rent in Metro Phoenix. Right now, there are less than 2200 homes or rent, listed on the MLS. And I mean in all of Metro Phoenix, meaning Phoenix and its suburbs.   That figure does not include vacation homes, but good luck there where rents are significantly higher than market rents, due to the furnished and short term nature of these leases. And keep in mind that there were a lot less people living here in 2008 than there are now.

Can't find a home to rent?

Can’t find a home to rent?

You might find some additional properties on Craigslist or Zillow, or by driving around, desperately looking for For Rent signs posted in the front yards of potential rentals.  Some might even resort to calling homes for sale, and begging the seller to rent instead. Yup. It’s tough out there.

So guess what’s going to happen? Rents are going to go up. It’s a simple matter of supply and demand.  You will be paying more rent, that is, if you are lucky enough to find a home to rent!

Do you ever think about ending this rental madness?  You should. These days, with lower interest rates, low down payment mortgage options and down payment assistance programs, you can get into a home with a cash equivalent of your security deposit, and a monthly payment that is equal to – or even less than – your monthly rent, including all the taxes and insurance. Plus you get a tax write off!

Jacana - Rent v BuyThink you can’t buy? Do you have a million excuses why you must remain a lifetime renter? Well, check this out:

See this house —->

You can rent it right now for about $1325 per month.

Screenshot 2016-03-20 08.13.36Or you could buy this $185,000 home with an FHA loan, 3,5% down at 5% interest (which is a little higher than the average mortgage rate right now) for $1254 per month.

 

If you qualify for one of several down payment assistance programs available right now, you could make this purchase with as little as $1000 in your pocket. I am serious!!

Check out these great homes you could be buying by trading in your rent payment for a mortgage payment:

Displaying 1 - 15 of 326 results.
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2525 E Meadow Lark Way, San Tan Valley 85140, Meadow Vista

  • $218,000
  • Bedrooms: 3, Baths: 2.5
  • Home size: 2,293
  • Lot size: 3,920
  • Year built: 2005
  • MLS #: 5795619
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1123 S Drew Street, Mesa 85210, Beall Park 2

  • $205,000
  • Bedrooms: 3, Baths: 2
  • Home size: 1,370
  • Lot size: 8,149
  • Year built: 1969
  • MLS #: 5796463
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820 W University Drive, Tempe 85281, Rosen Place

  • $209,900
  • Bedrooms: 3, Baths: 2.5
  • Home size: 1,098
  • Lot size: 1,494
  • Year built: 1984
  • MLS #: 5796451
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483 S Seawynds Boulevard, Gilbert 85233, Seawynds Lot 1-152 TR A C D E1-E11 F1 F2

  • $198,000
  • Bedrooms: 3, Baths: 2.5
  • Home size: 1,305
  • Lot size: 1,590
  • Year built: 1986
  • MLS #: 5777621
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1255 S Rialto Road, Mesa 85209, Muirfield Village Condominium

  • $207,000
  • Bedrooms: 3, Baths: 2.5
  • Home size: 1,449
  • Lot size: 759
  • Year built: 2009
  • MLS #: 5770853
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1525 E Southern Avenue, Tempe 85282, Park Riviera Townhouses

  • $217,777
  • Bedrooms: 3, Baths: 2
  • Home size: 1,704
  • Lot size: 2,056
  • Year built: 1970
  • MLS #: 5795248
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1613 W Carol Avenue, Mesa 85202, Mccormick Estates 1

  • $190,000
  • Bedrooms: 3, Baths: 2
  • Home size: 1,323
  • Lot size: 7,344
  • Year built: 1963
  • MLS #: 5796531
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334 S Aaron --, Mesa 85208, Sienna Estates

  • $219,900
  • Bedrooms: 4, Baths: 2.5
  • Home size: 1,756
  • Lot size: 2,440
  • Year built: 2012
  • MLS #: 5774909
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8802 E University Drive, Mesa 85207, Desert Heights

  • $198,900
  • Bedrooms: 2, Baths: 2
  • Home size: 1,007
  • Lot size: 3,250
  • Year built: 1999
  • MLS #: 5784174
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5808 E Brown Road, Mesa 85205, Cortina Vista Amd

  • $164,000
  • Bedrooms: 3, Baths: 2.5
  • Home size: 1,280
  • Lot size: 0
  • Year built: 1995
  • MLS #: 5796492
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2135 E Ellis Drive, Tempe 85282, Continental Villas East 3

  • $212,000
  • Bedrooms: 2, Baths: 1.75
  • Home size: 1,371
  • Lot size: 3,611
  • Year built: 1973
  • MLS #: 5796475
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9056 E Gable Avenue, Mesa 85209, Amador

  • $208,000
  • Bedrooms: 3, Baths: 2
  • Home size: 1,345
  • Lot size: 3,993
  • Year built: 2002
  • MLS #: 5793159
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1350 S Greenfield Road, Mesa 85206, Tesoro AT Greenfield Condominium

  • $215,000
  • Bedrooms: 3, Baths: 2
  • Home size: 1,342
  • Lot size: 2,280
  • Year built: 2007
  • MLS #: 5796460
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4326 E Meadow Creek Way, San Tan Valley 85140, Castlegate Parcel 3

  • $175,000
  • Bedrooms: 3, Baths: 2
  • Home size: 1,438
  • Lot size: 7,405
  • Year built: 2006
  • MLS #: 5796422
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30775 N Bareback Trail, San Tan Valley 85143, Johnson Ranch Unit 4A

  • $199,900
  • Bedrooms: 3, Baths: 2
  • Home size: 1,441
  • Lot size: 6,534
  • Year built: 2002
  • MLS #: 5784620
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ARMLS Listing Data last updated 7/21/2018 10:06 AM MST.