PHOENIX - If you are currently a renter now could be a good time to buy a home.

Forbes Magazine says Phoenix is one of the places where it is often cheaper to buy than to rent. Valley Realtor Russell Shaw says that could be true, provided you are looking in the right price range.

"You get down around 100 thousand and it's actually pretty close," he said. "It works out - especially with the tax benefit - it is cheaper and is a lower payment than you can rent the house for."

Shaw said that you have to check out the neighborhood, however, to know if owning is a better deal than renting.

"In a higher-priced home, let's say an eight or $900,000 home...it would be cheaper to rent because they don't rent for that much compared to what they're worth."