Most of the Phoenix Metro's multifamily is going to be located in the central Phoenix area, with a decent amount also available in Glendale, Mesa and Tempe.
The other suburbs like Chandler, Gilbert, Surprise, Peoria, etc. are all mostly single family homes, so you won't find as much opportunity there.
While the cities do differ from one another to some degree, we're all a part of the same metro so you can probably use analysis for the Phoenix metro in general analyze the area.
Housing is needed everywhere, so probably the best thing to question is the local violent crime rate for the property you are considering. Every city has good and bad areas when it comes to crime, and so no matter where you look you'll probably want to avoid the area where three people were murdered last week. Search the local crime maps for that info.
Is there a particular area of town you're wondering about or looking in?
Most of the Phoenix Metro's multifamily is going to be located in the central Phoenix area, with a decent amount also available in Glendale, Mesa and Tempe.
The other suburbs like Chandler, Gilbert, Surprise, Peoria, etc. are all mostly single family homes, so you won't find as much opportunity there.
While the cities do differ from one another to some degree, we're all a part of the same metro so you can probably use analysis for the Phoenix metro in general analyze the area.
Housing is needed everywhere, so probably the best thing to question is the local violent crime rate for the property you are considering. Every city has good and bad areas when it comes to crime, and so no matter where you look you'll probably want to avoid the area where three people were murdered last week. Search the local crime maps for that info.
Is there a particular area of town you're wondering about or looking in?
Real Estate Broker · Scottsdale, AZ · Member since 2018 · 125 posts · 82 votes
6y
@Matthew Jenks I personally like the areas of Fountain Hills, Mid-Town Phoenix, and South Arcadia. As Wes alluded to, MF is only in select cities/areas in the valley, which are typically older. The areas I listed above have a higher rent per SqFt then you will get from central Phoenix and Mesa. Just depends on the type of tenants that you are willing to manage.