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 374 results.
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1854 E Intrepid Avenue, Mesa 85204, Suntree Lot 1-228 TR A

  • $168,000
  • Bedrooms: 3, Baths: 2
  • Home size: 1,089
  • Lot size: 3,672
  • Year built: 1983
  • MLS #: 5770696
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1036 W Farmdale Avenue, Mesa 85210, Country Village 2

  • $209,999
  • Bedrooms: 3, Baths: 2
  • Home size: 1,323
  • Lot size: 6,961
  • Year built: 1971
  • MLS #: 5770947
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222 W Brown Road, Mesa 85201, Northwood Park Lot 1-120 TR A-C

  • $170,000
  • Bedrooms: 3, Baths: 2
  • Home size: 1,343
  • Lot size: 967
  • Year built: 1981
  • MLS #: 5769204
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1149 W Windjammer Drive, Gilbert 85233, Cove AT The Islands Lot 1-173 TR A-Z AA-DD

  • $225,000
  • Bedrooms: 2, Baths: 2.5
  • Home size: 1,198
  • Lot size: 1,808
  • Year built: 1995
  • MLS #: 5771171
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9842 E Escondido Avenue, Mesa 85208, LA Fortina

  • $199,900
  • Bedrooms: 3, Baths: 2
  • Home size: 991
  • Lot size: 3,826
  • Year built: 2005
  • MLS #: 5771112
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28591 N Dolomite Lane, San Tan Valley 85143, Copper Basin Unit 3B

  • $193,000
  • Bedrooms: 3, Baths: 2.5
  • Home size: 1,803
  • Lot size: 5,227
  • Year built: 2005
  • MLS #: 5739049
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29894 N Broken Shale Drive, San Tan Valley 85143, Johnson Ranch Unit 8

  • $195,000
  • Bedrooms: 3, Baths: 2
  • Home size: 1,677
  • Lot size: 5,016
  • Year built: 2003
  • MLS #: 5754443
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1255 S Rialto Road, Mesa 85209, Muirfield Village Condominium

  • $209,000
  • Bedrooms: 3, Baths: 2.5
  • Home size: 1,449
  • Lot size: 759
  • Year built: 2009
  • MLS #: 5770853
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8506 E Lindner Avenue, Mesa 85209, Marbella

  • $224,000
  • Bedrooms: 3, Baths: 2
  • Home size: 1,363
  • Lot size: 4,050
  • Year built: 2003
  • MLS #: 5771157
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48 N Penny Place, Gilbert 85234, Greenhaw Place

  • $225,000
  • Bedrooms: 2, Baths: 1
  • Home size: 800
  • Lot size: 15,285
  • Year built: 1956
  • MLS #: 5771153
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36057 N Mirandesa Drive, San Tan Valley 85143, Parcel 17 AT Circle Cross Ranch

  • $212,000
  • Bedrooms: 4, Baths: 2
  • Home size: 1,741
  • Lot size: 5,227
  • Year built: 2008
  • MLS #: 5771146
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6505 E Ellis Street, Mesa 85205, Dreamland Villa 16

  • $209,900
  • Bedrooms: 2, Baths: 2
  • Home size: 1,374
  • Lot size: 7,595
  • Year built: 1974
  • MLS #: 5771134
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806 E Bruce Avenue, Gilbert 85234, Liberty Square at Lowe Estates

  • $225,000
  • Bedrooms: 2, Baths: 1
  • Home size: 1,116
  • Lot size: 3,977
  • Year built: 1985
  • MLS #: 5752332
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726 S Pasadena --, Mesa 85210, EL May Villa Amd Replat OF

  • $219,999
  • Bedrooms: 4, Baths: 2
  • Home size: 1,700
  • Lot size: 8,431
  • Year built: 1970
  • MLS #: 5771124
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1696 W Prospector Way, Queen Creek 85142, Morning Sun Farms Unit 3

  • $210,000
  • Bedrooms: 4, Baths: 2.5
  • Home size: 2,068
  • Lot size: 5,663
  • Year built: 2007
  • MLS #: 5771123
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ARMLS Listing Data last updated 5/25/2018 11:37 AM MST.