What cities do you like to invest in? Is Phoenix on your list? If not, here is why my hometown should be on your list of investments!
Phoenix is a hot market (literally and figuratively). It’s rare that we can find an area that has good cash flow and equity, and so far, our investments have had both. There are many factors that contribute to this:
1. In the past year:
Phoenix leads the nation in rent growth at 23.9%
Very diverse workforce with 125k jobs added to Phoenix in 2021. Strong labor market, particularly in high-wage industries will support area rent growth.
Phoenix ranked #3 in net migration of millennials and millennials made up 23% of the population
Arizona was #4 in population percentage growth and #3 in population numeric growth.
2. In the past decade:
Phoenix metro population growth in the past decade has been 22%
Arizona is projected to make #7 for tech job growth
I also enjoy living here with my family, and it’s great to have local presence or “boots on the ground” with the properties I manage. If you’d like to know more about the Phoenix Market, let me know! I’d be happy to discuss. I may just convince you to move here too!
Yardi Matrix > Matrix Multifamily National Report-November 2021