Though it doesn’t have any catchy songs inviting beachgoers to soak up the sun or beckoning ambitious creatives to “make it here and make it anywhere,” Arizona has its share of endearing qualities. Arizona’s population is growing by the hundreds each day with new arrivals from other states. From April 1, 2020 to July 1, 2021, Arizona experienced a 1.7% increase in population.
If you’re thinking about moving here, now’s the time. Here’s why fellow Americans are fleeing coastal cities to move to the country’s Sunbelt.
You Can Make More (and Keep More) Money Doing Business in Arizona
As one of the most business-friendly states in America, Arizona is the place to be to operate a business primed for growth. Other than accessing a diverse pool of talent, businesses benefit from commerce-friendly regulations and generous tax credits. Arizona is outfitted with major transportation hubs that could lead to improved production, delivery times, and higher volume sales. Additionally, entrepreneurs from the west coast, midwest, and northeast are quickly discovering the benefits of Arizona’s lower cost per square footage for commercial properties.
Get More for Your Money
It’s true that you don’t always get what you pay for. In states with a higher cost of living, such as California, Illinois, and New York, where housing prices continue to increase, many residents look around at the result of what they pay for and find themselves underwhelmed. The Sunbelt is attracting new residents from other states for its spacious housing options, affordable land for sale, and diverse employment opportunities. Between larger home sites and larger existing homes, Arizona offers more in terms of value for your money.
Speaking of Jobs, We Have Plenty
High rent and mortgage costs combined with a competitive job market leave residents stressed in states like New Jersey, Illinois, and California. Furthermore, job growth in more populous states took a downturn during and after COVID-19. In the National Association of Realtors’ (NAR) 2022 Housing Market Hidden Gems report, job growth in Arizona has remained stable despite the pandemic. For people moving here, this means greater confidence in a market that stands strong during extreme economic, national, and global changes.
Live, Explore, Retire – It’s All Here in The Grand Canyon State
Between the warmer climate, breathtaking views, wonderful people, and amazing communities, you can use pretty much any excuse to move to Arizona (and people are). The primary motivators behind the move include to retire in a warmer place, have a better quality of life, and better professional options. Since the pandemic new residents understand the importance of being near family and, with the ability to get larger lots and homes for substantially less than other states, are taking advantage of the opportunity to own or build a larger home for the same price or less than their home in another state.
Already Packing? We Understand
Overall, Arizona has about a million more residents than it did in 2010, with the total population expected to hit 8.5 million by 2030. If you’re going to be among the newcomers, now is the time to make a move. Whether you’re in the market for a conventional loan on an existing home or want to build your future in rural Arizona with a USDA loan, we’re your Arizona mortgage lending experts. Contact Potempa Team today to start turning possibility into reality.