Just like its temperatures, the Arizona real estate market couldn’t be hotter in 2024. The Grand Canyon State has all the makings of the next great investment real estate hub. It has a thriving economy, a growing population, and increasing foreign investment. Not to mention, Arizona has low property tax rates, which help foreign investors keep more of their rental income.
Regardless of the property type or investment strategy, Arizona’s cities are experiencing robust growth, making them ideal for real estate ventures. Here’s a breakdown of 6 cities in Arizona that offer excellent investment potential:
As the capital and largest city in Arizona, Phoenix is a hotspot for real estate investment. Major industries, including tech and healthcare, continue to drive demand for housing, ensuring rental properties remain highly sought after. With a growing population, low property taxes, and strong job market, Phoenix offers both residential and commercial investment opportunities.
Known for its rich history and cultural heritage, Tucson is Arizona’s second-largest city. Tucson’s home prices are relatively lower than other parts of Arizona, offering an affordable entry point into the market. Its proximity to the University of Arizona keeps the demand for rental properties high, making it a great option for investors looking to invest near college towns.
Scottsdale is renowned for its luxurious lifestyle, upscale real estate, and world-class resorts. It's a prime location for those interested in short-term vacation rentals and high-end real estate. Investors can expect strong returns due to Scottsdale's consistent demand from tourists and retirees.
Chandler is one of Phoenix’s fastest-growing suburbs, thanks to its thriving technology sector. Known for its family-friendly neighborhoods, the city is home to several major tech companies, creating a robust demand for housing. Investors looking to capitalize on both residential and commercial opportunities will find Chandler appealing.
Tempe is home to Arizona State University (ASU), which brings in a consistent flow of students and faculty members looking for housing. The youthful population and growing job market also make Tempe a great option for rental property investors seeking strong rental yields.
Flagstaff, a vibrant mountain town in northern Arizona, draws tourists year-round with its diverse outdoor activities. Its booming tourism industry makes it ideal for short-term rentals. With rapid home price appreciation, Flagstaff stands out as a prime investment opportunity among the cities listed.
Arizona’s real estate market is booming, and these 6 cities offer a variety of investment opportunities for foreign nationals and domestic investors alike. From the tech-driven suburbs of Chandler to the luxury lifestyle in Scottsdale, there’s a city to match every investment strategy. Explore the possibilities of Arizona real estate investing with Waltz. We’ll help you finance your property using a non-U.S. citizen, investor-friendly loan.
All figures are accurate as of September 2024 and may change over time.* Sources for all city-related statistics:
Home price data: Zillow Housing Market
Rental price data: Zillow Rental Market Trends
Property tax data: Smart Asset Property Tax Calculator
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