A Rent to Own property in Arizona is a marvelous opportunity to enter into a vibrant housing market with the consistently appreciating prices of homes, particularly in the major metro areas. The leasing period allows you to time to gain equity in the home, determine if you indeed like the home itself, and gives you extra time to put any financial issues in order to qualify for a mortgage when the time comes to make the full purchase.
Make your home in the Grand Canyon StateArizona is one of the great western states that boasts dry climates and virtually year-round sunshine perfect for solar enthusiasts. The geography can differ across the state from hot deserts in the south to evergreen trees in the north. The Grand Canyon state popularly known for its Wild West history and rugged demeanor has now become a center for tech industry start-ups. Some of the state’s major metro areas are hubs for technology, manufacturing, education, and tourism. Census Bureau averages at about 1.5 percent annually according to the Census Bureau. The Bureau for Labor Statistics notes that job growth in Arizona continues at 2.5 percent and unemployment sits at 6.5 percent. The median household income is $40,558 and the median family income is $46,723 annually.
The Real Estate Picture in Arizona
The median value of owned homes in Arizona rose to $191,800 in early May 2015 according to Zillow. Their current predictions show that property values will rise approximately 2.9 percent over the course of this year after growing 5 percent last year. Homes in Arizona are priced nicely for middle class buyers and seasonal "snowbird" visitors escaping the cold winters up north. Some of the most popular metro areas in Arizona are Phoenix, Tucson, Tempe, Sedona, and Glendale.
EducationSchool rankings are mixed throughout the state with many of the best schools concentrated near major metro areas. Arizona is home to some more notable universities that include Arizona State University, University of Arizona, Grand Canyon University, and Northern Arizona University.
The Wave in Paria Canyon-Vermilion Cliffs Wilderness, AZ. Via 101 EarthSafety
According to Neighborhood Scout, crime rates vary widely between different areas depending on factors such as population density and overall prosperity. Violent crime rates in Arizona are slightly above the 3.8 per 1,000 residents national average at 4.16, while non-violent crime is 33.99 per 1,000 residents, slightly higher than the 27.3 national average.
Culture and Entertainment
Arizona has a lot to offer its residents in fun points of interest, that include both natural and historic man-made wonders such as Grand Canyon, Tombstone, AZ, Red Rock State Park, Hoover Dam, and Meteor Crater. Arizona is known for it’s rustic Western culture of cowboys, rodeo shows, and state fairs, which includes a vibrant to Latino community through festivals, music, and food. There is also a strong Native American population that influences the local customs, art, and cuisine that the Grand Canyon State has to offer.