Arizona has recently experienced a surge in popularity as an appealing relocation option. The state’s pleasant climate, picturesque landscapes, and thriving economy are among the numerous factors that entice individuals and families to consider moving to Arizona.
Who is Moving to Arizona?
Recent data reveals a consistent rise in the number of individuals relocating to Arizona. In 2021, more than 78,000 people moved to this state, marking a 14% surge compared to the previous year. Experts predict that this upward trend will persist beyond 2023, positioning Arizona as one of the fastest-growing states in the nation throughout the next decade.
Some Facts about Real Estate in Arizona
The real estate market in Arizona has witnessed substantial growth in the last couple of years. Zillow reports that homes in Arizona reached a median value of $313,000 in January 2021, marking a 16.8% surge compared to last year. This rise in property prices is indicative of the strong demand for housing in the state.
So, why has Arizona become such a sought-after location for families and professionals? One of the primary factors is the state’s affordability. Compared to other major cities across the United States, Arizona boasts a lower cost of living, making it an appealing choice for those seeking to save money. Additionally, Arizona’s tax structure is favorable, with no estate tax, thereby attracting retirees who wish to safeguard their riches.
Outdoor Opportunities and Natural Beauty of Arizona
Arizona’s natural beauty is one of the key factors behind its popularity. For nature enthusiasts, there are countless opportunities to immerse themselves in the great outdoors, whether hiking, camping, mountain biking, or simply spending more time outside. In fact, with landmarks like Sedona’s and Grand Canyon’s vibrant red rock formations, the state boasts some of the most breathtaking scenery in the entire US.