Phoenix Market Report
In this desert paradise … demand for rentals is heating up!
In the heart of the Sonoran Desert sits the “Valley of the Sun” … and this valley is golden for so many reasons.
Phoenix consistently ranks as one of the most affordable areas of the United States …
So naturally rents have outpaced national growth since 2016.
In 2018, rent growth in the greater Phoenix area was more than double the national average … but overall rent prices remained significantly lower than the rest of the country.
The 2017 tax law changes had far-reaching impacts for Phoenix and the other Sun Belt states.
People living in high-tax states on the East and West Coasts used to mitigate tax costs by deducting state and local taxes from their federal income tax.
With that option removed, those same people are moving to low-tax jurisdictions like Phoenix instead.
The resulting steady population growth has made Phoenix one of the most popular markets for multifamily investments.
Demand for rentals is strong and supply is low … so there’s nowhere to go but up!
And since the ‘08 market crash, Phoenix demand and pricing has been doing just that … steadily going up and up.
Industrial space in the metro area fills up fast, rents are rising in the office sector, vacancy numbers are healthy, and the retail market is BOOMING.
In 2018, major retailers Costco, Lowe’s, Sprouts, TJ Maxx, and Nordstrom Rack announced plans to build new stores in the metro area.
The following year, Phoenix saw employment gains at nearly five times the national rate. Major industries in the area include finance, biomedical, and software development.
The western part of the valley is a popular location for warehouse and distribution space. Major distribution centers for Dick’s Sporting Goods, SubZero, and REI, Inc. operate from the region.
The surge in population since 2017 has jumpstarted the revitalization of downtown Phoenix, with revamped buildings housing expansions of University of Arizona and Arizona State University.
When it comes to recreation and entertainment, Phoenix has something for everyone … professional sports teams, national parks, and all-around wonderful weather.
Explore the resources below to discover what opportunities await in this one-of-a-kind desert paradise …
- Investing in Houses and Small Multi-Family Properties in Phoenix
- Low Vacancy and No Deferred Maintenance with Build to Rent
Reports & Articles
Market Field Trips & Property Tours
- Coming Soon!
- P. J. Hussey & Associates, Inc. – Turnkey SFR, Multi-Family, Property Management, Construction
- Fourplex Investment Group – Fourplex Investment Properties
Clues in The News
- Arizona economy: ‘Once we get past the shock, recovery should be solid’ – April 23, 2020
- Mortgage rates near all-time lows – April 16, 2020
- ‘Arizona will lead,’ says Gov. Doug Ducey on reopening the economy and what’s next during coronavirus – April 14, 2020
- The hottest housing market of 2019 – December 18, 2019
- Net Lease Investment Up Nearly 40% in Phoenix – December 11, 2019
- Here are Arizona’s biggest economic development wins of 2019 – December 3, 2019
- Mesa takes next step for nation’s only inland port – November 5, 2019
- Report: Phoenix is the No. 1 migration destination – October 29, 2019
- Phoenix retail market healthy despite national struggles – October 21, 2019
- Where Buyers Are Cashing In! The Top 10 U.S. Markets for Flipping – October 14, 2019
- How the City of Phoenix is striving to become one of the most sustainable desert cities in the world – August 5, 2019
- Is Phoenix facing a potential affordable housing crisis? – July 31, 2019
- Solera Health expands its team and space in downtown Phoenix – July 25, 2019
- 2019’s Best & Worst Places to Rent in America – July 23, 2019
- Phoenix office market heats up as city leads U.S. in job growth – July 24, 2019
- Phoenix area named No. 77 most educated nationwide – July 23, 2019
- Verdigris Holdings bringing 210 jobs paying $150K to Valley – July 23, 2019
- Arizona lands $90 million to expand Interstate 17 north of Phoenix – July 22, 2019
- Visitors spent a record amount in Arizona in 2018, tourism office says – July 22, 2019
- Phoenix metro area has suddenly become a hotbed for prep basketball academies – July 19, 2019
- Phoenix overtakes NYC in Top 10 best cities for start-ups – July 18, 2019
- Multifamily Rent Growth Gets Serious – July 18, 2019
- These are the best employers in Arizona, according to Forbes – July 17, 2019
- Phoenix posts highest apartment rent increases nationwide in 2019, report says – July 15, 2019
- Arizona university leaders rank high on national compensation list – July 15, 2019
- Amazon’s $700M plan to retrain employees could benefit Arizona workers – July 15, 2019
- Multifamily Absorption Reaches 5-Year High – July 8, 2019
- A Nike manufacturing plant could bring 500 jobs to metro Phoenix’s west side – July 1, 2019
- Discount carrier Frontier Airlines adding Phoenix-Las Vegas service – June 25, 2019
- Sunbelt States Primed for Multifamily Investment – June 20, 2019
- Kuebix Announces Office in Phoenix, Arizona – May 9, 2019
- Aldi update: The latest on the discount grocery chain’s plans across metro Phoenix – April 12, 2019
- Downtown Phoenix’s Arizona Center: Its history and future development – April 8, 2019
- Home prices make smallest gains in nearly 4 years, but rents are hot – January 16, 2019
- How can we maintain a positive commercial real estate outlook? – October 10, 2018
- Rents continue to rise in Phoenix, according to new report – October 3, 2018
- Phoenix Real Estate Expert Says Home Buyers Should Act Quickly – January 5, 2018
- Phoenix job growth projected to double U.S. average – March 28. 2017
- Arizona leads construction growth forecasted in 2017 – October 28, 2016
- Scottsdale investor, Phoenix builder to finish 900-acre development – April 17, 2015