Are you thinking about investing in Arizona rental properties?
Thanks to recent data nuwireinvestor.com, we know that Phoenix ranks #6 as one of the best markets in Arizona for real estate investing.
Phoenix has been a top relocation destination over the last two years, especially for tenants from California, who have been eager to escape rising taxes and the high cost of living in the Golden State.
Besides offering good weather and plenty of things to see and do in the local area, Phoenix also offers a strong local economy, and plenty of job opportunities as most companies in the area are hiring now, or planning on hiring in the coming months.
As of October 2021, the average rent in Phoenix AZ was $1,408 per month for an 805 square foot apartment. This is still affordable when compared to rental properties in California, but due to the demand for rentals in Phoenix, rents are predicted to continue rising in 2022.
Thanks to recent data from azbigmedia.com, we know that Phoenix ranks among the top 5 for biggest rent increases in the United States and this isn’t expected to change anytime soon as a recent US Census Bureau report indicated that close to 291 people relocate to Phoenix each day.
For investors, the demand for rental properties in Phoenix is a win-win, but with the average home price in Phoenix having increasing by 13% in the last year, savvy investors are eager to grab available properties now before prices increase even more in the coming year.
Once you invest in your first Phoenix rental property, hiring a local property manager like GoldenWest Management makes the difference because, we know the rental market better than anyone and will rent your property for top dollar.
Our team of experts specialize in managing single family and multifamily properties in Phoenix.
To learn more about the services that we can offer you, contact us today by calling (866) 545-5303 or click here to connect with us online.
