/ Modified aug 5, 2016 7:42 a.m.

Study: Many Tucson Renters Can Afford to Buy Homes

National Association of Realtors study shows factors that may keep people from buying.

House, Housing, Real Estate spot

Nearly one-third of Tucsonans who rent can afford to own, a study from the National Association of Realtors said Thursday.

The study shows that a family making $47,492 a year can afford a median-priced home, assuming a 3 percent down payment.

That may mean there are other factors keeping Tucsonans from buying.

“It could be that there are young people who are not yet ready to settle down and put roots," study author Danielle Hale said "It could be that they haven’t yet saved up for a down payment, or student loan debt is an issue."

Hale said a lack of job opportunities does not appear to be a problem in Tucson.

Her study's data show Tucson's job market grew by 4.2 percent in the past year. The U.S. average was 1.6 percent.

By posting comments, you agree to our
AZPM encourages comments, but comments that contain profanity, unrelated information, threats, libel, defamatory statements, obscenities, pornography or that violate the law are not allowed. Comments that promote commercial products or services are not allowed. Comments in violation of this policy will be removed. Continued posting of comments that violate this policy will result in the commenter being banned from the site.

By submitting your comments, you hereby give AZPM the right to post your comments and potentially use them in any other form of media operated by this institution.
AZPM is a service of the University of Arizona and our broadcast stations are licensed to the Arizona Board of Regents who hold the trademarks for Arizona Public Media and AZPM. We respectfully acknowledge the University of Arizona is on the land and territories of Indigenous peoples.
The University of Arizona