Arizona is red-hot!
While raising a family you may want to own your home so that you are in complete control of your living situation. However, financially speaking, owning may not always be the best idea in every city in the USA, but it is the best idea when it comes to the Phoenix Scottsdale area.
Homes in Arizona have appreciated faster than homes almost anywhere else. In particular, homeowners around the Phoenix metro area in cities like Chandler, Gilbert and Scottsdale have seen their home values increase by over 40%. This makes it a great spot to be a homeowner. Combine that with the large number of multi-bedroom homes and you have a great market to find a family home.
Chandler, Arizona
South east of Phoenix, Chandler is the best city to buy a family home. Data shows that from 2011 to 2015 the median home value increased by a whopping 45%. While that trend may not continue at such a breakneck pace in the future it is still a good sign for potential homeowners. Other than appreciating home values, the housing stock here is also favorable for people family-home hunting. Data shows that over 91% of homes in Chandler have at least two bedrooms. For both metrics, home appreciation and percent of housing stock with at least two bedrooms, Chandler ranked in the top 10.
Gilbert, Arizona
Also south east of Phoenix, the second of three Arizona cities to crack a top 10, Gilbert scores well in many of the same metrics Chandler did. Home values in Gilbert are rocketing up. The average home increased in value by just under 47% from 2011 to 2015. Gilbert also has the largest portion of its housing stock which is built with families in mind in the study. Over 96% of homes here have at least two bedrooms.
Scottsdale, Arizona
East of Phoenix, Scottsdale combines rising property values (up 27.25% from 2011 to 2015) with low property tax rates (0.55%) to make for a great place to buy a family home. Make sure you don't take out a mortgage you can't afford, however. Data suggests some people in Scottsdale may have bought more home than they could afford. According to our data, just over 33% of homeowners here are housing cost-burdened.
* Source: Orion Investment Real Estate
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