Are you looking to invest in Phoenix, AZ?
Phoenix has a great real estate market and plenty of wonderful neighborhoods. The investment opportunities are plentiful because this city offers superb quality of life. The combination of reasonable housing prices, numerous outdoor activities, and a solid job market sparks interest in Phoenix across the nation.
In fact, the PwC Emerging Trends in Real Estate report showed that Phoenix had some of the best real estate prospects in 2019.
In this blog, we will outline the top neighborhoods for investors. These areas have the most investment opportunities!
Chandler is an up and coming suburb in Phoenix. As an investor, investing in Chandler offers you a solid chance at receiving a nice return on your investment.
The city of Chandler has a great quality of life. Downtown Chandler features a historic town square, Dr. A.J. Chandler Park. Here, you’ll find galleries, boutiques, and restaurants.
A significant portion of this neighborhood’s growth comes from the influx of young professionals and families. Some experts even talk about a real estate market boom.
Tempe is another good investment option. The city’s proximity to other Phoenix communities makes it a desirable place to live.
Some residents love that Tempe is a hotspot for events and festivals throughout the year. For instance, you can enjoy the Arizona Marathon, the Dragon Boat Festival, and the Oktoberfest in Tempe.
Investors have many choices in Tempe. While North Tempe boasts a dense network of high-rise developments, South Tempe is more family-oriented. It has a more suburban setting with single-family homes and low-rise office buildings.
Since there are many young professionals who prefer short commutes to work, there’s a high demand for rental properties in this area. Additionally, the student body of the University of Arizona represents a considerable target group for rentals in Tempe.
#3: Desert Ridge
Desert Ridge is one of the largest master-planned communities in the state of Arizona. Upon completion, this neighborhood will serve more than 50,000 residents.
The most important area of Desert Ridge is City North. This mixed-use area features commercial and residential properties. The entire community of Desert Ridge close to the main logistic centers in Phoenix.
This high-end neighborhood’s housing mostly consists of deluxe condos. These homes have luxurious amenities, including gyms, swimming pools, and lounge areas. It’s a great choice for investors who are seeking desirable and upscale properties in Phoenix.
Arcadia is built on land that used to have citrus plantations and yards rich with fruit trees. The landscaping in Arcadia is in stark contrast with the dry landscape of the surrounding communities.
The quality of life in Arcadia is superb. You can find numerous shopping, dining, and entertainment options in this neighborhood. It’s a nice choice for families as the Scottsdale school district provides good educational opportunities.
Another benefit of Arcadia is its bicycle-friendly urban design. You can feel free to take your bike anywhere in the area. Also, there are a few hiking trails nearby which provide plenty of fun for anyone who enjoys outdoor recreation.
Glendale, a suburb of Phoenix, is Arizona’s fifth-largest city in terms of population. The historic Downtown District has numerous places for sightseeing and the city is home to popular festivals and events.
While the area has become more popular, the average property purchase prices have stayed reasonable. In fact, Glendale properties are some of the most affordable in the Phoenix Metro area given its location and amenities.
The local job market provides good opportunities. Some of the largest employers in Glendale include Wal-Mart, Conair Corporation, Tanger Outlets, Humana Healthcare, and Glendale Community College.
Investing in Phoenix, AZ
Now we’ll take a closer look at some of the top reasons you should consider investing in Phoenix.
Appreciation: On average, properties in Phoenix appreciate at high rates. When compared to other cities in Arizona, the appreciation rates can be as high as 50%.
Airbnb Potential: A lot of people visit Phoenix annually. As an investor, you can capitalize on this by creating an Airbnb strategy. Note that you need to apply for a short-term rental license.
Cash Flow: Many investment properties in the Phoenix Metro area provide a steady rental income. The average rental income hovers around $1,500 when you opt for a long-term rental strategy.
Profitability: Rental investing makes sense in Phoenix due to its great metrics and forecasts. For instance, the job market in the city has seen steady growth. This trend provides solid ground for real estate market profits. The thriving job market creates a demand for quality rentals in the area.
In a Nutshell: Investment Opportunities in Phoenix, AZ
Phoenix, also known as the Desert City, provides plenty of investment opportunities. As an investor, you could enjoy a steady income stream, long-term appreciation, and significant return on investment. Plus, the great number of annual visitors sets the right conditions for a successful Airbnb strategy.
When it comes to the best neighborhoods to invest in, there are many solid options. Some of the best Phoenix Metro area neighborhoods include Arcadia, Tempe, Chandler, Glendale, and Desert Ridge.
As with any investment, it pays to conduct as much research as possible. Determine your investing goals and see which Phoenix communities and rental strategies will work the best for your needs.