Overview

Mesa is one of the largest suburbs of Phoenix in Maricopa County, Arizona. It is the 3rd-largest city in Arizona. This growing city is home to about 500,000 people with a long history dating back 2,000 years to the Hohokam (a prehistoric group of Native Americans).

The roots in creativity as well as ingenuity tend to continue and advance in the present-day city of Mesa. Today, this dynamic place has a sophisticated light rail transit as well as numerous modern buildings like Major League Baseball ballparks and Mesa Arts Center. 

There are also many higher education facilities, such as Mesa Community College and Arizona State University. The latter is the biggest community college nationwide. That comes as no surprise as Mesa is one of the largest hubs for higher education in the U.S.

Furthermore, Mesa is home to the Phoenix-Mesa Gateway Airport. This is a large international airport in the Phoenix area located on the southeastern side of the city. 

As for the cultural heritage, this place offers an array of treasured sites to the local population and visitors too. When the locals don’t roam in the arts complex in downtown Mesa they explore old Hohokam ruins and historic sites. Some of the most popular cultural attractions include:

•  Mesa Grande Ruins
• Mesa Contemporary Arts Museum
• Mesa Historical Museum
• Park of the Canals
• Mesa Amphitheater

House hunters can find a wide range of housing options in this area, including rent-to-own homes. Keep reading to find out more.

1248 Listing Found in Mesa, AZ

Purchasing a House in Mesa

Prices of homes in Arizona tend to escalate. Mesa is no exception. The local housing market is quite robust and it follows this trend. The median home price reached $251,200 last year, which is an increase of about 12 percent.

However, there has been a decrease in the number of housing listings – from about 2,140 to 1,820. While homebuyers now have fewer options than in past years, there are still a lot of homes for sale on the market. 

Popular house styles in the city of Mesa include the Mediterranean, Spanish mission, ranch style, and pueblo revival. Single-family residences make up the majority of the local housing stock. There is also a steady supply of condos in Mesa. 

Not everyone can afford to buy a home. Most residents (about 60 percent) own houses in Mesa. When it comes to a rental, the average price is $1,263. The average rent for a one-bedroom home is $1,110/mo.

Popular Neighborhoods and Communities in Mesa

You can find a lot of accommodating communities and neighborhoods in this vibrant city. Listed below are the most popular ones:

• Arboleda and Mesa Northgrove – With the median household income of around $150,000 and luxury homes running over $1.5 million, these are one the wealthiest neighborhoods in the Southeast Valley.
• Mesa’s Southeast – This neighborhood features affordable housing. The most affordable homes are in the new Mulberry community in the vicinity of the ASU Polytechnic and Tech Corridor. 
• Northeast and Northwest neighborhoods are popular with families thanks to the low crime rate as well as plentiful restaurants and shopping centers. Thriving in leisure and business activities, Gilbert is one of the top communities here. It’s considered to be one of the Best Places to Live in America.

Rent to Own Houses in Mesa

Renting to own a house in Mesa is very popular as it gives greater flexibility than purchasing a property outright. It allows homebuyers to work on building a downpayment and repairing their credit rating. The local real estate market offers a decent number of rent-to-own options.

Your rent-to-own agreement should specify how and when the purchase price is determined. Tenants and sellers usually agree on a sales price when signing the contract. That price could be higher or lower than the current market value.

If it doesn’t work for you, you should go for a lease option that lets you determine the purchase price when your lease runs out. Keep an eye on the home prices on the local rental market. Home prices trend up in some markets, which is why some homebuyers may benefit from locking in the price based on the current market value. 

It’s best to consult a real estate agent when you’re negotiating home prices. If you want to do it on your own without an agent, consider researching comparable rent-to-own houses before negotiating the price with the seller. It’s worth it.

Living Expenses in Mesa

Compared to other cities in the United States, the cost of living in Mesa is in line with the national average. Living expenses are 1% above the national average. Here are some of the living expenses:

• Groceries – About 2% higher than the national average;
• Healthcare and utilities – 1% lower than the nation’s average and 8% more affordable than in the rest of the country;
• Transportation and housing – From 2 to 6% more expensive than in other American cities.

Although many expenses are above the national average, Mesa is not the most expensive place to live in Arizona. Rent, restaurant, and grocery are from 6.8-9.2% cheaper than in Phoenix.

Conclusion

Mesa is a perfect place not only for education and business professionals but also for retirees, students, and families. Spanning over 130 mi², this fast-growing city is home to various neighborhoods. You can find everything from master-planned new communities in the Southeast mesa to old historic houses in the city center.

Compared to Phoenix, Tempe, and Scottsdale, Mesa has a moderate cost of living and affordable housing.  Buyers pay approximately $120 per sqft. While this is not the most reasonably priced housing in Arizona, it is still under the country’s top areas which cost from $250 to $350 per sqft.