Rent vs Buy in Maricopa County: Is It Cheaper to Own in Scottsdale or Phoenix?

Is It Cheaper to Buy a Home in Scottsdale or Phoenix Than Keep Renting?

If you live in Maricopa County, you’ve probably noticed rent keeps going up — sometimes hundreds of dollars a year. If your rent just jumped again, it might be time to run the numbers and see if buying a home in Scottsdale, Phoenix, or the surrounding area could actually save you money.

Why Buying in Maricopa County Might Make More Sense Than Renting

• Build your own equity, not your landlord’s. Instead of paying your landlord’s mortgage, you’re building your net worth with every payment.

• Predictable monthly costs. With a fixed-rate mortgage, your principal and interest stay the same for the life of your loan — rent almost always rises.

• Freedom to customize. Want a backyard oasis or a chef’s kitchen? As a homeowner, you call the shots.

You don’t need 20% down to make it happen. In Arizona, there are programs where you can buy with as little as 1% down — and sometimes zero down.

FAQs:

1. Do I need perfect credit to buy in Scottsdale or Phoenix?
   No — many Arizona home loan programs work with scores as low as 580.

2. What if I can’t cover the whole down payment?
   Arizona offers down payment assistance that can cover part or all of it.

3. Will buying really cost less than renting here?
   Often, yes. We’ll run a local “rent vs. buy” analysis for your exact situation and neighborhood.