Peoria Honored as Best City in Arizona
AZ Big Media names the city of Peoria as the 2021 Best Place to Live, Work and Play in its annual publication, Ranking Arizona. Peoria jumped up two spots from third place in last year’s publication.
“When you think of a city that draws you, compels you to be your most creative, unique and exceptional self, it is the city of Peoria,” said Mayor Cathy Carlat. “What does a family want? What does a business need? Every decision and policy is designed to answer those questions. We are proud to have developed an exceptional city, where when you ask the right questions you get the right results.”
The city of Peoria is known locally and nationally for its high quality of life, beautiful desert vistas, safe neighborhoods, and award-winning recreation services. Peoria supports a strong business community and entrepreneurial ecosystem, has sustainable, future-ready economic development practices, and manages growth smartly. The city has a reputation for maintaining a solid fiscal position and providing essential services while emphasizing the importance of arts, recreation and open space preservation. Because of these characteristics, the city of Peoria has already been honored by Money Magazine, Forbes, Wallethub, USA Today and more for its livability and thriving economy.
“Peoria is more than just a place to visit. It’s a thriving, dynamic community of entrepreneurs, creators, innovators, teachers, leaders, students and families,” said Peoria City Manager Jeff Tyne. “It is such an honor to be recognized by Ranking Arizona as the 2021 Best Place to Live, Work and Play.”
Ranking Arizona, according to AZ Big Media, is “Arizona’s largest business opinion poll that annually ranks companies and cities based on those with whom voters want to do business.” Residents are encouraged to vote on Arizona cities and towns as well as more than 20,000 businesses in more than 250 different business and leisure subcategories. To learn more about the publication and Peoria’s ranking, visit https://azbigmedia.com/vote-ranking-arizona.
Phoenix metro posts fastest home rental increases amid slowest national growth in 9 years
Jun 16, 2020, 8:00am MST
National rent price growth in April slowed to its lowest level since November 2010 as unemployment reached its highest level in 80 years.
While single-family home rent prices in April slowed to the lowest level since November 2010 nationwide, metro Phoenix posted the fastest increase in rents since late 2018, according to a new report released by CoreLogic (NYSE: CLGX).
Nationwide, shelter-in-place directives coupled with the highest unemployment rate in 80 years left renters hesitant to pursue new living accommodations, which pushed rent price growth to its lowest rate in more than nine years during April — since the initial recovery of the Great Recession, said Molly Boesel, principal economist for CoreLogic.
While economic disruptions affect all parts of the housing market, the impact can often be seen in the rental market sooner than the for-sale market, she said.
“This means changes in rents can foreshadow changes in home prices,” Boesel said.
Data collected for April 2020 shows a national rent increase of 2.4% year over year, down from a 2.9% year-over-year increase in April 2019.
But rents in Phoenix increased from 6.6% from a year earlier, far above the next metro on the list for rent increases, Tucson, which saw rents increase 3.7%, and almost three times faster than for the U.S. overall, Boesel said.
“Strong rent growth in Phoenix is associated with population and job growth,” she said. “Arizona ranked third for population growth in 2019 by both number and percentage increase, and Phoenix job growth has been among the highest in the nation. Job losses from Covid-19 have been lower in Phoenix than in other areas, which kept the pace of rent increases high in the metro in April.”
Behind Phoenix and Tucson in single-family year-over-year rent growth during April was the Charlotte-Concord-Gastonia, North Carolina and South Carolina area, which posted 3.4% growth, followed by the San Diego-Carlsbad area of California, showing 3.2% growth. Right behind that area was Las Vegas-Henderson-Paradise area of Nevada, showing 3.1% growth. In 2019, the Las Vegas area was right up there with Phoenix and Tucson in YOY percent changes.
Guide to Living & Working in Tucson & Southern Arizona.
Phoenix Business Journal