Phoenix, Arizona has seen exponential growth in its population these recent years. With homebuyers in Phoenix, business owners, and tourists looking for new opportunities in the market, Phoenix has become one of the fastest-growing cities in the U.S.
According to Medium, the city of Phoenix is expected to grow to a robust 1.7 million residents by the year 2040. But there are various reasons why Phoenix is becoming so attractive to both young adults, and older Americans.
Here we will explain some reasons why Phoenix is the fastest growing city, and why you should come visit.
aFFORDABLE hOUSE pRICES
The ability to buy a home is an important milestone for most Americans. Phoenix Arizona offers many available houses for homebuyers looking for affordable purchases. Having one of the most stable real estate markets in the country, there are always great deals available the rest of the year.
As a result, many first-timers decide to move to Phoenix from other areas of Arizona in the country. Buying a house in phoenix has also advantages. Some of these advantages include the ability to deduct taxes from the mortgage if the mortgage is smaller than the home value.
Business Development Opportunities
There is a lot of opportunities for big, and small business owners in Phoenix, Arizona. During the years, Phoenix has established a healthy business environment filled with economic opportunities, causing many businesses to relocate to the Grand Canyon State.
With a growing labor market, this allows startups plenty of opportunity to receive new hires, and jobs due to the high demand. During the year 2018 to 2019, Arizona ranked as the second state with the highest job growth. Because of this, it had one of the highest decreases in its poverty rate.
But more than that, the state also offers manageable taxes for businesses. With the state’s sale tax staying at a 5.6%, making it one of the most affordable states in the nation.
rAPID Career Growth oN pHOENIX
Phoenix has become tremendously attractive for young professionals. Phoenix has one of the best markets for young workers to start their careers. With tech companies, and many opportunities to start your own business, Phoenix.
According to multiple news sources, Phoenix ranks as the 15th state with most employments in the tech industry.
Phoenix is just a great place to live in
Phoenix with its great weather, beautiful landscapes, and endless job opportunities, has become one of the best places to live in the states. It is a favorite spot for many tourists and a great place to start a family for new homebuyers in Arizona.