An amount below 100 means Arizona is cheaper than the US average. A cost of living index above 100 means Arizona, Arizona is more expensive….Arizona cost of living is 102.2.

Is it a good time to buy a house in Arizona?

While home prices in Phoenix have soared and inventory is extremely limited, the good news is that mortgage rates are still pretty competitive on a national level. And that extends to rates in Arizona as well. And if you can swing a 15-year mortgage, you might score a rate as low as 2.4%.

How much does it cost to rent a house in Arizona?

According to a report from the National Low Income Housing Coalition (NLIHC), the rental prices in Arizona have become out of reach for many residents. For too many low-income workers, wages have not kept pace with rising rents and home prices. Workers need to make $21.10 an hour to afford a 2-bedroom rental at a fair-market rate.

How is the real estate market in Arizona?

As we saw Arizona real estate market thriving & becoming sizzling hot in the past couple of years, even the rise in mortgage rates was believed not to affect it. Low-interest rates are helping boost but the inventory is sparse. High demand and low inventory have increased prices, which is a piece of good news if you plan on selling.

What happens when you sell a rental property?

For tax purposes, a rental house or condo is considered an investment property, which makes the sale a bit more complicated. When you sell a rental it can be subject to different taxes and rules than a standard residential sale. Read on for the essential facts. 1. Your tenant may have first right of refusal if you’re selling a rental property

When is the best time to sell a rental property?

A few more months of passive income is beneficial, but if you’ve been thinking about selling in the near future anyway, it can be smart to sell when you know you can fetch a high sale price. After all, if you wait and have to sell at a lower price down the road, those monthly rent checks may not have been worth it.