Phoenix and the surrounding area see more sunshine than any other metro area in the country. Often that is enough in itself to invite people to settle and enjoy the sunny climate; but there are many other features that attract homebuyers and professionals to the city, including a thriving job market and lower cost of living. From its modern downtown, to sports stadiums, shopping, arts districts, and fine dining, as well as hiking and natural areas nearby, Phoenix has a wide range of amenities to offer.
The city was traditionally built around manufacturing and tourism. Manufactured products include aircraft parts, electronics, agricultural chemicals, leather goods, and native American crafts. Tourism is a huge part of the economy, with more than ten million visitors flocking to Phoenix each year. In recent decades, the economy has also broadened into tech, service, and financial industries. Population and economic growth have made Phoenix the center of Arizona’s economy and an attractive and profitable place for new homeowners to live.
Scottsdale: For new homebuyers and families, this area may be more suitable and residential. This area is home to an older, more mature crowd located near commercial areas. It is known for its upscale shopping, luxury spas, and fine dining. Nearby are several hiking, biking, and horseback riding trails in McDowell Mountain Regional Park.
Average home price: $750,000
Average rent: $1,915
Downtown Phoenix: If you’re looking to be in the middle of commerce, art, and culture, Phoenix’s downtown is a great option for you. You can enjoy Phoenix’s sporting events, concerts, and nightlife. Public transportation makes it easy to get about without a vehicle, and downtown is easy and walkable as well.
Average home price: $485,000
Average rent: $1,400
Paradise Valley: Sometimes known as the “Beverly Hills of the Southwest,” Paradise Valley is home to multi-million dollar properties on the cliffside, golf courses, resorts, and spas.
Average home price: $2,900,000
Average rent: $1,600
Arcadia: Considered one of the best places to live in Arizona, Arcadia is one of Phoenix’s most popular and beautiful neighborhoods; making it a great location for work, culture, entertainment, and amazing landscapes. A great place for newcomers and longtime residents alike, this area is perfect for young professionals, families, and retirees.
Average home price: $1,300,000
Average rent: $1,400
Glendale: Glendale is the fourth-largest city in Arizona, located just northwest of the Phoenix metro area. The suburb is a thriving mini metropolis, with plenty of shopping, sports, restaurants, and antique stores. There are many historic homes in the area.
Average home price: $390,000
Average rent: $1,300
Tempe: Along with Arcadia, Tempe is considered one of the best places to live in Arizona. Here you’ll find many parks, restaurants, and shops. The majority of the residents rent homes, and it is a great spot for young professionals and families.
Average home price: $450,000
Average rent: $1,700
Pathway can help you afford your dream home in Phoenix, Arizona. With our rent-to-own programs, we offer homeowners the ability to buy the home of their dreams with zero down payment and the flexibility to work with their particular financial situations. We created rent-to
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How To Guides
It can often be misleading how much money is needed to buy a home. Figuring out how much money you need to buy a house also entails more than the seller’s listing price. There are more costs involved than just the down payment, and this can come as a surprise to many new homeowners.
How much are closing costs on a house? Depending on where you are located, closing costs on a house can range anywhere from 2-5% of the total loan amount. This factors in property taxes, mortgage insurance, prepaid costs, and other fees.