In recent years, Arizona has become an increasingly popular destination for people looking to relocate. The state’s warm weather, beautiful scenery, and booming economy are just a few of the many factors that are attracting families and professionals to move to Arizona.
Who’s Moving To Arizona?
According to recent statistics, the number of people moving to Arizona has been steadily increasing in recent years. In 2021, over 78,000 people moved to the state, a 14% increase from the previous year. This trend is expected to continue into 2023 and beyond, with many experts predicting that Arizona will become one of the fastest-growing states in the country over the next decade.
Arizona’s population reached 7.5 million, and it is projected to increase by another 1 million people by 2029. According to data from the United Van Lines Migration Study, Arizona ranks as the fourth most popular state for inbound migration in 2020, with almost 62% of moves being inbound. The same study shows that retirees and those seeking warmer weather are the top reasons for moving to Arizona.
Arizona Real Estate
The real estate market in Arizona has also experienced significant growth over the past two years. According to Zillow, the median home value in Arizona was $313,000 in January 2021, a 16.8% increase from the previous year. This increase in property value reflects the high demand for housing in the state.
So, why is Arizona becoming such a popular destination for families and professionals? One of the main reasons is the state’s affordability. Compared to other major cities in the US, Arizona has a lower cost of living, making it an attractive destination for those looking to save money. In addition, Arizona has a favorable tax structure, including no estate tax, making it a popular destination for retirees looking to protect their wealth.
Natural Beauty and Outdoor Opportunities
Another factor contributing to the popularity of Arizona is the state’s natural beauty. From the Grand Canyon to Sedona’s red rock formations, Arizona is home to some of the most stunning scenery in the country. For nature enthusiasts, there are plenty of opportunities to explore the great outdoors, whether hiking, camping, mountain biking, or just spending more time outside.
Despite the hot weather, many residents of Arizona and those moving there prefer the dry climate and heat to the humidity and cold winters of the Midwest. Young professionals, families, and retirees are all flocking to Arizona based on the consistent annual population growth for the last 4 years.
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