Tucson Makes the Top 10 Hidden Gems Market

Hidden gem in a pile of rocksWe all know that Tucson is amazing but it’s always great to hear it mentioned by outside sources. This time Tucson made the top 10 list of hidden gems by the National Association of Realtors for 2022. Let’s look at what qualifies as a hidden gem market.

What is a Hidden Gems Market?

According to the NAR a hidden gem market has “strong underlying housing market fundamentals but where home prices are undervalue and relatively affordable. As such, these hidden gem markets are expected to experience stronger price appreciation in 2022.”

There’s a more technical definition with numbers, income indicators, technical jargon, etc. But the basics are Tucson is undervalued and still relatively affordable. Now some might argue that locals are getting priced out by cash buyers. Usually from other states looking for “investment properties.” That is indeed happening. But, the fact that Tucson is still a hidden gem is the important part for locals.

What They Said

“Tucson is very affordable in comparison to Phoenix. As of 2021 Q2, the median property value was $261,046. This is equivalent to 3 times the median family income in comparison to the median property value in Phoenix, $364,186, which is 4.3 times the median family income. Among the top 10 undervalued markets, Tucson had the third-largest net domestic migration in 2020, at 10,778 (next to Dallas and San Antonio). Due to strong population growth and net domestic migration, home prices rose at a 3-year cumulative rate from 2018 Q2—2021 Q2 of 23.6%, outpacing wage gains of 15.6%.”

What we heard was, Tucson is better than Phoenix! Tucson is more affordable than Phoenix. And Tucson is up and coming and ready for a population boom! Now is the time to think about your current home and what your needs might be in the future. Is it time to upgrade? If the answer is yes, or even a maybe, I can help make those dreams a reality.

Download a PDF of the Top 10 Hidden Gems of the Housing Market in 2022!

Have a great day!
Darren & Tony Ray 😎
🌵🏠☀️

 

Best City for Young Creatives

Tucson Voted Best City for Young Creatives
Tucson Voted Best City for Young Creatives

Tucson ranked #1 Best City for Young Creatives by CreativeLive.com.

Could the Southwest be the new Silicon Valley?

Organizations like Startup Tucson and the McGuire Center for Entrepreneurship seem to think so.

With collaborative co-working spaces like Connect Co-Working, The RailYard, Spoke6, GangPlankHQ, and Co+Hoots plus entrepreneurial, art and tech meet-ups springing up across the sunny city, Tucson is wooing young entrepreneurs like crazy, and was even named one of the top tech hubs of last year.

Top it off with really cheap rent, one of the lowest housing markets in the country and a happening downtown, Arizona starts to looking like a delicious place for young creatives with an idea and a dream.

The affordable housing market really does set Tucson apart from big cities.

Young creatives thriving in these cities are obviously pulling in a chunky paycheck, but when you factor in how much of that money is going towards housing, the big city appeal starts to dwindle. Not to mention many of these rentals are tiny, and crowded and lack privacy.

Home ownership still is a great way to build wealth and invest in the future. The peace of mind that comes with having this kind of stability and not having to move every year or every few years is also incredible.

Another thing to consider when you’re looking for a place to live and deciding where to buy a house, is would the property and location also make a good rental? Because you never know, with your more settled and thriving life, maybe you’ll be in a place to buy another home and rent out the first, or possibly you’d want to travel and rent out your house to a long term tenant or even AirBnB. There are many options and benefits of home ownership.

With the way things are booming in Tucson, self-starters, smarty-pants and other hard workers could even pull in those fat, big city paychecks. Mix that with a low cost of living and you’re on track to build actual wealth.

Another cool thing about Tucson is we have one the best music scene’s in the country and a huge population of young people… around 30% which is the same as Austin, Seattle, San Francisco, Portland and other young people melting pots.

I’d love to talk to you more about this!

Cities with the Fastest Job Growth

We Love Tucson's Playful Architecture, Cities with the Fastest Job Growth

Cities with the Fastest Job Growth

Via an article published August 16, 2016 in Bloomberg.com, an economist, Jed Kolko, “who specializes in U.S. cities and the future of work, points out that mid-sized cities, such as Tucson, Arizona and Seattle, Washington, continue to see fast job growth, but the San Francisco Bay area has fallen out of the top 10.” Tucson ranks number 3 overall on the list, beating out Austin, TX and Seattle, WA.

You can see the Bloomberg article of The Cities With the Fastest Job Growth, and let me know if I can assist you in finding a home in Tucson, so you can get in on this amazing opportunity. I specialize in the downtown area but I can certainly help you find a home anywhere in town, central, northwest, east, and south sides.”Better job security is fueling real estate demand in the south, and a corresponding pick-up in home-builder sentiment. This new construction boom in Tucson has already begun, especially with the revitalization and expansion of Tucson’s booming downtown.”

To give you an idea of the expected job growth in Tucson I was recently at a Downtown Growth and Development seminar (October 2016) and theses were the reported statistics relating to jobs coming to Tucson and below this chart of innovative companies who are or will be headquartered in Tucson.

Prospective Employers Shortlisted or Serious Consideration
Industry Employees Average Wage
Engineering / Manufacturing 1,975 $110,000
Engineering 170 $150,000
Manufacturing 40 $60,000
Professional Services 75 – 100 $75,000
Aerospace and Defense 1,000 $40,000
Manufacturing 60 $46,000
Advanced Services 192 $50,000
Manufacturing 31 $102,000
Total Jobs / Average Wage 3,543 $79,100

Awesome Tucson Companies

Accelerate 120 jobs

Taken from Accelerate’s website: “Accelerate Diagnostics is headquartered in Tucson, Arizona. Set at the base of the majestic Catalina mountain range, Tucson is called “science city” and was recently named one of America’s most innovative cities by Forbes Magazine. The community is quickly becoming a biotech and diagnostics hub, with companies such as Roche, Sanofi Aventis, Syncardia, and HTG Molecular, among others, driving biotech job growth of over 33%.”

Home Goods 900 jobs

ADP 450 jobs

Caterpillar 1,000 jobs

Caterpillar moving it’s headquarters to Tucson will not only provide many new job opportunities, but will also ensure lots of new construction for an overall economic boom! Get ready. Their new office will be located right downtown.

Comcast 1,100 job

World View 400 jobs

You’ve got to check out this innovative company. Here’s just one sentence from their website. “World View is leading the way in the emerging stratospheric economy, offering an innovative and affordable high-altitude flight platform that is transforming access to space.”

I hope you enjoyed discovering a bit more about Tucson. It’s no surprise that Tucson is ranked as one of the Cities with the Fastest Job Growth because many many exciting plans are underway and what I shared with here, is only the tip of the iceberg.

UArizona: A Stellar Leader in Astronomy and Astrophysics

For five consecutive years, the University of Arizona (UArizona) has held the prestigious title of being ranked No. 1 in astronomy and astrophysics by the National Science Foundation (NSF). This accolade is more than just a feather in the cap for UArizona; it symbolizes the university’s unwavering commitment to pushing the boundaries of space exploration and scientific discovery. But what does this mean for our community? It means living in a city that’s a beacon of innovation, education, and opportunity, drawing some of the brightest minds to Tucson. Let’s delve into what makes UArizona a powerhouse in these fields and why it matters to us all.

Leading the Way with Groundbreaking Research

UArizona’s dominance in astronomy and astrophysics is underpinned by significant financial investments. With over $123 million dedicated to these fields annually, the university’s expenditures account for a staggering 15% of all U.S. spending in this category​ (University of Arizona News)​. This funding fuels groundbreaking projects that not only advance scientific knowledge but also place Tucson at the heart of global space research.

One of the university’s crowning achievements is its role in the James Webb Space Telescope (JWST) project. UArizona scientists developed the Near-Infrared Camera, a critical instrument for the JWST, which will provide unparalleled views of distant galaxies, potentially transforming our understanding of the universe​ (University of Arizona News)​. This is just one example of the high-impact research conducted at UArizona, demonstrating why it consistently ranks at the top.

In addition to its No. 1 ranking in astronomy and astrophysics, UArizona excels across various scientific domains. The university is ranked No. 6 in NASA-funded activities and No. 7 in physical sciences​ (University of Arizona News)​. These rankings highlight the breadth of UArizona’s research capabilities and its pivotal role in addressing some of the most pressing scientific questions of our time.

A Community Enriched by Diversity and Innovation

UArizona’s accolades extend beyond research expenditures and rankings. The university is celebrated for its commitment to diversity and inclusion, particularly its high enrollment of Hispanic students, earning it the designation of a Hispanic-Serving Institution​ (University of Arizona News)​. This inclusive approach enriches the academic and research environment, fostering a community where diverse perspectives drive innovation and creativity.

Discover More About Tucson and Its Treasures

The achievements of UArizona in astronomy and astrophysics are a source of pride for Tucson and a testament to the city’s role as a hub of scientific excellence. But there’s so much more to discover in Tucson. From vibrant dining scenes and unique cocktail bars to comfortable hotels for your stay, Tucson offers a wealth of experiences for residents and visitors alike.

If you’re considering making Tucson your home, we invite you to explore our accolades section on SeeTucsonHomes.com. There, you’ll find all the information you need, including our free relocation package, to make an informed decision about moving to this incredible city. Tucson is not just a place; it’s a community brimming with opportunities and excitement, waiting for you to join.

For more information about UArizona’s space program and other accolades, visit UArizona Research, Innovation & Impact and stay connected with the latest updates on Tucson’s vibrant offerings.