One of the fastest-growing communities in the country, over 40,000 people relocate to Tucson every year. According to the U.S. Census statistics, Tucson grew in population by 20% between 1990 and 2000.
Approximately 350 building permits are issued each month by the city of Tucson. These days, the average price of a single-family home in Tucson is around $170,000 with houses staying on the market for, on average, only 55 days.
Vacancy rates for single-family detached homes and townhouses tend to be lower than 1%. The median value of all owner-occupied homes is approximately $115,500. With over 95,000 multi-family units, 92% of them filled, Tucsons rental market is strong.
Luxury home sales are also booming. Million-dollar home sales are increasing at a record pace.
Sources: City of Tucson, The Arizona Daily Star
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