AZ’s Fastest-Growing Housing Markets

In Arizona, housing growth isn’t limited to the big cities anymore. While Phoenix has long been the state’s hub for development, its suburbs and exurbs are now seeing significant growth. With more people looking for affordable housing and less crowded areas, these regions are rapidly expanding. So, what are the fastest-growing housing markets in Arizona? Let's go over the data.

Suburbs Leading The Way

A recent analysis by StorageCafe of over 4,100 U.S. cities found that suburban growth is far outpacing that of urban areas in Arizona. While major cities like Phoenix and Tucson are seeing modest housing increases, the surrounding suburbs are taking off.

• Phoenix: 6% housing stock increase
• Tucson: 6% growth, similar to Phoenix
• Chandler: 17% rise in housing stock
• Mesa: 12% increase
• Gilbert: 24% increase, leading traditional city growth

But it’s the exurbs where the most significant changes are happening, with smaller communities transforming into desirable places to live.

Queen Creek Is Arizona's Fastest Growing City

Queen Creek has seen a remarkable expansion over the past decade. So much that it has emerged as the fastest-growing housing market in Arizona. This area in the Phoenix metro has been welcoming more residents and housing at a strong pace.

• Housing stock: 19,777 units in 2022 (up 123% from 2013)
• Population: 61,788 residents (128% growth in the last decade)
• Home prices: Have doubled in the past ten years
• Incomes: Increased by 52%

This steady growth reflects the rising appeal of Queen Creek, both for its affordability and the influx of new housing that attract families and individuals looking for space.

Also Read: Popular North Scottsdale Communities You Should Know About

Buckeye Seeing Steady Expansion

Buckeye is another suburb in the Phoenix area that has seen strong growth. It has been steadily developing. It is supported by its growing population and increased demand for housing.

• Housing stock: 30,307 units (up 72%)
• Population: Over 95,000 residents (81% growth in the last decade)
• Home prices: Nearly tripled
• Remote work: A shift from 5% to 14% of residents now working from home

With its strategic location and remote work options growing, Buckeye is an attractive option for those seeking more affordable homes.

New Kingman-Butler: Smaller Scale, Still Growing

In Mohave County, New Kingman-Butler is a smaller market that’s still seeing noticeable growth. Although it’s not on the same scale as Queen Creek or Buckeye, it’s experiencing its own increase in housing stock, Not to mention population.

• Housing stock: 2,766 units (67% growth over the last decade)
• Multifamily housing: Sixfold increase, from 55 to 356 units
• Home prices: Up 49%, still affordable compared to other areas
• Incomes: Rose by 64%

This community remains one of Arizona’s more affordable housing markets. And that remains true even with the increases in demand and prices.

Also Read: NAR’s 2024 International Buyer Data And Its Impact On Arizona

Tucson’s Suburban Growth

Valencia West and Marana, both on the outskirts of Tucson, have also seen substantial growth. Their housing markets have been expanding at a healthy rate. Additionally, their population numbers are steadily rising.

• Valencia West: 48% increase in housing stock, 41% rise in population
• Marana: 48% growth in housing, 47% population increase

Both areas are becoming more popular for people looking to live near Tucson without dealing with the higher costs or congestion of the city itself.

Other Growing Communities

Several other towns are also seeing increased housing activity. Goodyear has added a significant number of new homes. Meanwhile, smaller towns like Chino Valley and Vail are expanding, albeit at a slower pace compared to the larger suburbs.

• Goodyear: Housing stock up 39%, population increased 44%
• Vail: 32% increase in housing, 41% population growth
• Chino Valley: 30% rise in housing, 21% population growth

These smaller communities are becoming appealing options for people looking for a quieter lifestyle without moving too far from the amenities of larger cities.

A Balanced Growth Across Arizona

Arizona’s suburbs and exurbs are steadily expanding, offering residents more affordable opportunities compared to the state’s larger cities. Areas like Queen Creek and Buckeye are leading the way, but even smaller towns are seeing their own gradual development. This change marks a new chapter for Arizona’s housing market, helping those looking to settle outside of traditional urban centers.

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