Best Areas to Invest in Tempe, AZ
Are you planning to invest in Tempe real estate? Tempe is one of the best neighborhoods to invest in Arizona. With its suburban feel and relatively affordable cost of living, Tempe offers a great quality of life, which makes it a favorite destination for those who want to move to Arizona.
People are moving to Tempe, AZ for several reasons.
For one thing, its warm weather all year round attracts those who want to escape the snow and cold temperatures. Tempe has a strong job market that offers various opportunities for both career starters and young professionals. The thriving economy and growing job market in Tempe are two major drivers of the Tempe real estate market.
In addition, Tempe is home to Arizona State University, which is why it is a popular college town. Many college students and young families are moving to Tempe because of its excellent education facilities.
Since the population in Tempe is rising at a significant rate, this suburban Arizona city is one of the best neighborhoods for investing in real estate. After all, not everyone in Tempe can afford to buy their own house, and many would prefer to rent their homes.
Some residents would rather rent a property because it is the more practical option for them. This means that there will be many opportunities for real estate investors planning to invest in the Tempe rental market.
Before you buy an investment property in Tempe it’s important to find the best neighborhoods to invest in. Keep in mind that not all locations are optimal for investing in rental properties. To ensure profitability, you have to carefully do your research to ensure that you’re buying into a progressive rental market in Tempe.
Here are a few things that you need to consider when choosing a neighborhood to invest in:
- Safety: While Tempe is a generally safe city, not all neighborhoods are equally safe. If you want to attract tenants, make sure to find a property in a safe location. To ensure the area’s safety, it’s best to visit the place yourself and check the surroundings. Also, check the crime rate in the neighborhoods to see if it’s acceptable.
- Amenities: Another important factor to consider when buying a Tempe rental property is the available amenities in the neighborhood. Renters prefer to live in an area where everything that they need is accessible. Check if the place is close to public transit and other essential services like dining, schools, medical services, recreation facilities, and shopping centers.
- Proximity to Businesses: If you want to attract working-class renters, finding a property near business districts where people go for work is a good idea.
Best Neighborhoods in Tempe
To help you get started with your search, we listed the best Tempe neighborhoods for investing in real estate.
1. Optimist Park NE
Optimist Park NE is home to more than 2,200 residents.
Most of the people staying in this neighborhood are established individuals, professionals, and families. This is one of the best neighborhoods if you want your investment property to be near various local businesses, dining options, and coffee shops.
This neighborhood is generally safe. The streets are well-lit at night and residents feel comfortable walking alone. Plus, it is close to some of the best schools in the area, making it a great place for those with school-aged children.
2. Alta Mira
A well-established community in Tempe, Alta Mira is another favorite location for real estate investing. If you want to buy a large single-family home, this is the best place to go. This neighborhood is great for tenants who own a car to get around town and want to live the suburban lifestyle.
3. Tally Ho Farms
Tally Ho Farms is a community in South Tempe that offers the benefits of rural feel. It is home to three excellent public schools, which is why families with school-aged kids want to live in this area. If you want to attract families with kids, this is the best place to invest in.
It is close to LEGOLAND Discovery Center Arizona, a famous amusement center that both kids and adults will enjoy. Residents can also enjoy outdoor recreation activities and green spaces at Stroud Park and Hanger park.
4. Sunburst Farms
If you want to buy large single-family homes, consider the Sunburst Farms neighborhood. Most residents in this area are aged 55 years or older. If you plan to rent out to retirees, this is the best place to invest in.
The area is surrounded by some of the best restaurants in Tempe, as well as parks for recreation and boutiques for shopping. There are also great schools in the area for school-aged children. It offers a great quality of life for all ages.
5. Dava Lakeshore
Dava Lakeshore is home to both beautiful single-family homes and apartments. This is a popular destination for both homebuyers and rental property investors because of its affordability, accessibility, and amenities. There are also various dining options and grocery stores around the area that residents can enjoy.
6. Camelot Village
Camelot Village is a clean, well-maintained, and family-friendly neighborhood that is home to more than 2,200 residents. It offers a good quality of living because it is peaceful and quiet, and has good walkability. This means that residents don’t need a car to move from one place to another.
7. Kyrene-Superstition
If you prefer to invest in a smaller residential suburb, consider buying a property in the Kyrene-Superstition neighborhood. This area is home to many young professionals, families, and retirees and is a generally safe and quiet place.
Plus, compared to other neighborhoods, it has great walkability and friendly neighbors, making this community a desirable place to live. What’s more, it’s close to nearby highways and the airport.
8. Meyer Park
If you prefer to rent out to families with kids, Meyer Park is one of the AZ neighborhoods which is located near great schools.
Tenants can also access several restaurants, cafes, parks, and local businesses within walking distance. This area is a great place for those who prefer living a laid-back life.
Choosing the Right Place
If you need help choosing the right Tempe neighborhood to invest in, the experts at get MULTIfamily are here to help with your Tempe investment . We can help you with your investment property every step of the way, from picking the right property out of all the neighborhoods, to managing the day to day.
Frequently Asked Questions
Why is Tempe considered a good place to invest in real estate?
Tempe offers a suburban feel, a relatively affordable cost of living, and a great quality of life. Its warm weather all year attracts people escaping cold climates, and it has a strong job market and thriving economy. As home to Arizona State University, it is a popular college town, and its rising population creates many rental opportunities for investors.
What factors should you consider when choosing a Tempe neighborhood to invest in?
Consider safety, amenities, and proximity to businesses. Not all neighborhoods are equally safe, so visit the area and check crime rates. Renters prefer areas where public transit, dining, schools, medical services, recreation, and shopping are accessible. Finding a property near business districts helps attract working-class renters who go there for work.
Which Tempe neighborhoods suit families with school-aged children?
Several Tempe neighborhoods are near great schools. Tally Ho Farms in South Tempe is home to three excellent public schools and is close to LEGOLAND Discovery Center Arizona, Stroud Park, and Hanger Park. Meyer Park is located near great schools with restaurants, cafes, parks, and local businesses within walking distance. Optimist Park NE is also close to some of the best schools in the area.
Which Tempe neighborhoods are good for large single-family homes?
Alta Mira is a well-established community and a good place to buy a large single-family home, suited to tenants who own a car and want the suburban lifestyle. Sunburst Farms also offers large single-family homes, and most residents there are aged 55 or older, making it a fit if you plan to rent to retirees. It is surrounded by restaurants, parks, and boutiques.
Which Tempe neighborhoods offer good walkability?
Camelot Village is a clean, well-maintained, family-friendly neighborhood home to more than 2,200 residents, and its good walkability means residents do not need a car to move around. Kyrene-Superstition, a smaller residential suburb home to young professionals, families, and retirees, also has great walkability, friendly neighbors, and is close to nearby highways and the airport.