Need Another Reason to Purchase Investment Properties in Scottsdale?
Posted on September 20, 2020 by Laura Lucky
Last month we discussed the value of owning income-producing investment properties – rentals – as a means to fund your retirement or simply as another revenue stream for homeowners. Now, WalletHub.com, a financial resources site, has ranked Scottsdale, Arizona as the 10th best place to rent among 180 rental markets across the country. The rankings are based on 24 key measures of rental attractiveness and quality of life.
Among those 24 key metrics studied are Rental Vacancy Rate, Share of Newer Homes, Rental Affordability, Cost of Living, Weather, Recreation-Friendliness, Job Market, and City Satisfaction Ranking.
While Scottsdale is considered a top-ten destination for renters, it’s also been named the No. 1 city in the nation for Highest Median Rent Growth Forecast. That’s certainly good news for investors purchasing rental properties.
And of course, it comes as no surprise to us that Scottsdale was ranked No. 3 for the Quality of Life metric in this study.
Earlier this year WalletHub.com named Scottsdale as the No. 1 best city to find a job, the No. 8 best city for recreation, and the No. 5 best city for our traffic and infrastructure.
When it comes to determining what type of property you’ll be offering – be it a full-time rental property, a vacation home, or a short-term rental – take Scottsdale’s offerings and amenities into consideration. Historically, Scottsdale has been a hotspot for seasonal renters choosing to winter in our sunny climes. However, with the influx of corporations relocating their business and employees to the Valley, you may expect to appeal to renters moving here along with their jobs. There are many opportunities to take advantage of these newly relocated businesses and other booming industries in our area.
We’d love to consult with you and guide you on the purchase of investment properties. Contact us at 602.320.8415 or lucky@russlyon.com.
