Back in 2011, 2013 , 2015 and most recently in October of 2018, I wrote how buying a home was cheaper than renting. ATTOM Data Solutions’ 2021 Rental Affordability Report shows that trend is continuing. Owning a median-priced 3 bedroom home is more affordable than renting the same in the metro Phoenix area. Although home prices are rising faster than rents in a majority of the country, Maricopa County is one of a handful of the most populous counties around the country where renting doesn’t pay. Home ownership is more more affordable in the Valley of the Sun, thanks in part to low mortgage rates, which have kept the cost of rising home prices here in check. So even in our overheated market, buying a home in the Phoenix-Mesa-Glendale-Scottsdale area is the best decision now to save money and build equity in the future.