The Phoenix economy generated 60k new jobs in 2016 compared to an average of 37k new jobs per year since 1991. Over the last 12 months, job growth remained strong at 35k new jobs, 28% of which were in the high income employment sectors. Projections are for an average of 30k new jobs per year through 2020, with positive job growth every year. Phoenix is among the top markets in household income growth with 4.8% YOY income growth. Accelerating incomes are necessary to offset rising home prices and rental rates. With solid employment gains and relatively low housing permit levels, the employment/permit (E/P) ratio is 1.5, compared to a balanced ratio of about 1.2, indicating an under-supplied market. This will put some upward pressure on rents and home prices.
The City of Scottsdale is one of Arizona’s ten largest cities with a population of more than 230,000. With a rich history in tourism, Scottsdale is visited by more than 9 million people annually, generating an economic impact of 3.7 billion. Home to Arizona’s finest shopping and dining, Scottsdale offers ranches, hiking trails, award winning resorts and acclaimed art galleries for its residents that enjoy a quality of life like no other.
More than 20 percent of Arizona corporate headquarters are in Scottsdale, and 98 percent of Scottsdale’s software companies are growing with 14 percent software employment growth forecast in Arizona over the next five years, the highest in the Mountain West region. Scottsdale is ranked the sixth safest city in America, holds a Gold Ranking as one of Top Ten Best Burbs for Biking, and is an up and coming foodie location. It was also honored as Arizona’s 2013 “eCity” by Google, and is home to some of Arizona’s top performing public and private schools.
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