That will most probably be offset by an increase in new mortgage costs and increased rates. 

@Audrey Sommer you have some good comments above (and some funny ones too) but just to confirm, what you were told is not accurate.  

Hey Bryant, that’s so funny I have lived in College Station for the past two years but just recently moved back home after graduation.

I guess not anymore.Lol, funny you mention that.

A high property tax rate will increase the taxes more quickly as a percentage of total expenses when the property value increases.

This post is funny

However, the depreciation claimed while the property was a rental must be accounted for upon the future sale of the personal residence, which could increase your capital gains tax liability.The adjusted basis of the property (original cost minus depreciation) will be used to calculate gains or losses at the time of sale.

The median home value in Phoenix as of April 2023 was $368,657, which is a 23.5% increase from the previous year. 

To eventually also cash flowing as rents increase. 

It does beat the expected inflation rate of 2% set by the Fed.Rents will remain about the sameWhat’s interesting is they also expect:A 11.7% increase in existing home inventory followed by Single-family new home starts growing at an impressive 13.8%.