People choose to invest in Phoenix real estate with the intention to build wealth and receive regular cash flow. Phoenix Arizona, the USA’s fifth-most populous city is a prime location for investors looking to build their investment into a profitable venture over time.
Phoenix is not only a tourist attraction given its sunny climate and desert landscape but also a preferred residential area for residents. At Keyrenter Premier we believe Phoenix is a great place to invest in and below is some information on why we think so.
But first, we will go through what makes a great investment in the first place.
The Factors That Make Phoenix an Attractive Investment
Investors and other financial professionals look at Phoenix and see many investable qualities including:
In any business, cash flow is what shows the owner how well the business is doing. Rental income in Phoenix is higher than average, and investors can expect to enjoy healthy profit margins.
This is applicable for both long-term and short-term residents such as tourists. With this in mind, Phoenix already stands as an attractive investment location.
Property value appreciates over time given a variety of factors such as development or job opportunities.
Investors in Phoenix have enjoyed a few years of regular property appreciation. In fact, Phoenix is one of the top cities in the country for appreciation. Investors are made aware of these changes in real estate by local financial analysts and so you will be better informed when you invest in Phoenix.
Compared to other cities around the country, real estate in Phoenix is much more affordable and has been stable despite some price fluctuations. Meaning investors can enjoy a low point of entry with healthy returns.
What are the Best Areas to Invest in Phoenix?
Even though generally Phoenix is an attractive city, there are some particular neighborhoods that are sure to give investors the highest return on investment (ROI).
Glendale is one of the first neighborhoods that investors look into when investing in Phoenix. It is a safe area, has a friendly community, and property prices in Glendale are affordable for many investors.
Many educational and recreational amenities are also available, creating a family-focused community. Real estate investors in this area have many several single-family homes or apartments to choose from.
The neighborhood of Goodyear is a great choice for investors, Money.com ranked it as the 22nd best place to live nationally in 2019.
Goodyear is a prestigious business hub with a Nike manufacturing facility and a new Microsoft campus. Meaning the town has great prospects with incremental job growth, entertainment, and a convenient location.
Downtown Phoenix houses many young professionals and students who contribute to the environment’s vibrant community. This creates many investment opportunities as there is a need for residences and facilities like restaurants, cafes, and bars.
Chandler is Arizona’s fourth-largest town and a popular area for young professionals and families. Making it A great area for both investors and buyers.
Chandler has exceptional educational facilities with many community events, and social activities, and has a technology hub. Chandler hosts many concerts, carnivals, and several parks like the Desert Breeze Park for residents and tourists to enjoy some time away from their normal routines.
Given the recent developments such as new institutions of higher education and social amenities for the residents, Mesa has become a great area to invest in Phoenix.
Mesa has many different entertainment choices, events, and ease of access to the city. All of this contributes to Mesa being A great area for people to live and invest in.
This urban area attracts many young professionals as several Fortune 500 companies have their headquarters set up in Tempe. Students also make up a big portion of the Tempe residents given the presence of the University of Arizona.
Tempe is also close to parks like Tempe Town Lake, the Tempe Center for the Arts, and Tempe Beach Park. All these attractions create a great market for residential investments.
Garfield is a stone’s throw away from downtown Phoenix and has many community events, restaurants, and tourist attraction features such as the pyramid cottages and historical homes.
Generally, Arcadia has a high property value for the region. It has amenities that support family well-being such as prestigious schools, a safe environment, bicycle-friendly paths, and access to hiking destinations like the Camelback Mountain summit.
In a Nutshell: Best Real Estate Markets in Phoenix
Phoenix is a great city to invest in with many different and vibrant communities to choose from. Whether you’re interested in the vibrant and student-focused Tempe or the more laid-back Glendale, Phoenix has what every property investor needs.
Should you need a partner to help you diversify or create your investment portfolio and manage your properties then look no further than the property management professionals at Keyrenter Premier.
Contact us today to learn more about Phoenix investment opportunities!
At Keyrenter Premier Property Management, we include tenant screening with a 21-day tenant placement guarantee, rent collection, property inspection and maintenance, extensive property marketing, accounting services, expert eviction management and offers comprehensive lease agreements.