What Are the Best Areas for Rental Income Properties in AZ?

Arizona resort with pool during sunset

Arizona is one of the best states to invest in when it comes to destinations that take full advantage of the natural beauty around them. The fact that sale prices for Arizona homes continued to grow even when the real estate market was rocked by Covid-19 is a testament to how much interest there is.

Remote workers and self-employed individuals are looking for their perfect paradise to set up shop in, and many are looking at Arizona. The areas they’re exploring? Mesa, Glendale and Phoenix. These cities are in the sites of potential buyers and renters wanting a change of pace.

Mesa – Phoenix’s Little Brother

Mesa is an amazing city that focuses on providing the best community possible for families and businesses to grow within. The city boasts some of the top ranked public schools in the state across all levels of education. Franklin At Brimhall Elementary School, Franklin Junior High School and the Mesa Academy for Advanced Studies bring the best in public education directly to the Mesa area.

Pair this with median sale prices of $285-350k depending on neighborhood and it’s easy to see why so many families choose to start their roots in The Grand Canyon State. Prices are up 26-32% year-over-year for Mesa neighborhoods and still rising. Getting ahead of the pack of snowbirds coming for winter can mean even more gains as we ride the popularity spike.

Glendale – The Rising Star of Arizona

As far as Arizona real estate goes, a vast majority of the lucrative cities are in the greater Phoenix area. Glendale is no exception being less than 10 miles outside of downtown Phoenix. The close proximity to the big city makes it perfect for families who want access to everything a metro has to offer while still being able to come home to a quiet neighborhood.

Glendale homes are also close to some of the richest history in Arizona that are protected and preserved by the communities. It’s part of how Glendale has seen steady growth over the years with current median sale prices at $284k and average rent over $1,200.

Phoenix – City Living Meets Natural Beauty

Phoenix was originally designed to be made up of different city hubs to have multiple smaller areas flourish rather than one central location. The times have changed though, and Phoenix is keeping up with them. As new zoning law changes pave the way for more development downtown, Phoenix is catching the eye of bigger and bigger companies every day as a lucrative option for expansion.

Employment and population in Phoenix have been rising over the last five years, with a large boost from remote workers looking to escape high costs of living found in California. Now that the dust is settling, more families are able to explore Phoenix and take advantage of affordable living. Median sale prices are showing $291k, an amazing value for the location.

Get Started in Arizona With the Potempa Team

The fair prices currently available aren’t around to stay. Increased investment interest along with families waiting for a safe chance to move have created the beginnings of the next hottest real estate market around. Don’t waste another minute, let our team of local mortgage experts break down what’s available both home and lending wise to see just how easy a home purchase can be.

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