July 2017
Featured Listing

Tatum Ranch
4601 E Hunter Court
Cave Creek, AZ 85331

4 bedrooms | 2 baths | 2,186 sq. ft.
MLS# 5576786

Offered at  $399,000

Mike Sunnucks
Phoenix tops US in population growth (more than LA, NYC) and why that's good for the economy, business

May 25, 2017, 10:36am MST

Mike Sunnucks
Senior Reporter
Phoenix Business Journal

Phoenix is tops in the U.S. for population growth, according to new data from the U.S. Census Bureau.  Phoenix added 32,113 persons to its population between July 2015 and July 2016. That's more than any other city in the U.S.  Los Angeles added 27,173, San Antonio 24,473 and New York 21,171 persons during the same time frame, according to the Census data. The population data is for cities and not metro areas.

That is good news for the real estate industry, home and apartment builders and business recruiters. It also shows the Phoenix market is getting back to pre-recession norms after the last real estate and economic crash.  Population growth stalled during and right after the recession.

The Phoenix metro area and Arizona as a whole have long depended on population growth to fuel construction, retail and restaurants and business services. A larger population also means Phoenix is in line for more federal funding for transportation, infrastructure and security dollars for programs based on population.  The city of Phoenix is expanding its Metro light rail system and also wants to bring more residents to its downtown core. A growing population can help convince developers and builders to do that.

The city of Phoenix's population now totals more than 1.6 million persons. That ranks fifth among U.S. cities and ahead of Philadelphia (1.57 million).  New York is the largest U.S. city at 8.5 million followed by Los Angeles at 3.98 million and Chicago with 2.7 million.

The Phoenix metro area has 4.66 million persons. That ranks 12th nationally.  Maricopa County also topped the list of U.S. counties for population growth during the same time frame.

Lee McPheters, an economist with Arizona State University's W.P. Carey School of Business, is projecting 2 percent population growth for the Phoenix metro this year. That comes after 2.1 percent growth in 2016 and 2 percent in 2015. A growing population certainly shows economic attractiveness and strength and appeals to employers looking for workers, home and apartment builders as well as real estate investors.
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SEA LIFE Arizona Aquarium
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July 24th - July 30th, 2017
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Phoenix Zoo
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July 15, 2017
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(602) 273-1341

Arizona Broadway Theatre
7701 W. Paradise Lane | Peoria, AZ
July 21 - 23, Jul 25 - Jul 30, Aug 1 - 6, Aug 8 - 13, Aug 15, Aug 17 - 20, 2017
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Heard Museum
2301 N. Central Avenue | Phoenix, AZ
July 23, 2017
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