Urban Housing in Phoenix is Comparatively Cheap (Suburbanites Pay More)

It’s cheaper to own a home or rent one in Phoenix than in the average U.S. city. That’s not news. But a new analysis finds that in most cities, urban dwellers pay a higher percentage of their income for either a new mortgage or for rent than do their suburban and rural counterparts. Yet in the Phoenix metro area, it’s the suburbanites who pay more.

urban vs suburban housing costs

The costs of urban living are acute in some cities. In urban areas of the Seattle metro area, for example, new buyers would spend on average 40.4 percent of their income on their mortgage payment, the analysis by Zillow found.

The analysis also found that in Phoenix and across the country, renters signing a new lease typically take on a bigger financial burden than do new homeowners, “in large part due to still-low interest rates for buyers,” Zillow said.


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Prickett Realty, serving Anthem & North Phoenix


The median home value, according to Zillow:

  • Urban: $ 218864
  • Suburban: $ 270052
  • Rural: $ 219058

For comparison, here are the average sales prices for existing homes across NoPho in August:

  • Desert Hills/New River: $431,331
  • Anthem Parkside: $333,112
  • Anthem Country Club: $437,848
  • Tramonto/Sonoran Foothills: $370,318
  • Norterra Area: $410,121

See the full monthly analysis of NoPho home sales here.


 


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Here’s a sneak peek at some of the homes we have “coming soon” in this incredibly tight market:

Pool with Swim-up Snack Bar!
Upgraded Majesty model on cul-de-sac with lovely landscaping.
W St. Exupery Court, Anthem Parkside
4 BEDS + CASITA | 3.5 BATHS | 2-CAR GARAGE | 2,915 SQFT | $455,000

Upgraded Patio Home!
Master on 1st floor, premier end-lot overlooking green space! Close to school, park, shopping.
W Murfield Court, Anthem Paseo
4 BEDS | 2.5 BATHS | 2-CAR GARAGE | 1,772 SQFT | $269,000

NEW POOL and Sweeping Views!
End of quiet cul-de-sac, backyard faces east at Anthem’s edge.
N Long Landing Court, Anthem Country Club
4 BEDS + CASITA | 4.5 BATHS | 2-CAR GARAGE | 3,556 SQFT | $590,000

Large View Lot Near 1st Gate!
Bennington with 14-foot ceilings, fireplace, no homes behind!
N Moss Springs Road, Anthem Country Club
3 BEDS | 2.5 BATHS | 3-CAR GARAGE | 2,542 SQFT | $440,000

Stunning Backyard + RV Parking! 
Spacious Wonder model on east-facing view lot with 3-car garage and paved RV Parking.
N 50th Drive, Arroyo Grande 
4 BEDS + Office + Teen Room + “Attic” | 3.5 BATHS | 3-CAR GARAGE | 4,009 SQFT | $449,000

Call or Text 623-297-2557 to Learn More

Robert Roy Britt
NoPho resident Robert Roy Britt has written for In&Out publications since its inception in 2005. Britt began his journalism career in New Jersey newspapers in the early 1990s. He later became a science writer and was editor-in-chief of the online media sites Space.com and Live Science. He has written four novels. Email the author.
Robert Roy Britt on Email

Robert Roy Britt

NoPho resident Robert Roy Britt has written for In&Out publications since its inception in 2005. Britt began his journalism career in New Jersey newspapers in the early 1990s. He later became a science writer and was editor-in-chief of the online media sites Space.com and Live Science. He has written four novels. Email the author.

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