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  • Writer's pictureToni Therrien

Why you should be excited to invest in Real Estate in Arizona!

According to the US Census, Arizona is one of the top 10 fastest growing states. The weather, the scenery, and the job opportunities inspire people to move here at a rate of 11.8% per year. We also have a large tourist and snowbird population. Now, with large corporations like DoorDash moving their headquarters here in 2021, there is a lot of opportunity for young families. Whether you're looking to invest in properties to rent out long-term, or for short-term rentals, Arizona is a great place invest.

Let's start with the traditional long term rentals. People are moving from out of state in droves, no longer tied to a location thanks to the boom of work-from-home opportunities. Spending 80% of your time in your home is the "new normal," therefore, people look to states like Arizona where they can get more home for their buck. Rental inventory is currently low, so it's a good time to get a solid price for your rental.

Short term rentals are also a great investment.

Scottsdale offers over 200 golf courses, many considered luxury courses, attracting the active snowbird. Snowbird season starts in October and doesn't end until May or June. These renters are willing to pay a premium to be near not only golf, but upscale shopping and some of the best restaurants in all the United States. WestWorld of Scottsdale is a major draw hosting many horse shows including the Desert Classic All Arabian Horse Show. The Barret Jackson Car Auction is attended by out of town guests as well. The Phoenix Open is the largest golf tournament in Arizona, and one of the biggest draws for tourists, offering another opportunity to charge a premium for your short-term rental.

Glendale is a booming area for consistent short term rental income. Home of the Westgate Entertainment District, on any weekend you can see a concert or dueling pianos, a car show, and you can even ice-skate in the winter. Gila River Arena is home to the Coyotes, Arizona's hockey team. They also host a wide array of events such as the Harlem Globetrotters, famous comedians, and pop concerts (Justin Beiber and Billie Eilish are on the calendar for 2022). State Farm Stadium, home of the Cardinals, has hosted two Super Bowls. Out of state visitors are sure to flock to this stadium for major football games. The stadium also hosts Supercross events, Monster Jams, and in 2022 will host a concert featuring Def Leopard, Motley Crue, Poison, and Joan Jett.

Tempe is also a great place to invest whether you're focusing on long-term rentals for college students, or short-term rentals for event goers. Tempe has a thriving artist community and hosts many events such as the Tempe Arts Festival, which attracts over 225,000 people each year. The ASU Sun Devils are ranked in the top 25 and attract college football fans from across the country.

As you can see, investing in Arizona Real Estate provides endless opportunities. Where to buy depends on your goals, which is why an agent experienced in investment properties is so important!

Click here to connect with Polly Mitchell Global Real Estate agents with the experience and know-how to guide you to your dream investment property.

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