Rent to own Homes in New River, AZ
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.
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Buying a Home in New River, AZ
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%.
Median Home Price in New River, AZ
Median Rent in New River, AZ
Top 5 Reasons to Move to New River, AZ
Move into a newly built home! Most people who live in New River moved there to buy a new home, so it's no surprise that the median home age is about 12 years. It's also no surprise that about 78% of the residents here own their house, which is a much higher rate of homes owned than average. Whether you are looking for rent to own houses or homes for sale, check out East Circle Mountain Road and East New River Road. You can also find homes around North Fig Springs Road and North 7th Avenue.
Delicious food for every craving! As a pretty small area, New River might not have dozens of restaurants, but the food you will find here is of high quality. You can get more than your typical pizza at The El Pizzeria, and Roadrunner Steak House will cook your steak just the way you like it.
Lots of things to do outside! This area is near lots of outdoor treasures. When you live in New River, you are only a short drive from Lake Pleasant Regional Park, which features a large lake stocked with fish, along with hiking and biking trails around it. You are also less than a half hour from Cave Creek Regional Park, which features nearly 3,000 acres of beautiful land within the Sonoran Desert.
Low property taxes! When you buy real estate in New River, you will be happy to find out that you won't be paying much in property taxes. That's because the rate is a pretty low $8 or so per $1000 of home value. You can start your search for a new home near East Johnson Road and North 16th Street or North 27th Avenue and West Mingus Road.
Conveniently located for easy travel! Residents of New River live along Interstate 17, which is a major highway in Arizona. It can take you south to downtown Phoenix in about 45 minutes or north to Prescott in an hour. When you want to see snow in the winter, you can rest assured you're only about an hour and a half south of the beautiful, colder cities of Flagstaff and Sedona. If you're on a mission to golf all day, you can just drive south for less than an hour to end up in sunny Scottsdale.