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Phoenix

Phoenix is the capital of Arizona and is located in the south-central part of the state, falling within the northeastern regions of the Sonoran Desert. The city has a population of over 1.6 million, making it the most populated city in the State of Arizona and the 5th most populous city in the United States. The city is expected to experience population growth that is well above the national average thanks to the strong net migration. This, along with the fact that the percentage of the population under the age of 44 is high, boosts economic activity in Phoenix. And with around 47.2% of residents living in rental properties rather than owning their own homes (according to NeighborhoodScout), investing in a Phoenix rental property is a great option.

Phoenix is not only the capital of Arizona, but with a diverse and strong economy, it’s the state’s economic center too. The Phoenix rental market will benefit from the fact that employment growth in the coming years will be twice the national growth rate. This is likely due to the continuing trend of major companies relocating their offices to Phoenix from more expensive cities. These companies can find more affordable real estate in the city than in other major metropolitan areas around the country. A leading industry in Phoenix is tourism. The city welcomes more than 10 million visitors who come to enjoy the major attractions like the Desert Botanical Garden and the various hiking trails and national parks. This provides ample real estate investment opportunities in the Phoenix short-term rental market. Other major industries include manufacturing, technology, and service industries.

The Phoenix real estate market is one of the top 3 markets in the Western Mountain Region of the US according to the annual PWC real estate report. Based on the report, activity is strong in all real estate sectors. However, the affordability for single-family homes is down, while housing development is up, which should balance the Phoenix housing market in the near future. And because it is affordable compared to other major population centers, Phoenix is actually one of the best places to invest in real estate.

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Phoenix  Real Estate Investment Performance
Facts and Market Trends in Phoenix
Homes For Sale2,932
Airbnb Properties437
Rental Properties7,954
Traditional Vacancy rate6.50%
Airbnb Occupancy Rate62.22%
Mashmeter66.82%
Median Price$394,855
Median Rent Price$1,669
Price/sqft$199
Median Days on Market51
Price to Rent Ratio21.8
Average Cap Rate
Airbnb3.28%
Traditional1.36%
Average Rental Income
Airbnb$2,598
Traditional$1,510
 
Median Household Income$43,960
Population1,626,078
Transportation in Phoenix
41 / 100
Car-Dependent
36 / 100
Some Transit
52 / 100
Bikeable
Phoenix  Rent Prices
RENTAL STRATEGY STUDIOS 1 ROOM 2 ROOMS 3 ROOMS 4 ROOMS
Airbnb$1,684$1,759$1,972$2,336$3,026
Traditional$2,056$884$1,165$1,453$1,738
Phoenix, AZ - Homes for Sale - Newly Listed
Investment Properties for Sale
$299,900
MLS 6005370
3542 W CROCUS Drive
Phoenix, AZ 85053
North Mountain
Single Family Residential
4 beds2 baths1,918 sq.ft.
CAP RATE
Trad. 1.82%Airbnb 2.17%
Investment Properties for Sale
$265,900
MLS 6005339
2471 W LEWIS AND CLARK Trail
Phoenix, AZ 85086
North Gateway
Single Family Residential
3 beds2 baths1,230 sq.ft.
CAP RATE
Trad. 2.08%Airbnb 0.53%
Investment Properties for Sale
$379,900
MLS 6005289
2820 E LAUREL Lane
Phoenix, AZ 85028
Paradise Valley
Single Family Residential
3 beds2 baths1,902 sq.ft.
CAP RATE
Trad. 1.49%Airbnb 2.68%
Investment Properties for Sale
$259,000
MLS 6004576
2828 W VILLA RITA Drive
Phoenix, AZ 85053
Deer Valley
Single Family Residential
3 beds2 baths1,734 sq.ft.
CAP RATE
Trad. 2.35%Airbnb 3.05%
Top Performing Phoenix Properties
Investment Properties for Sale
$349,900
MLS 6002068
16209 N 9TH Place
Phoenix, AZ 85022
North Mountain
Single Family Residential
3 beds2 baths1,624 sq.ft.
CAP RATE
Trad. 0.94%Airbnb 7.95%
Investment Properties for Sale
$338,000
MLS 6005533
1001 E GRISWOLD Road #1
Phoenix, AZ 85020
North Mountain
Single Family Residential
3 beds3 baths2,072 sq.ft.
CAP RATE
Trad. 0.67%Airbnb 7.94%
Investment Properties for Sale
$87,000
MLS 5992845
3828 N 32 Street #228
Phoenix, AZ 85018
Camelback East
Condo/Coop
1 beds1 baths638 sq.ft.
CAP RATE
Trad. 1.86%Airbnb 7.89%
Investment Properties for Sale
$335,000
MLS 5987180
2157 W KATHLEEN Road
Phoenix, AZ 85023
North Mountain
Single Family Residential
3 beds3 baths2,094 sq.ft.
CAP RATE
Trad. 0.53%Airbnb 7.86%
Recently Sold Homes in Phoenix, AZ
Investment Properties for Sale
$859,000
MLS 5985204
322 N 12TH Street
Phoenix, AZ 85006
Central City
Multi Family
0 beds0 baths512 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$335,000
MLS 6000113
2242 E TAYLOR Street
Phoenix, AZ 85006
Central City
Multi Family
0 beds0 baths0 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$270,000
MLS 962640
On Lot You Choose in Twin Palms
Phoenix, AZ 86426
Paradise Valley
Single Family Residential
3 beds2 baths1,534 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$375,000
MLS 6003904
925 W WILLETTA Street
Phoenix, AZ 85007
Encanto
Single Family Residential
4 beds2 baths1,923 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Property Value Changes and Real Estate Appreciation in the Phoenix Housing Market

Historical real estate appreciation has placed the Phoenix housing market among the top markets for growth in the US. Since Q1 of 2000, Phoenix properties have experienced a total appreciation of 107% with an average annual growth rate of 3.9% (according to NeighborhoodScout). Zillow forecasts a 5.4% appreciation of local property values over the next year. So, buying a Phoenix investment property now - while it’s affordable - will be a smart move and will allow you to enjoy appreciation in the coming years.

Real estate investors should keep in mind that the Phoenix real estate market is currently a hot seller’s market. This is mostly due to the tight housing inventory which most major cities across the US are suffering from. Still, property prices have not been driven up to unaffordable ranges, which makes the market a great entry point for beginner investors nonetheless.

Phoenix, AZ Top Multi Family Homes
Investment Properties for Sale
$139,000
MLS 5999138
107 W MARGUERITE Avenue
Phoenix, AZ 85041
South Mountain
Multi Family
0 beds0 baths0 sq.ft.
CAP RATE
Trad. 4.81%Airbnb N/A
Investment Properties for Sale
$170,000
MLS 5996976
1823 E WOOD Street
Phoenix, AZ 85040
Central City
Multi Family
0 beds0 baths0 sq.ft.
CAP RATE
Trad. 3.37%Airbnb N/A
Investment Properties for Sale
$198,000
MLS 5960683
5810 S 6TH Street
Phoenix, AZ 85040
South Mountain
Multi Family
0 beds0 baths0 sq.ft.
CAP RATE
Trad. 3.27%Airbnb N/A
Investment Properties for Sale
$199,000
MLS 5935441
419 N 20TH Street
Phoenix, AZ 85006
Central City
Multi Family
0 beds0 baths0 sq.ft.
CAP RATE
Trad. 2.89%Airbnb N/A
Homes Below Median Price in the Phoenix, AZ Real Estate Market
Investment Properties for Sale
$349,900
MLS 6002068
16209 N 9TH Place
Phoenix, AZ 85022
North Mountain
Single Family Residential
3 beds2 baths1,624 sq.ft.
CAP RATE
Trad. 0.94%Airbnb 7.95%
Investment Properties for Sale
$338,000
MLS 6005533
1001 E GRISWOLD Road #1
Phoenix, AZ 85020
North Mountain
Single Family Residential
3 beds3 baths2,072 sq.ft.
CAP RATE
Trad. 0.67%Airbnb 7.94%
Investment Properties for Sale
$87,000
MLS 5992845
3828 N 32 Street #228
Phoenix, AZ 85018
Camelback East
Condo/Coop
1 beds1 baths638 sq.ft.
CAP RATE
Trad. 1.86%Airbnb 7.89%
Investment Properties for Sale
$335,000
MLS 5987180
2157 W KATHLEEN Road
Phoenix, AZ 85023
North Mountain
Single Family Residential
3 beds3 baths2,094 sq.ft.
CAP RATE
Trad. 0.53%Airbnb 7.86%
Phoenix Airbnb Growth and Regulations

Because the city sees so many tourists annually, it’s no surprise that Airbnb growth is massive in the Phoenix housing market. Airbnb Phoenix hosts received the highest number of guests in the state in 2016, bringing in a revenue of $4,112,000.

Luckily, Airbnb real estate investors can benefit from this rental strategy in the city as the practice of renting out non-owner occupied properties is legal in Phoenix. In fact, Arizona Airbnb regulations state that all local municipalities must allow short-term rentals and place no limit on the number of Airbnb investment properties an investor can own and operate in the city. There is also no cap on the number of days an Airbnb rental property can be occupied by guests, which is a common regulation in many cities across the US.

As an Airbnb hosts, you may have to apply for a license depending on your Airbnb rental property listing, so make sure to check with the city codes. Airbnb and other vacation rental websites are responsible for collecting taxes on bookings and remitting them to the state. Keep in mind that while the practice is legal, Homeowners Associations may still legally ban short-term rentals in their complexes.

Phoenix, AZ Top Airbnb Homes
Phoenix Airbnb
$74 per night
Entire home/apt · 1 bed
Charming Coronado Guest House
906
Phoenix Airbnb
$81 per night
Phoenix Airbnb
$66 per night
Entire home/apt · 1 bed
Coronado Private Casita
460
Phoenix Airbnb
$67 per night
Phoenix, AZ Homes for Rent
Investment Properties for Sale
$3,000
MLS 6004989
347 E HAYWARD Avenue
Phoenix, AZ
Alhambra
Single Family
4 beds2 baths2,115 sq.ft.
Investment Properties for Sale
$1,350
MLS 6004997
1633 W MISSOURI Avenue #9
Phoenix, AZ
Alhambra
Townhouse
2 beds2 baths920 sq.ft.
Investment Properties for Sale
$1,350
MLS 6004998
1633 W MISSOURI Avenue #34
Phoenix, AZ
Alhambra
Townhouse
2 beds2 baths920 sq.ft.
Investment Properties for Sale
$1,300
MLS 6004995
1633 W MISSOURI Avenue #13
Phoenix, AZ
Alhambra
Townhouse
2 beds2 baths920 sq.ft.
Phoenix, AZ Open Houses
Investment Properties for Sale
Open 12 PM to 4 PM
$240,000
MLS 3186000
3186 W Williams Drive
Phoenix, AZ 85027
Deer Valley
Single Family Residential
3 beds2 baths1,305 sq.ft.
CAP RATE
Trad. 2.27%Airbnb 3.02%
Investment Properties for Sale
Open 4 PM to 7 PM
$1,349,000
MLS 5944641
13015 N. 17th Place
Phoenix, AZ 85022
North Mountain
Single Family Residential
4 beds4 baths4,091 sq.ft.
CAP RATE
Trad. -0.95%Airbnb -0.87%
Investment Properties for Sale
Open March-17-2019 11 AM to March-17-2019 04 PM
$545,000
MLS 5946631
3046 E GLENROSA Avenue
Phoenix, AZ 85016
Camelback East
Single Family Residential
4 beds2 baths2,302 sq.ft.
CAP RATE
Trad. 2.14%Airbnb 3.71%
Investment Properties for Sale
Open 11 AM to 3 PM
$319,000
MLS 5946273
14814 N 37th Street
Phoenix, AZ 85032
Paradise Valley
Single Family Residential
3 beds2 baths1,881 sq.ft.
CAP RATE
Trad. 1.99%Airbnb 3.44%
Best Phoenix Neighborhoods for Buying Investment Property
76%
Mashmeter
property price
$349,950
Median
cap rate
5.03%
Traditional
7.34%
Airbnb
rental income
$1,467
Traditional
$2,140
Airbnb
homes for sale
292
occupancy rate
74%
Airbnb
67%
Mashmeter
property price
$530,000
Median
cap rate
3.88%
Traditional
7.54%
Airbnb
rental income
$1,715
Traditional
$3,329
Airbnb
homes for sale
387
occupancy rate
54%
Airbnb
70%
Mashmeter
property price
$250,000
Median
cap rate
5.35%
Traditional
12.69%
Airbnb
rental income
$1,115
Traditional
$2,645
Airbnb
homes for sale
60
occupancy rate
67%
Airbnb
69%
Mashmeter
property price
$325,000
Median
cap rate
5.35%
Traditional
10.94%
Airbnb
rental income
$1,448
Traditional
$2,964
Airbnb
homes for sale
298
occupancy rate
54%
Airbnb
69%
Mashmeter
property price
$470,000
Median
cap rate
3.67%
Traditional
3.86%
Airbnb
rental income
$1,436
Traditional
$1,512
Airbnb
homes for sale
153
occupancy rate
50%
Airbnb