Why Phoenix Arizona is a good investment, place to 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!
