There’s a the age old question everyone thinks about when they decide to move to a city in Arizona:
Should I buy a place or rent?
Well, we aren’t here today to solve that problem for you exactly. We are just assuming you’ll do the right thing and a buy a place 😉
And while we are happy to tell you the best place to live in Arizona, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the Grand Canyon State.
To do that we are going to look at places in Arizona that are growing faster than average, but where home prices are below average. In every day terms, the “deals”.
The best deal in Arizona at the moment? That would be Eloy according to our analysis.
Here’s a look at the top ten places to buy a home in Arizona for 2019:
- Eloy (Photos | Homes For Sale)
- Guadalupe (Photos | Homes For Sale)
- Mesa (Photos | Homes For Sale)
- Wickenburg (Photos | Homes For Sale)
- Kingman (Photos | Homes For Sale)
- El Mirage (Photos | Homes For Sale)
- Somerton (Photos | Homes For Sale)
- Casa Grande (Photos | Homes For Sale)
- Maricopa (Photos | Homes For Sale)
- Youn (Photos | Homes For Sale)
The methodology that wen’t into this can be a bit complicated, so we’ll break it down for you in as much detail as we can below.
For more Arizona reading, check out:
- These Are The 10 Best Counties To Live In Arizona
- 10 Best Places To Raise A Family In Arizona
- These Are The 10 Best Places To Retire In Arizona
How do you determine the best places to buy a home in Arizona for 2019?
We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we’ve put a lot of thought into what goes into finding a good place to buy a home.
So all that thinking has come to this moment where we get to spell out how we’d approach finding an up-and-coming place to live in Arizona. Put differently, the analysis will try to find places in Arizona with undervalued homes relative to pent up demand.
To do that we looked at the most recent American Community Survey Census data for 2013-2017 and compared it to the previous vintage (2012-2016). Specifically, we used the following criteria:
- Y-o-Y Change In Population (People want to live here)
- Y-o-Y Change In Median Home Prices (People are willing to pay for it)
- Home Prices Relative To The State Average (It’s still kinda cheap)
We want places that are growing, have seen home prices increase in recent years, and are still “cheap” for Arizona with the following caveats:
- Home prices had to be within 20% of the state average (Much lower than that and you get to some of the more dangerous places)
- Home prices increased in the last year, and
- Above 5,000 people (Bigger cities have more data points)
So of the 435 cities and towns in Arizona, only 57 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 57 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a “best place to buy” index with the place having the lowest index being the best.
Turns out that Eloy is the best potential gem in the not-so-rough in the Grand Canyon State.
Read on for more on these places.
The history of Mesa dates back at least 2,000 years to the arrival of the Hohokam people. The Hohokam, whose name means “All Used Up” or “The Departed Ones”, built the original canal system. The canals were the largest and most sophisticated in the prehistoric New World. Some were up to 90 feet wide and ten feet deep at their head gates, extending for as far as 16 miles across the desert. By A.D. 1100 water could be delivered to an area over 110,000 acres, transforming the Sonoran Desert into an agricultural oasis. By A.D. 1450, the Hohokam had constructed hundreds of miles of canals many of which are still in use today.|After the disappearance of the Hohokam and before the arrival of the early settlers little is known, as explorers did not venture into this area. By the late 19th century near present-day Mesa, U.S. Army troops subdued the Apache opening the way for settlement.
The Wickenburg area with much of the Southwest became part of the United States by the 1848 treaty that ended the Mexican-American War. The first extensive survey was conducted by Gila Rangers who were pursuing hostile Indians who had raided the Butterfield Overland Mail route and attacked miners at Gila City.
Lt. Edward Fitzgerald Beale, a U.S. Navy officer in the service of the U.S. Army Corps of Topographical Engineers, was ordered by the U.S. War Department to build a federal wagon road across the 35th Parallel. His secondary orders were to test the feasibility of the use of camels as pack animals in the southwestern desert. Beale traveled through the present day Kingman in 1857 surveying the road and in 1859 to build the road. Beale’s Wagon Road became part of Highway 66 and Interstate Highway 40. Remnants of the wagon road can still be seen in White Cliffs Canyon in Kingman.
Casa Grande was founded in 1879 during the Arizona mining boom, specifically due to the presence of the Southern Pacific Railroad. In January 1880, the community of Terminus, meaning “end-of-the-line,” was established despite consisting of just five residents and three buildings. In September 1880, railroad executives renamed the settlement Casa Grande, after the Hohokam ruins at the nearby Casa Grande Ruins National Monument. Casa Grande grew slowly, and suffered several setbacks both in 1886 and 1893, when fires ravaged the town, destroying all wooden housing structures within it. When the mining boom slowed in the 1890s, the town was nearly abandoned, but with the advent of agriculture, the town remained alive and well, and was eventually incorporated in 1915.
Maricopa has had three locations over the years: Maricopa Wells, Maricopaville and Maricopa Junction; the latter gradually became known as Maricopa. It started as an oasis around a series of watering holes eight miles north of present-day Maricopa, and about a mile west of Pima Butte. European-American traders and travelers called it Maricopa Wells. Several of Arizona-s rivers, the Gila, Santa Cruz, Vekol and Santa Rosa provided this oasis in the desert with an ample supply of water during this period of time.
There You Have It – The Best Places To Purchase A House In Arizona for 2019
There’s our analysis of the best places to buy a house in Arizona. And, to be clear, we aren’t necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.
In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 435 places in the state.
So if we’d could rent or buy in these cities, we’d definitely buy.
For more Arizona reading, check out:
Detailed List Of The Best Places To Buy A Home In Arizona
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