Tolleson, Arizona, is seeing somewhat of a renaissance. Home prices there are rising, and new houses are being built. There are also attractive parcels of land available there.
Some investors are eyeing new homes in Tolleson, AZ, while others are considering the land parcels available for development. There’s little doubt that Tolleson offers a lot as a place to live and raise a family, but what about the area as an investment prospect?
We’ll discuss that in detail right now.
The Annual Growth
In terms of hard numbers, the annual growth rate is always something beneficial to look at if you’re determining whether a particular area is on the rise. The growth rate in Tolleson has averaged 1.39% over the past decade, while it has been 1.24% for the state.
The national growth rate has been 0.69% during that same period. What does this mean? It’s a clear indicator that Arizona, in a general sense, is seeing more growth than the rest of the country, on average. Tolleson is seeing even more prolific growth than the rest of the state.
Total Population Growth
You should also look at total population growth if you’re thinking about Tolleson as a place to potentially invest. The nation’s growth rate over the past decade has been 6.23%. That’s healthy, but it pales in comparison to that of Arizona as a whole, which sits at 11.20% over the same period.
Once again, though, Tolleson did even better than Arizona with total population growth. It grew 12.50%, on average, during that same ten-year stretch. That means Tolleson’s charms keep bringing in new residents, even more, on average, than the robust growth that the rest of the state is experiencing.
Property Market Values
Perhaps what makes Tolleson the most attractive as an investment opportunity is the property market value of the average home there. The median home value at the moment is $162,400.
You can compare that to $209,600 for the rest of the state and $204,900 for the rest of the country. This means that while the population keeps growing and the annual growth rate keeps going up as well, the cost of the average home in Tolleson remains lower than both the state and national average.
That is probably the most convincing argument that you will see dividends if you look at Tolleson as a place where you might invest your money and see a solid rate of return. You should see better-than-average returns on your investment dollars if you either buy up homes or land parcels there.
There’s no reason not to think that the trends in Tolleson that have emerged over the past decade will not continue. It’s regarded as a safe place to live and one with many nearby amenities.
Whether you plan to buy a home in Tolleson and live there or rent it out, the money-making potential is obvious. A wise real estate investor can follow the trend and cash in.