Blog Post

What’s Going On in Phoenix’s Rental Market?

Cassie McClenaghan • July 24, 2024

What’s Going On in Phoenix’s Rental Market?

We’ll explore why it’s the best time to invest in Phoenix’s rental market.

If you own a property here in Metro Phoenix or if you’re looking for your next investment, we want to share a great investment opportunity: turning your old house into a rental property. Today, we will discuss the thriving rental market in Metro Phoenix and how this will benefit potential investors and property owners. Here are three expert observations on the rental market and why now is the best time to invest:

1. A growing population and economy. There are now over 5 million people living in the valley. This population growth means more big businesses are moving into the area, which will bring in thousands of new jobs.

2. Major business developments. The biggest developments right now are the semiconductor plants being built on both ends of the valley. Additionally, Facebook and EdgeCore are constructing huge data centers here, contributing to a robust job market and a strong economy. All these factors make metro Phoenix a fantastic place to live.

"Don’t wait to invest in Phoenix’s rental market—the best time is now."

3. Infrastructure developments. If you're a property owner or an investor with a property you want to rent, you're in luck. The rental market here is incredibly strong. Places to consider for buying rental properties include areas near freeways. Our freeways are expanding in all directions, making many areas more accessible and attractive for renters. Additionally, there's a new railway coming to the northwest valley, connecting Phoenix to Nevada and California, which will be a significant boon for the rental market.

Metro Phoenix's rental market is thriving, making it an excellent time for investors and property owners. If you have a property you'd like to rent out or if you’re considering investing in this market, feel free to reach out to us at Patriot Property Management by calling 602-581-3586. We would love to help you manage your assets so you can make the most money out of your investment. We look forward to talking with you!

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