Why Phoenix Arizona is a good investment, place to live, and why people are moving here!

Why Phoenix Arizona is a good investment, place to live and why people are moving here!!

Phoenix is located in the heart of the fastest growing and most dynamic metro area in the country. As of the Census Bureau’s 2017 population estimates, metro Phoenix had 4,737,270 residents, making it the 12th largest metro area in the nation by population. It is also one of the fastest growing major metro areas, gaining nearly 400,000 residents from 2010 to 2015, and more than 1.3 million since 2000. The population of the Phoenix metro area increased by 45.3% from 1990 through 2000, compared to the average United States rate of 13.2%. This is why Phoenix Arizona is a good place to invest, live, and why people are moving here!!

The Phoenix metro area has historically been the center of the state’s economy. As with the state of Arizona, the area relied on the 5 C’s (copper, cattle, climate, citrus, and cotton) for its economic growth and expansion. A thriving job market is a driving force behind the city’s renaissance, with high-income positions being created in the metro area. From July 2016 to July 2017, 52,000 jobs were added in the Phoenix metro area, with 11,900 of them in the medical and education fields.[1] Money Magazine named Phoenix No. 3 among the country’s hottest cities for tech jobs in 2017, and Intel has announced that it intends to invest $7 billion in suburban Chandler, creating 3,000 new jobs where it already employs 11,300 people.[2] Other major employers planning to add jobs in Phoenix include JPMorgan Chase, which is adding 4,000 jobs, State Farm, UPS, ADP, and Santander Consumer USA.

Apartment Rents Climb Faster in Metro Phoenix than Anywhere in the U.S, click here to read

Rental demand is being aided by strong population growth in the Phoenix metro area. Besides professional families, retirees continue to move to Phoenix in considerable numbers, and that demographic is expected to grow significantly. A study by the National Multifamily Housing Council and National Apartment Association found that the area will need 150,302 new apartments by 2030. That is a 38% increase over the current number. In early 2013, Forbes ranked the Phoenix metro area as the 8th fastest-growing major city in the United States, after Austin, Houston, Dallas, Raleigh, Salt Lake City, Seattle, and Provo. By 2020, it’s forecasted that Phoenix will become the 4th most populous city in the US, and by 2030, the US Census Bureau estimates its population will reach 2.2 million with a metro area that’s home to 6.3 million.

  • Population, job, and rental rate growth all outpacing national average
  • Ranked 5th in the U.S. for high-tech job growth and Top 10 fastest growing economies
  • 3rd largest labor pool in the West

They just said the other day 200 people moving here per day, and then there is cranes everywhere!

Real Estate Appreciation Data For Q4 2018 (Sept-Dec 2018) Arizona, click here for website

Past quarter: 0.97%
Past year: 9.06%
Past 5 years: 46.85%
10 years:14.09%
20 years: 122.53%
30 years:202.27%
since 1975:  596.27%
Avg Annual ROA: 5.08%
Except for the average ROA, rates of appreciation shown are cumulative for each period. Calculations are derived from the FHFA Housing Price Index. Data is considered accurate but not warranted.

Sample Calculation for how you can make major money in Arizona just by putting a roof over your head!!

Here are some calculations on a median home price of Scottsdale AZ $479,000 (at the time of posting this blog)
A sample of appreciation: (Results in the past 8 years have been amazing and not typical click here for website stats)
House = $479000
Down Payment typical Sample 10% = $47900
5 year appreciation = 46.85%
Home price in 5 years = $703,411 (2024)
Home equity increase $703,411-479000 = $224,411
You just made $224,411!!!!!  paying your own rent, and paying your mortgage down at the same time with some tax savings on interest.
Why not get a renter to pay the mortgage for you as well?  We’re getting to a point now where wages, cost of living, etc are getting to a point in Arizona where we don’t know what’s going to happen.  As for the next year, we’re fine!  READ my other blogs on my website as I post frequently about this as well.

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