Looking for an ideal investment in Phoenix, AZ? The real estate market in Phoenix is turning out to be quite the investment option for both new and seasoned investors.
Phoenix has been experiencing a steady rise in population. This can be attributed to the stable, business-friendly environment created by the State of Arizona. Companies have been relocating their regional headquarters to Phoenix. Factors such as favorable regulations, growing economic sectors, and availability of talented manpower make Phoenix their number one choice.
As a result, many people are relocating from all over the country for new job opportunities. Families, especially those moving into the area and are looking for affordable houses to rent. This is all very good news for real estate investors!
What’s more, the city is a local, regional and international tourist attraction. Millions of people visit the city every year. As a prospective investor, you’ll also have to option to invest in short-term or vacation rental properties over traditional leasing.
Taylor Street Property Management has the real estate, market knowledge, and experience that you need to ensure the success of your investments. In this article, we will list some of the best areas available in Phoenix.
Best Phoenix Neighborhoods to Invest in
One of the hottest neighborhoods for a potential investor has to be Scottsdale. The neighborhood offers a variety of options from single-family homes for young families to apartment units that are quickly being scooped up by young professionals working in Phoenix.
On average, the neighborhood has very affordable properties. Best of all, the area boasts many exciting amenities including trendy restaurants, art galleries, golf clubs, and plenty of beautiful outdoor spaces to enjoy.
A significant percentage of the region's population growth consists of young families and professionals starting life. They are looking for affordable properties to either rent or own, and this is what makes Tucson a viable option for you.
People are always looking for properties that are more budget-friendly while still offer a lot of amenities. Tucson has proven itself to be a good option as the area has seen several planned communities being developed. Some of them include Gladden Farms, Dove Mountain, Saguaro Bloom, Rancho Del Lago and La Estancia.
Tuscon also offers a wide range of parks and recreational centers making it a great place for families and those looking to enjoy the outdoors after work and on weekends.
Downtown Phoenix is quite a popular neighborhood and prospective investors should be able to enjoy high market demand throughout the year.
The demographic of the area mainly consists of young professionals, interns, and students. The area also has quite a vibrant entertainment scene with several restaurants, bars, shops, and museums.
If you ask any Phoenix local, they will confirm that Arcadia is one of the finest places to live. A distinct feature of this neighborhood is the large parcels of land. Homeowners and tenants in this area also enjoy a lush landscape, wide sidewalks, and large citrus trees.
If you choose to invest in Arcadia, property available here generally consists of luxury homes, villas, and large mansions.
Tempe is home to Arizona State University (ASU). Students from the university make up the biggest portion of the demographic. As a prospective landlord, this is a long-term market that you can tap into. The large student population is always in search of available housing in the area.
The standout neighborhoods that you should consider investing in Tempe include Knoell Gardens, Evergreen, Duskfire, and
Several Fortune 500 firms and startups have also relocated or established a base here. As Tempe entices more young professionals and companies, the demand for space will also increase. Make sure you don’t miss out on the opportunity to buy an investment property in this booming area.
In a Nutshell: Phoenix’s Best Areas for Investing
Don’t be left out! Phoenix has been a go-to location for several real estate investors in recent years. With its broad range of properties, growing population, thriving tourist market, excellent amenities, and affordable housing, investors are spoilt for choice.
If you are considering Arizona to be the home of your next investment, you should consider buying in Scottsdale, Tempe, Arcadia, Tucson, or Downtown Phoenix. What’s more, if you need help managing your property consider hiring the services of a trusted property management company.
Taylor Street Property Management has proven to be a reliable partner and real estate service, provider. For answers to all your questions regarding investment opportunities in Phoenix, AZ, don’t hesitate to contact our reliable and trusted team of property managers today!