The state of Arizona has a population of over 7 million and an average property price of $356,629. With a lower real estate median compared to other states, investors can capitalize on Arizona's lower upfront costs.
Arizona is known for its consistently warmer climates and desert landscapes. Its real estate market is one of the top-performing ones in the country, as its home value and rent medians surpass the national average.
Its thriving commercial markets include aerospace, manufacturing, healthcare, finance, and film/media. With more than 1,200 aerospace companies, manufacturing headquarters for global brands like Honeywell, and 300 days of sunshine that's ideal for filmmaking, Arizona excels in these business sectors.
Arizona has 254 cities, and its state capital, Phoenix, is a leading U.S. metro. Downtown Phoenix has significant population and economic growth, contributing to an increase in home values and rental prices.
Other cities like Tuscon and Scottsdale are also showcasing strong real estate growth. Tucson is the second most populous city in Arizona and home to the University of Arizona, attracting long and short-term rentals in the area for students.
Scottsdale is a sought-after location for luxury real estate due to its upscale single-family homes, golf courses, and upper-class residents. This city can yield high returns for investors due to the city's demographic wealth and popularity.
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