As one of the fastest growing cities in America, it’s no wonder the flood of inbound migration is bringing middle-class families to Phoenix, where they can sweep up jobs and housing that’s far more affordable than many other major metropolitan areas. The great thing about Phoenix – there are many neighborhoods where you can find a job and purchase a home that is close to work, shopping, dining and schools. In this blog post, we explore six of the best neighborhoods to work in Phoenix.
The unemployment rate in Phoenix is around 3.6% – nearly half of the U.S. average. Nicknamed the “Silicon Desert,” the area’s economic growth is dynamic, with more than 700,000 new jobs forecasted by 2030. Technology, IT, healthcare, education, travel and tourism are several industries putting Phoenix on the map as one of the fastest growing tech hubs in the nation. For example, Taiwan Semiconductor Manufacturing Company (TSMC) is building a $35B campus on Phoenix’s north side and Intel is creating two major campuses in the East Valley.
Affordable Phoenix Neighborhoods
When businesses establish their brick-and-mortar presence in developing areas, people move in, creating thriving neighborhoods. Below, we share a handful of neighborhoods that are great to live and work in, each sharing commonalities of low crime rates, good schools, access to shopping, dining, entertainment and recreation.
32nd Street Corridor
Median home sales price: $590,000
Central Phoenix is undergoing a massive revitalization, specifically along the 32nd Street Corridor, which is bustling with new businesses, housing and infrastructure. Since 2016, a massive effort has been underway to develop new housing, single-family homes and apartment complexes. New restaurants, grocery stores and family entertainment are breathing new life into this area. This urban pioneer neighborhood is perfect for families who want to be a part of an exciting change in the city.
Median home sales price: $419,000
This affordable historic district is culturally and architecturally rich. Garfield is within walking distance to downtown, making it a prime place for local entrepreneurs to establish startups. Coworking offices are becoming common, and the Center for Entrepreneurial Innovation is based here, supporting over 80 startups to-date. Spurred by economic growth, many studios, businesses and restaurants call Garfield home, and you can too – especially if you love remodeling historic fixer-uppers
Median home sales price: $445,000
The popular historic neighborhood of Encanto includes the city’s Uptown and Midtown districts. The area’s robust healthcare industry is expanding and there are plenty of jobs available at Phoenix Children’s Hospital, WCUI School of Medical Imaging and Lifewell. The area is also home to budget-friendly apartments, condos, and single-family houses.
Median home sales price: $458,000
Tempe is home to Arizona State University, one of the best schools in America, and also one of Tempe’s largest employers. ASU was recently recognized as #6 in research spending, placing it in elite company. This exciting neighborhood is a hotspot for economic development with recent news of Amazon planning to create over 550 new jobs at its Tempe tech center and the Arizona Coyotes are proposing to build their new arena here. Tempe is filled to the brim with sprawling urban areas, is extremely bicycle friendly, walkable, and one of the most affordable areas in the metro area to live in.
Median home sales price: $550,000
Living in Desert Ridge feels like a permanent staycation. The JW Marriott Desert Ridge Resort & Spa is the largest in the metro area, named one of the top 75 resorts in America by Condé Nast Traveler readers. The resort and the Mayo Clinic are two of the biggest employers in this neighborhood. The Mayo Clinic offers some of the best high-quality patient care in the nation and often receives a #1 ranking in Arizona and the Phoenix metro area by U.S. News & World Report.
Median home sales price: $551,000
From an agricultural town to a high-tech industrial city, Chandler is the destination of choice for global industry leaders, exciting startups, talented workers and their families. Known as the “Community of Innovation,” this area is in one of the fastest growing innovation and technology centers in the country. Chandler Innovations, a business incubator hub, is spurring the area’s economic growth in aviation, business and financial services, IT, high-tech manufacturing, health and bioscience.
Find the Right Neighborhood For You with Halpern Residential
With year-round sun and a picturesque desert landscape, it’s no wonder Phoenix is a great vacation destination and a hot spot for relocation. The Valley of the Sun is one of the few places where families can afford to live, work and play without breaking the bank. Plus, the metro area tops many lists when it comes to public safety, median income, graduation rates, weather, Southwest cuisine and culture. If you want to learn more about the best affordable neighborhoods in Phoenix where jobs and housing are manageable, call us and we’d love to share our insights.