Financial Fitness Zone: Renters in the desert

Posted at 7:18 AM, Aug 02, 2016
and last updated 2016-08-02 10:22:59-04

It’s no secret that Arizona is one of the fastest-growing states in the nation.

And with growth comes the growing pains. So how painful is it to rent in our state?

We love living in the desert, right?

I’ve been hearing from some of my friends and family who’ve looked for rentals that it’s pretty tough out there right now.

Having said that, there are some statistics that show that it might be tougher in other cities. Like, most other cities.

WalletHub is a personal finance website and, get this, they ranked 8 Arizona cities in the top 15 out of 150 cities across the country. If you throw in Tucson at number 25, then Arizona dominates the “Best Cities for Renters” list.

So what does that mean?

It doesn’t mean that Scottsdale, Chandler, Tempe, Gilbert, Peoria, Phoenix, Glendale and Mesa necessarily have the lowest cost of living. That title goes to cities in Texas like Laredo and Brownsville.

But the affordability combined with availability and quality of life considerations like jobs, drivers, weather and schools add up to Arizona coming out on top.

I know what you might be thinking: that doesn’t really line up with my experience.

And a Harvard study shows more Americans are renting now than any other time in the last 50 years so check out the study itself to get into the nitty gritty of the nation’s housing numbers.