About the Buckeye Housing Market
Buckeye, Arizona is one of the fastest-growing cities in the Phoenix metropolitan area, and in the state of Arizona as a whole. According to the US Census Bureau, the city’s population grew from just over 6,500 in 2000 to more than 82,000 in 2020, a growth rate of more than 1,100%.
As the westernmost neighborhood of Phoenix, Buckeye is the only significant city between Phoenix and Los Angeles. Due to this, it provides for a great rest stop for anyone traveling between the two cities, as well as a viable choice for Californian businesses looking to relocate to Arizona
Staying in Maricopa County, Buckeye is another suburb in the Phoenix metropolitan area. Its downtown area provides space for local businesses and national retailers, while boasting major employers such as Banner Health, the City of Phoenix, and several financial companies including American Express and Bank of America.
Median Household Income: $79,156
Metro Population: 105,560
11-Year Population Growth: 8.57%
Median Home Price: $395,000
Median Rent Per Month: $1,737
1-Year Equity Growth: 12.28%
1-Year Rent Growth: 10%
8-Year Rent Growth (January 2014 – December 2022): 72.8%
Job Growth: +18,700 CES jobs created over the last year
1-Year Job Growth Rate: 3.3%
Unemployment Rate: 2.9% (22% lower than the national average)
Tenant Laws: Landlord-Friendly
What to Like
Low crime rate / cost of living
Above average income
Warm weather
Growing population
What to Watch Out For
Valley Fever
Traffic congestion
Lack of diversity
– Location: Buckeye is located in the western part of the Phoenix metropolitan area, which is one of the fastest-growing regions in the United States. Its proximity to major highways and the Phoenix Goodyear Airport makes it an attractive location for businesses and residents.
– Affordable Housing: Buckeye has a relatively low cost of living, particularly when it comes to housing. Compared to other cities in the Phoenix area, Buckeye offers more affordable housing options, which is a major draw for families and retirees.
– Economic Development: Buckeye has made significant investments in economic development in recent years, including the development of a 2,000-acre industrial park and a 2,500-acre mixed-use development that will include residential, commercial, and retail space.
– Quality of Life: Buckeye offers a high quality of life with a warm climate, access to outdoor recreation, and a growing arts and culture scene. The city has invested in new parks, trails, and community facilities to support its growing population.
Steady population increase
The Phoenix area is both a popular retirement and family destination with proximity to golf courses, nightclubs and outdoor activities. With all these amenities, it’s understandable that Buckeye had a population increase of 8.6% from July 2020 – July 2021. The population of Buckeye is over 80,000 in 2023, up over 9%, according to data from the U.S. Census Bureau.
Strong job growth
Important employers in the region include the City of Phoenix, Banner Health, and a number of banking institutions. Buckeye has seen the job market increase by 3.3% over the last year. Future job growth over the next ten years is predicted to be 48.4%, which is higher than the US average of 33.5%.
Steady home price appreciation
The housing market in Buckeye, AZ is performing much better than the national average. According to the most recent data, the median value of homes in Buckeye is $385,200, which is significantly higher than the US median value of $338,100. Additionally, the one year house appreciation in Buckeye was 11.29%, nearly 3% higher than the national average of 8.27%. This makes it a great time for people looking to buy property in Buckeye or investing in real estate there.
Purchasing Property in Buckeye
According to the Buckeye Valley Chamber, the city has a diverse employment base with many small thriving businesses as well as large enterprises, which makes for a strong economy. With current job growth at 2.26 percent and expected future job growth at 17.40 percent, the strongest areas of employment can be seen in the service sector and construction/maintenance sector.
Buckeye is joining the ranks with Phoenix as one of the fastest growing cities in the U.S., per AZ Big Media. According to Census estimates, the city had a 5.9 percent population increase that boosted its total population to 68,453.
Neighborhoods like Sundance, Sun City Festival, and Festival Foothills have median priced homes between the low $200s to mid $300s, while neighborhoods like Valencia, Blue Hills, and Estrellas Garden include median homes priced in the low to high $100s. With reasonably priced homes found throughout the city’s distinct neighborhoods, home-buyers are sure to find a home that fits their style and budget.
Buckeye, Arizona
No warranty, expressed or implied, is made regarding the accuracy, adequacy, completeness, reliability or usefulness of any data provided. These data are provided “as is.” All warranties of any kind, expressed or implied, including but not limited to fitness for a particular use, freedom from computer viruses, and non-infringement of proprietary rights, are disclaimed. By visiting this website, the user agrees that the data presented here is added and changed periodically, and data may become out-of-date quickly. This data is provided for informational use only, and the user is encouraged to perform his/her own research.