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 300 Tempe, AZ rent to own homes for sale, which may include auction properties, for sale by owner, and more.

Showing 1 - 44 of 300
1 of 22 1618 N. 32nd St.
2 Beds, 2 Baths
Rent To Own
 
Multifamily (2 - 4 Units)
Phoenix, AZ 85207
1,020 Sqft | Built in 1983
1 of 21 8333 E Via Paseo Del Norte -- # 1010
3 Beds, 3.5 Baths
Rent To Own
McCormick Ranch
Townhouse/Condo
Scottsdale, AZ 85258
1,912 Sqft | Built in 2009
New
4133 S Marin Dr
5 Beds, 3 Baths
Rent To Own
 
Single Family Home
Gilbert, AZ 85297
2,602 Sqft | Built in 2022
Hot
1 of 33 15819 N 63rd Avenue Glendale
3 Beds, 2 Baths
Rent To Own
 
Single Family Home
Glendale, AZ 85306
1,500 Sqft | Built in 1979
38500 N School House Rd Unit 38
3 Beds, 2 Baths
Rent To Own
 
Single Family Home
Cave Creek, AZ 85331
2,090 Sqft | Built in 2021
16043 W Peak View Rd
3 Beds, 3 Baths
Rent To Own
 
Single Family Home
Surprise, AZ 85387
2,290 Sqft | Built in 1985
303 S Recker Rd #148
2 Beds, 2 Baths
Rent To Own
 
Single Family Home
Mesa, AZ 85206
840 Sqft | Built in 1972
2340 E University Dr Lot 107
2 Beds, 1 Bath
Rent To Own
 
Single Family Home
Tempe, AZ 85281
720 Sqft | Built in 1971
Rent to own homes offer low monthly payments and flexible terms
1 of 9 14602 S 41th Pl
3 Beds, 3 Baths
Rent To Own
 
Multifamily (2 - 4 Units)
Phoenix, AZ 85044
1,695 Sqft | Built in 1985
1 of 31 4515 W. Commonwealth Pl.
4 Beds, 2 Baths
Rent To Own
 
Multifamily (2 - 4 Units)
Chandler, AZ 85226
1,820 Sqft | Built in 1981
New
1 of 41 2959 N 68th Pl 113
1 Bed, 1 Bath
Rent To Own
 
Townhouse/Condo
Scottsdale, AZ 85251
770 Sqft | Built in 1984
New
1 of 23 4615 N 22nd St Unit 104
2 Beds, 1.5 Bath
Rent To Own
 
Single Family Home
Phoenix, AZ 85016
1,500 Sqft | Built in 1965
1701 East Colter Street Unit 150 Biltmore Square
2 Beds, 2 Baths
Rent To Own
 
Multifamily (2 - 4 Units)
Phoenix, AZ 85016
790 Sqft | Built in 2003
3434 Test St.
4 Beds, 1.5 Bath
Rent To Own
 
Multifamily (2 - 4 Units)
Phoenix, AZ 85014
1,500 Sqft | Built in 1974
1 of 17 2345 E. Main St. Lot# 61
1 Bed, 1 Bath
Rent To Own
 
Multifamily (2 - 4 Units)
Mesa, AZ 85213
363 Sqft | Built in 2016
New
1 of 44 9708 E Via Linda 1331
2 Beds, 2 Baths
Rent To Own
Scottsdale Ranch
Townhouse/Condo
Scottsdale, AZ 85258
968 Sqft | Built in 1985
1 of 55 1448 - 1450 E. Royal Palm Rd
7 Beds, 4.5 Baths
Rent To Own
 
Multifamily (2 - 4 Units)
Phoenix, AZ 85020
3,550 Sqft | Built in 1987
312 W Maryland Ave #308-a
2 Beds, 2 Baths
Rent To Own
 
Single Family Home
Phoenix, AZ 85013
1,296 Sqft | Built in 1973
1 of 25 1749 N Lemon --
5 Beds, 5 Baths
Rent To Own
Estate Grove Valencia Est
Single Family Home
Mesa, AZ 85205
4,683 Sqft | Built in 2021
1 of 26 6720 East Encanto Street, Unit 25
3 Beds, 2 Baths
Rent To Own
Encanto Neighborhood
Multifamily (2 - 4 Units)
Mesa, AZ 85205
1,448 Sqft | Built in 2002
1 of 29 19777 North 76th Street
3 Beds, 2 Baths
Rent To Own
Greyhawk
Multifamily (2 - 4 Units)
Scottsdale, AZ 85255
1,326 Sqft | Built in 2000
1 of 10 7807 E Main St C14
1 Bed, 1 Bath
Rent To Own
Carriage Manor
Multifamily (2 - 4 Units)
Mesa, AZ 85207
528 Sqft | Built in 1971
1 of 27 650 North Hawes Road #3522
2 Beds, 2 Baths
Rent To Own
 
Multifamily (2 - 4 Units)
Mesa, AZ 85207
1,048 Sqft | Built in 2019
44448 W Vineyard St Maricopa, Az 85139-5445
3 Beds, 2 Baths
Rent To Own
 
Multifamily (2 - 4 Units)
Maricopa, AZ 85139
2,200 Sqft
1 of 15 139 S. Crismon Rd. #12
2 Beds, 1 Bath
Rent To Own
 
Multifamily (2 - 4 Units)
Mesa, AZ 85208
768 Sqft | Built in 1973
1 of 18 10960 East Monte Avenue Unit #121
2 Beds, 2 Baths
Rent To Own
Sunland Springs Village
Multifamily (2 - 4 Units)
Mesa, AZ 85209
1,375 Sqft | Built in 2013
1 of 6 Pegasus Airpark
5 Beds, 3 Baths
Rent To Own
Pegasus Airpark
Multifamily (2 - 4 Units)
Queen Creek, AZ 85142
3,700 Sqft | Built in 2003
854 S San Marcos Dr #C4
3 Beds, 2 Baths
Rent To Own
 
Single Family Home
Apache Junction, AZ 85120
1,489 Sqft | Built in 2013
1 of 12 614 West Rhonda View Road
4 Beds, 2.5 Baths
Rent To Own
 
Multifamily (2 - 4 Units)
San Tan Valley, AZ 85143
2,494 Sqft | Built in 2020
2609 W Southern Ave #254
3 Beds, 2 Baths
Rent To Own
 
Single Family Home
Tempe, AZ 85282
1,152 Sqft | Built in 1979
2701 E Utopia Rd Lot 163
2 Beds, 2 Baths
Rent To Own
 
Single Family Home
Phoenix, AZ 85050
1,344 Sqft | Built in 1982
2650 W Union Hills Dr #118
2 Beds, 1 Bath
Rent To Own
 
Single Family Home
Phoenix, AZ 85027
910 Sqft | Built in 1971
2650 W Union Hills Dr #372
2 Beds, 2 Baths
Rent To Own
 
Single Family Home
Phoenix, AZ 85027
1,006 Sqft | Built in 1972
886 W Galveston St 221
2 Beds, 2 Baths
Auction
 
Single Family Home
Chandler, AZ 85225
929 Sqft | Built in 1984
1225 North 36th Street, Unit 1031
2 Beds, 3 Baths
Auction
 
Single Family Home
Phoenix, AZ 85008
1,385 Sqft | Built in 2006
New
1367 S Country Club Drive #1225
3 Beds, 2.5 Baths
Auction
 
Single Family Home
Mesa, AZ 85210
1,823 Sqft | Built in 2008
4950 N Miller Rd #240
1 Bed, 1 Bath
Auction
 
Single Family Home
Scottsdale, AZ 85251
726 Sqft | Built in 1971
2709 E Fawn Dr
3 Beds, 2 Baths
Auction
 
Single Family Home
Chandler, AZ 85226
1,258 Sqft | Built in 1999
2nd Lien 6207 N 10th Way
3 Beds, 2.5 Baths
Auction
 
Single Family Home
Phoenix, AZ 85014
2,582 Sqft | Built in 1969
New
707 W. Milada Court
4 Beds, 2.5 Baths
Auction
 
Single Family Home
Phoenix, AZ 85041
2,715 Sqft | Built in 2004
9270 E Mission Ln
2 Beds, 2 Baths
Auction
 
Single Family Home
Scottsdale, AZ 85258
1,006 Sqft | Built in 1983
1 of 4 6730 East Preston St, 43
3 Beds, 2.5 Baths
Auction
 
Single Family Home
Mesa, AZ 85215
1,499 Sqft | Built in 1997
7645 E Harmony Ave
4 Beds, 2 Baths
Auction
 
Single Family Home
Mesa, AZ 85208
1,569 Sqft | Built in 1994
1 of 3 6717w Mariposa
3 Beds, 1.5 Bath
Auction
 
Single Family Home
Phoenix, AZ 85033
1,020 Sqft
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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 2022 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 2022 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.

Tempe, AZ Frequently Asked Questions

Tempe, AZ has a walk score of

Tempe, AZ has a bike score of

The state tax rate is 2.59 to 4.5% on top of the federal tax rate of 10 to 37%.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Some data might be from tax-rates.org
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