About the Maricopa Housing Market
Maricopa city is the eighth fastest-growing American City. The city and the neighboring metropolitan region continued to grow in population even during the pandemic. Emigration, or individuals voluntarily moving here, is the primary source of migration rather than natural movement, which is determined by births minus deaths.
Population growth: According to the US Census Bureau, the population of Maricopa City grew from just over 1,000 in 2000 to more than 50,000 in 2020, a growth rate of over 4,900%.
Housing growth: The city has seen a significant amount of new home construction in recent years, with many new housing developments being built to accommodate the growing population. This has led to a rise in property values and a boost to the local economy.
Maricopa offers residents and businesses the experience of a small-town atmosphere that is within a short distance to two major metropolitan areas.
Median Household Income: $89,693
Metro Population: 66,290
11-Year Population Growth: 44.2%
Median Home Price: $346,000
Median Rent Per Month: $1,845
1-Year Equity Growth: -14.6%
8-Year Equity Growth (January 2014 – December 2022): 137%
1-Year Rent Growth: 12.4%
8-Year Rent Growth (January 2014 – December 2022): 57.9%
Job Growth: +1,500 CES jobs created over the last year
1-Year Job Growth Rate: 3.1% (40% lower than the national average)
Unemployment Rate: 3.4% (22% lower than the national average)
Tenant Laws: Landlord-Friendly
What to Like
#1 Most Diverse School District in the Phoenix Area (Niche.com – 2022)
#3 Fastest Growing Cities (HomeSnacks.net – 2022)
#7 Best Suburb to Buy a House in Phoenix (Niche.com – 2022)
Low cost of living
What to Watch Out For
Lack of diversity
Poor road conditions
Limited entertainment
Very hot summers
– As one of the oldest communities in Arizona, Maricopa is a vibrant city surrounded by mountain ranges and the Gila River Valley.
– Right below the city of Phoenix, Maricopa offers affordable housing options, employment opportunities with major employers such as Volkswagen Group of America and Northrop Grumman, historical landmarks and enjoyable weather.
– To support the growing population, the city has invested in a range of infrastructure projects, including road improvements, water and wastewater systems, and public facilities like parks and community centers.
– Maricopa City saw a population increase of more than 58,000 persons in 2020. That is a daily net increase of more than 150 persons on average.
– Maricopa is a relatively affordable city, especially when compared to other cities in Arizona. The median home price in Maricopa is around $350,000, which is significantly lower than the median home price in Phoenix.
Economic Growth
With its proximity to Phoenix and its growing population, Maricopa City has become an attractive location for businesses to establish themselves. The city has seen growth in a number of industries, including healthcare, retail, and manufacturing. It is home to a number of businesses, including Intel, Amazon, and State Farm.
Low cost of living
Maricopa has a relatively low cost of living compared to other major metropolitan areas in the United States. This makes it an attractive option for people who are looking to save money on housing, transportation, and other expenses.
Steady home price appreciation
The median home price in Maricopa City, Arizona has appreciated by 6.78% per year over the past 10 years. This means that a home that was worth $200,000 in 2013 would be worth $335,600 in 2023.
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Solid rental cash flow opportunities
According to Mashvisor, the median cash on cash return (CoC) for a traditional rental property in Maricopa is 4.0%. This means that for every $100 invested, investors can expect to earn $4 in cash flow each year. The median Airbnb CoC return is 4.0%, which is also very good.
High demand for rental properties
The city is growing rapidly, with a population of over 500,000 people and a median home price of $350,990. This means that there is a high demand for rental properties, and investors can expect to earn a good cash flow on their investment.
Low property taxes
Property taxes in Maricopa are relatively low, which can help to improve the cash flow on rental properties.
Overall, Maricopa is a great place to invest in rental properties. The city has a strong population and job growth, low property taxes, and affordable rental rates. This all adds up to good cash flow potential for investors.
Maricopa City, Arizona
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