Chandler, AZ Multifamily on FIRE!!!!
On or about 5 years ago, I met the Economic Director of Chandler. At that time, she told me that; in her opinion, by 2020 Chandler would have a single-family home on every available parcel of land. Effectively that Chandler would be a “finished” city. While that prediction was not entirely true, it was not far off. If you drive around Chandler, there is Bulldozer on every spot of land.
But that is not what I wanted to convey today. Today, I wanted to talk about how the multifamily boom is out pacing single-family homes by nearly 3 to 1 in Chandler.
Why do Cities approve such development? Easy, JOBS! Have you been on Indeed.com or any of the other job boards, they are loaded with JOBS! If we have jobs in this economy, then we have real estate. It really is just that simple. If the government decides to ruin the economy that will indeed ruin real estate as well. They are directly linked.
Our population growth is driving the need for multifamily. If I had to sum up Chandler, we need affordable housing. Rents on the low end $900 and less, middle end rents at $900 - $1,300 and higher end rents at $1,600+.
Let’s explore from the intersection of the lower highway 202 and highway 87. 5 miles north and south, 3.5 miles east and west, there are 3,500ish multifamily units in or going in.
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The question I often get is should I buy or should I rent? The easy answer is “If you can afford to buy, then buy.” That way you get the appreciation as time goes on. Besides, I can remember renting and living with all those people and their parking lot issues. I am all about the single-family home but you will pay more to get that level of luxury. If you are ready to List or Buy, let me know. We provide extreme value either way.
Buyers get: Sellers get:
FREE Home Inspection 5k
Flat Fee Listing
FREE Termite Inspection FREE Home Inspection
FREE Home Warranty FREE Termite Inspection
Best,
Geoff Nowlin, Phoenix Realtor
480-466-3737
nowlin.geoff@gmail.com
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