Looking for an ideal investment in the Phoenix metro area? The real estate market in every Phoenix neighborhood is turning out to be quite the investment option for both new and seasoned investors.
The Phoenix area has been experiencing a steady rise in population making it the fourth largest city in the country. 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. It is also home to the NHL’s Phoenix Coyotes and the NFL’s Arizona Cardinals.
As a result, many people are relocating from all over the country to these Phoenix neighborhoods 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 neighborhoods available in Phoenix.
Best Neighborhoods in Phoenix to Invest
Scottsdale
One of the best 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, downtown Scottsdale as well as old town Scottsdale and North Scottsdale, boasts many exciting amenities including trendy restaurants, coffee shops, art galleries, and plenty of beautiful outdoor spaces to enjoy – especialy if you’re looking for a golf course.
Tucson
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 in the Phoenix area, and this is what makes Tucson a great neighborhood to invest in.
People are always looking for properties that are more budget-friendly while still offer a lot of amenities. This part of town 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
The Phoenix downtown area is one of the best neighborhoods in Phoenix and prospective investors should be able to enjoy high market demand fromt the city center throughout the year.
The demographic of this neighborhood mainly consists of young professionals, interns, and students. The area also has quite a vibrant downtown scene with restaurants, bars, coffee shops, and museums such as the Arizona Science Center and the Phoenix Art Museum.
Arcadia
If you ask any Phoenix local, they will confirm that Arcadia is one of the finest places to enjoy city life. A distinct feature of this up and coming neighborhood is the large parcels of land. Homeowners and residents in this area also enjoy a lush landscape, wide sidewalks, large citrus trees and many golf courses and restaurants.
If you choose to invest in Arcadia, property available here generally consists of luxury homes, villas, and large mansions.
Tempe
Tempe is home to Arizona State University (ASU). Students from the university make up the biggest portion of the demographic of this college town. 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, and Duskfire.
Meyer Park
Several Fortune 500 firms and startups have also relocated or established a base in this master planned community. As Tempe entices more residents and companies to this urban village, 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 Neighborhoods 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!
