Rent to own Homes in Tempe, AZ

Tempe, Arizona, is a Phoenix suburb with about 161,000 residents. It is the home of Arizona State University, which has almost 60,000 students enrolled at its Tempe campus alone. Though students have definitely made their mark on this city, there are also many families and young professionals who live and work here. Most areas of Tempe are within short distance of major freeways like the 60, 101, I-10, and 202. These are the main lifelines to nearby cities where many Tempe residents work, such as Scottsdale, Mesa, and downtown Phoenix. If you're looking for a rent-to-own house or somewhere to buy and put down your roots, Tempe might be a great choice.

Tempe, AZ is a great place for affordable rent-to-own homes! With a median household income of over $61,290 and a median rent of $1,230, the Tempe, 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 Tempe, 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.

Check out Tempe, AZ rent to own homes for sale, which may include auction properties, for sale by owner, and more.
Showing 1 - 44 of 176
1831 E MANHATTON DR
Rent To Own
Alameda
Single Family Home
Tempe, AZ 85282
4
2
2288 ft2
1981
1 of 24 280 S Evergreen Rd #1301
Rent To Own
Mesa Grande
Multifamily (2 - 4 Units)
Tempe, AZ 85281
3
3
1100 ft2
2007
122 E ELLIS DR
Rent To Own
Kiwanis The Lakes
Single Family Home
Tempe, AZ 85282
3
3
1632 ft2
1965
830 S DOBSON RD #35
Rent To Own
West Mesa
Townhouse/Condo
Mesa, AZ 85202
3
1
896 ft2
1972
830 S DOBSON RD #95
Rent To Own
West Mesa
Townhouse/Condo
Mesa, AZ 85202
3
1
896 ft2
1972
830 S DOBSON RD #7
Rent To Own
West Mesa
Townhouse/Condo
Mesa, AZ 85202
2
1
784 ft2
1972
4646 E OAK ST
Rent To Own
 
Single Family Home
Phoenix, AZ 85008
3
3
1444 ft2
1957
4208 E SAINT CATHERINE AVE
Rent To Own
 
Single Family Home
Phoenix, AZ 85042
3
2
1274 ft2
1973
1204 W EL PRADO RD
Rent To Own
Chandler
Single Family Home
Chandler, AZ 85224
4
2
1570 ft2
1979
3514 N APACHE WAY
Rent To Own
Southwest Village
Single Family Home
Scottsdale, AZ 85251
5
5
3500 ft2
2022
3536 E OAK ST
Rent To Own
 
Single Family Home
Phoenix, AZ 85008
4
2
1850 ft2
1952
1 of 22 1618 N. 32nd St.
Rent To Own
 
Multifamily (2 - 4 Units)
Phoenix, AZ 85207
2
2
1020 ft2
1983
Hot
2816 N 33RD PL
Rent To Own
 
Single Family Home
Phoenix, AZ 85008
3
3
1918 ft2
1950
Hot
1663 W PRINCETON AVE
Rent To Own
El Dorado Lakes Golf Community
Single Family Home
Gilbert, AZ 85233
3
2
1848 ft2
1995
5324 N 37TH PL
Rent To Own
 
Single Family Home
Paradise Valley, AZ 85253
4
5
5169 ft2
2008
3150 S ARIZONA PL
Rent To Own
Chandler
Single Family Home
Chandler, AZ 85286
4
3
2629 ft2
2018
8512 E VIA DE LA ESCUELA
Rent To Own
McCormick Ranch
Single Family Home
Scottsdale, AZ 85258
3
3
2270 ft2
1977
8512 E Via De La Escuela --
Rent To Own
McCormick Ranch
Single Family Home
Scottsdale, AZ 85258
3
3
2270 ft2
2260 E WILDHORSE PL
Rent To Own
Chandler
Single Family Home
Chandler, AZ 85286
3
2
1204 ft2
1996
7690 N VIA DE PLATINA
Rent To Own
McCormick Ranch
Townhouse/Condo
Scottsdale, AZ 85258
2
2
1890 ft2
1979
1993 S SPARTAN ST
Rent To Own
Gilbert
Single Family Home
Gilbert, AZ 85233
3
2
1273 ft2
1996
3829 N 4TH ST
Rent To Own
 
Single Family Home
Phoenix, AZ 85012
4
2
1545 ft2
1900
6101 N 13TH PL
Rent To Own
 
Single Family Home
Phoenix, AZ 85014
3
2
2205 ft2
1959
2449 E IMPALA AVE
Rent To Own
Jerome Avenue Crime Buster
Single Family Home
Mesa, AZ 85204
4
2
1778 ft2
1980
4821 S 5TH AVE
Rent To Own
 
Single Family Home
Phoenix, AZ 85041
4
3
1676 ft2
2008
1107 W OSBORN RD #208
Rent To Own
 
Townhouse/Condo
Phoenix, AZ 85013
1
1
845 ft2
1950
7845 N 17TH ST
Rent To Own
 
Single Family Home
Phoenix, AZ 85020
3
3
3337 ft2
1972
1313 E RUTH AVE
Rent To Own
 
Single Family Home
Phoenix, AZ 85020
3
2
1260 ft2
1960
1881 E BARBARITA AVE
Rent To Own
Sonoma Ranch
Single Family Home
Gilbert, AZ 85234
4
2
1820 ft2
1994
7710 N 3RD AVE
Rent To Own
 
Single Family Home
Phoenix, AZ 85021
3
2
2328 ft2
1944
New
2201 E SHEA BLVD
Rent To Own
 
Single Family Home
Phoenix, AZ 85028
4
3
2 ft2
1979
3820 E SWEETWATER AVE
Rent To Own
 
Single Family Home
Phoenix, AZ 85032
3
2
1545 ft2
1973
1605 W WINTER DR
Rent To Own
 
Single Family Home
Phoenix, AZ 85021
4
3
3380 ft2
2006
4133 S MARIN DR
Rent To Own
Gilbert
Single Family Home
Gilbert, AZ 85297
5
3
2602 ft2
2021
13406 N 36TH PL
Rent To Own
Southern East
Single Family Home
Phoenix, AZ 85032
4
2
1420 ft2
1972
13613 N 76TH ST
Rent To Own
Paradise Valley Ranchos
Single Family Home
Scottsdale, AZ 85260
5
5
4155 ft2
2019
2706 E DAHLIA DR
Rent To Own
 
Single Family Home
Phoenix, AZ 85032
3
2
1740 ft2
1972
9648 E SHEENA DR
Rent To Own
 
Single Family Home
Scottsdale, AZ 85260
4
2
1796 ft2
1996
2683 E BLUE SPRUCE LN
Rent To Own
Gilbert
Single Family Home
Gilbert, AZ 85298
3
2
2291 ft2
2007
303 S Recker Rd #148
Rent To Own
East Mesa
Single Family Home
Mesa, AZ 85206
2
2
840 ft2
1972
3840 N. 43RD AVE #59,
Rent To Own
 
Single Family Home
Phoenix, AR 85023
3
2
7500 ft2
1975
6021 E ANDERSON DR
Rent To Own
 
Single Family Home
Scottsdale, AZ 85254
5
4
3484 ft2
1995
5137 W BERKELEY RD
Rent To Own
Wedgewood Park
Single Family Home
Phoenix, AZ 85035
3
2
1814 ft2
1977
7442 E NIDO AVE
Rent To Own
East Mesa
Single Family Home
Mesa, AZ 85209
3
2
1323 ft2
1997
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Buying a Home in Tempe, AZ

Tempe, AZ is seeing rapid growth and Tempe, AZ's' housing market remains not optimal with an average home price that is 32% above the 2024 national average. Tempe, 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 2024 for county Maricopa is 0.59% which is below the national average, which is 0.99%.

Median Home Price in Tempe, AZ

Median Rent in Tempe, AZ

Rent to own homes offer low monthly payments and flexible terms.

Top Reasons to Live in Tempe AZ

Housing Statistics The number of owners and renters in Tempe is about equal, and that's not surprising since this is a major college town with lots of apartments, condos, and rental homes near campus. The many students is also why Tempe has an annual residential turnover rate of about 28%, with the average time for residents to stay in a home lasting about 2 years. The median sales price of homes in Tempe is $195,000, and the vacancy rate is about 10%. As you search for houses to rent or buy, as well as rent to own homes, take note that the houses in this city are about 30 years old on average.

Local Sports If you're anywhere near Arizona State University in Tempe, you'll find it hard to ignore Sun Devil Stadium and its thousands of passionate fans. It's safe to say college football is important to the residents of Tempe, but that's not the only sport that people pay attention to. Wells Fargo Arena is also located on campus and is the site of college basketball, wrestling, gymnastics, and volleyball competitions. In addition, for almost 20 years, Sun Devil Stadium was where the NFL's Arizona Cardinals played all their games. Even though the games moved to Glendale, many Tempe locals still root for this team. Other sports with teams here include mixed martial arts, rugby, and rowing, to name a few options for athletes in Tempe.

Largest Employers and Industries Not surprisingly, Arizona State University is by far the top employer in Tempe, with more than 11,000 employees in the area. Maricopa County Community College District is another top employer, with the Kyrene School District not far behind. Clearly, education is the main industry in Tempe. Another well-known employer is the Salt River Project, which provides the city with water and electrical power. Other major employers here include US Airways, Honeywell, and a few banks and grocery stores. Take note that additional common industries in this city are food services, construction, and healthcare. Like most cities, the unemployment rate in Tempe changes often, but one pattern that doesn't change is that it is typically a few points lower than Arizona's average.

Nightlife Tempe is known for its incredible nightlife, and ASU plays a large role in that since it has frequently been named one of the top party schools. The main nightlife district is Mill Avenue, which is a large street lined with nightclubs, bars, restaurants, and small boutiques. Some of the most popular are Mill Cue Club, Rula Bula Irish Pub, and Tavern on Mill. Due to its popularity with residents and visitors alike, high-rise apartments and equally tall business buildings have been built around Mill over the last few decades, creating highly sought after commercial and residential properties. But a single street is not large enough to house all the bars demanded by the college crowd, so the places to drink tend to spill over onto University Drive, which intersects with Mill. Of course, sprinkled around the rest of the city are additional hot spots, including dive bars, dance clubs, and hookah lounges. Casey Moore's Oyster House - which is supposedly haunted - is just one of the popular bars in Tempe. And then there's Tempe Marketplace, which is newer and just a few minutes from ASU and Mill Avenue. It's an outdoor shopping center with dozens of big-box retailers, upscale restaurants, small shops, trendy bars, and a large movie theater. Thirsty Lion Pub and Grill is just one option for food and drinks here. There are also outdoor fireplaces surrounded by comfortable seating so you can enjoy the live music coming from the outdoor stages of this shopping center.

Outdoor Activities Residents of Tempe like to get out of the house and be active. Tempe Butte, which the locals call "A" Mountain due to the large letter "A" on it, is right by ASU and is a great spot for hiking and biking. Papago Park, which is located near the Phoenix Zoo, is another popular place for hikers and bikers to go. Tempe Town Lake is a man-made lake within walking distance of ASU, and it provides a beautiful backdrop for bike riding, walking, or jogging. And of course, fans of water activities use it for rowing, boating, and fishing. Tempe Beach Park is next to the lake, and it has a splash park for kids, as well as plenty of sports fields. Kiwanis Park also offers sports fields, as well as tennis courts, an indoor wave pool, and more. Golfers tend to flock to the ASU Karsten Golf Course, and many more courses in surrounding cities are just a short drive away.