Scottsdale offers easy access to Phoenix but boasts a much more suburban environment for people to live in. The city has a population of around 215,000 people and offers approximately 70,000 owner-occupied housing units. That means that a large portion of Scottsdale residents live in a property they own. Additionally, it is a good area for families, with about twenty percent of its adult residents having children.
When it comes to analyzing residential real estate property value, one of the biggest catalysts for establishing property value is by calculating the amount of owner-occupied housing units within a city or town as well as how strong the local economy is.
Scottsdale has some of the highest employment opportunities in the southern mid-west. It has a very low poverty rate with less than six percent of its resident’s living below the National Poverty Line. The city boasts a per capita income of nearly $50,000.
When it comes to the number one source of employment for the city, tourism is at the top of the list. Just over 7.5 million people visit the Scottsdale area annually, and almost 40 percent of its workforce are involved in the tourism industry. Much of North Scottsdale resort condos are high end.
The biggest source of tourism to the region is the high-end spa resorts that the city features. There are over 70 high-end resorts and over 15,000 hotel rooms in the city. Because the city is widely known for great weather in the winter months, these are generally considered the busiest tourist months for the city. It is rated within the top five locations for having the most five-star resorts in America. It is also widely known to have the highest spa destination tourism in the country.