New River is an unincorporated community just north of Phoenix. What was once a stagecoach stop in the mid-1800s is now a well-known area along a major highway, as well as a home to about 15,000 people. New River itself is mostly made up of a nice mix of new houses and open desert, but a short drive north or south is all it takes to get to a variety of stores, eateries, and other businesses.
New River, AZ is a great place for affordable rent-to-own homes! With a median household income of over $96,187 and a median rent of $1,599, the New River, AZ rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in New River, AZ. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
New River, AZ is seeing rapid growth and New River, AZ's' housing market remains not optimal with an average home price that is 91% above the 2023 national average. New River, AZ is part of Maricopa county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2023 for county Maricopa is 0.59% which is below the national average, which is 0.99%.