Rent-to-Own Homes in Tempe, AZ: What You Need to Know
Situated to the east of Phoenix, Tempe, Arizona is a city best known for the many festivals held year-round in its beautiful, warm climate. The city, located in Maricopa County, is classified as a mid-sized city with just under 196,000 residents.
There are six Fortune 500 companies in the 'Valley' in Arizona, of which Tempe is a part. Insight Enterprises, one of the six, is headquartered in Tempe. Several large employers are located in and around Tempe, including Carvana, DriveTime Automotive, Arizona State University, State Farm Insurance, and Centene Corporation. The average salary for a resident in Tempe is $65,000. The most popular jobs tend to be in technology and education, where the pay scales are average to above average.
Cost of Living
Living in Tempe, Arizona is slightly more expensive than the national average. On average, it’s 8% more expensive than the rest of the United States, mainly due to housing costs at an average of $276,800, approximately 24% more than the national average. Most other household necessities, such as utilities, groceries, and transportation, are slightly more expensive than elsewhere in the state and nation. Tempe's average rental cost for an apartment is $1,355, a 3.1% increase over last year. Two-bedroom units go for an average of $1,418, while one-bedrooms are reporting an average rent of $1,195. Tempe is, mainly, a city of renters, with only 40% of the city reported as homeowners.
Weather and Climate
Tempe's desert climate means summers are hot and long, while winters are mild and comfortable. Rain is minimal, with fewer than nine inches falling annually. December is the coolest month, with temperatures rarely dipping below 55ºF. July is the hottest month, with average temperatures of 96ºF and several days surpassing 100ºF.
Schools and Higher Education
Four school districts provide K-12 education to students from the Tempe area. These include Kyrene Elementary School District, Tempe School District, Tempe Union High School District, and East Valley Institute of Technology. Combined, these districts have 104 schools to serve the student population.
Tempe, Arizona is considered one of the top college towns in the nation due to its beautiful natural landscape, outdoor amenities, wide selection of dining options, and vast entertainment choices. There are three colleges in Tempe, with another 29 more within 50 miles of the city. The best known of the Tempe schools is Arizona State University, which draws students from throughout the country.
From golf to hiking to swimming and more, sports participation and recreation are major pastimes in Tempe. Several professional clubs are located in or near Tempe. They include Arizona Coyotes (NHL), Arizona Cardinals (NFL), Arizona Diamondbacks (MLB), and Phoenix Suns (NBA). Major league teams have been in Arizona for less than 50 years, but the fans have grown to love their teams quickly and passionately.