As we watch our neighboring states struggle and delay to reopen to the public, we are also witnessing out of state restaurants and brewery concepts taking a closer look at Arizona for growth opportunities and as a safety net for the future operations. Arizona’s provides opportunities for growth, as the current in-migration caused by the exodus from CA is real and impactful.
Have you noticed the number of CA license plates on our streets? Recent demand has home prices up 14%, Covid cases continue to decrease, and it appears we are on the road to recovery. In fact, Wallethub released a report showing Maricopa County has 7 of the top 20 cities for “best bounce back”, with Gilbert at #2, Peoria #5, Chandler #7, Mesa #10, Scottsdale #12 , Tempe #15 and Glendale at #18.
The employment market continues to recover in September, as the latest jobs report shows that the national unemployment rate has fallen to 8.4% while Arizona is already below 6% during our normal seasonal unemployment. The No. 2 city to find a new job in 2020 is Scottsdale, Arizona, according to WalletHub. Jobs site Glassdoor lists 67,809 open positions in the city, particularly in high-growth (and high-paying) industries such as health care, computer software and information technology.
Arizona was already an extremely popular place to relocate. How much more attractive does it look now?!
The high cost of living and heavy traffic is driving residents from California. In comparison, Arizona’s relatively low cost of housing is especially attractive to families. And with highways fairly free of traffic Arizona offers a smoother commute than California metro areas.
Los Angeles is one of the outbound hotspots in the state. It is estimated to live comfortably in LA you need to earn at least $136,207. Compare that to the estimated cost of living in a metro area like Phoenix which is only $48,876. You can see why moving to Phoenix is a popular decision right now.
Colorado residents are also fleeing their state for the dry deserts of Arizona. 18.50% of Colorado residents declared their migration was based on a need for a more viable retirement location. With low cost of living, retirees are flocking to Arizona from a costlier Colorado.
What about young, urban populations like Denver? While retirement may not be a reason for leaving, high cost of housing including skyrocketing rent costs are driving young people out of the Mile-High city.
Young professionals who wish to start a family are attracted to Arizona’s high-quality housing at low cost. Imagine twice the square footage for half of Denver’s prices.
While Texas is experiencing an economic boom, that success has consequences. Increasingly bad traffic and a rising crime rate are all consequences of prosperity that make Texas less appealing.
Arizona’s economy may not be growing, but it is stable. This means a lot to those in Texas who know too well the negative sting of economic spikes. Stable is good.
Metro areas like Dallas are experiencing urban sprawl, which is becoming less attractive to young professionals. As Texas cities like Dallas become more dense, young people are seeking out the still open spaces of Arizona to start their families.
Florida and Arizona have a lot in common as meccas for the retirement community. But Arizona is gradually winning out with drier weather and a less annoying tourist population.
Florida’s humidity vs. Arizona dry heat is a debate. But for many the swampy Southern air of Florida is too much to bear. Add to that a continuous flow of tourists from around the world all year round to crowd out residents. In Arizona, you only have that slight uptick of snowbirds during the winter months.
It’s not hard to understand why so many are leaving Illinois for Arizona. The high taxes and brutal winters are a one-two punch for most residents. While outbound moves increase, the cost of housing never seems to go down.
A reasonably priced brand-new house in Peoria, Arizona seems like a much better choice than the aging overpriced bungalow in an Illinois suburb. And in Arizona, you don’t want to shovel the driveway come December.
Chicago residents have it the worst with impossible parking situations and city streets narrowed by snowdrifts during the winter. Fed up Chicagoans are abandoning their costly two-flats for more room and more warmth in sunny Arizona cities like Mesa and Surprise.
Cities like Seattle are attracting newcomers with great job opportunities, but as the world continues to operate more remotely, the cost of living in Seattle is losing its appeal to young professionals.
Many are seeking out low cost of living options in college towns like Tempe, where they can continue to earn well working remotely while enjoying the college campus lifestyle in warmer weather.
If you are even thinking about relocating to the Phoenix Metro area, I urge you to give me a call, send me a text, send me an email, just get in touch with us. We are here 7 days a week, evenings and weekends. We will get you taken care of when moving to the Phoenix Metro area.
Sheryl (Shey) Willis, CNE
GOARIZONA REAL ESTATE
USAHomebids State Advisor
Zillow Premier Agent
Redfin Partner Agent
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Sheryl Willis, Go Chandler and eXp Realty does not engage in or condone activities which illegally discriminate on the basis of race, color, religion, sex, age, national origin, disability, familial status or any other protected classification under federal or state law.