PHOENIX, AZ
Phoenix has several desirable characteristics which make it an ideal market for multi-family investments.
1) POPULATION GROWTH:
Phoenix has been among the country’s fastest-growing cities for years, according to U.S. Census Bureau data — and it’s expected to double in size by 2040, up from nearly 1.7 million people right now.1
2) JOB GROWTH:
Metro Phoenix has finished at the top - again - in a national study that ranks counties by their ability to attract and retain high-quality workers. 2
3) INCOME GROWTH:
In the latest three-year recording period, Arizona’s median household income increased from $56,818 to $65,450. Arizona is fifth in the nation for the dollar amount increase and fourth for percent increase. 3
4) RENT GROWTH:
From 2017 to 2020, Phoenix has experienced a 10.5% rental rate CAGR (Compound Annual Growth Rate).1
5) PERCENTAGE OF RENTERS:
Phoenix experiences a higher than average rental mix with 46% of its population renting vs. owning homes. 1