Scottsdale - An ideal market scenario

Population

Arizona is home to internationally known landscapes and breath taking sights such as the Grand Canyon and Sedona. It is also home to some of the highest quality tourist destinations in the country, including the City of Scottsdale. Most recent population estimates (2005) place Arizona's population at 5,939,292, making it the 19th largest state in the country. More interesting though, is the incredible rate of population growth in Arizona, and particularly that Maricopa County is experiencing. From 2004 to 2005, the Grand Canyon state was the second fastest growing state in the country with a 3.5% growth rate, which is far above the national population growth rate of only 0.9%.

Maricopa County is the largest county in the state, encompassing the cities of Phoenix, Scottsdale, Mesa, Glendale, Carefree and Tempe, among many others. Maricopa County is currently undergoing a population boom. Maricopa County, which added 696,000 residents to the Valley of the Sun between 2003 and 2006, is now the fourth largest county in the nation with nearly 4 million residents, and it experienced the largest county growth rate in the United States from 2003-2004. In fact, Maricopa County is experiencing such a tremendous growth that the state is facing the need to implement 7-digit license plates to handle the surge of new residents. Some of the factors contributing to this drastic increase include rapid economic growth, domestic immigration from other states and affordable housing. No doubt that the sunny weather, wide open spaces and magnificent sights also entice people to Arizona and, specifically, Maricopa County. This significant growth is expected to continue, and the Arizona Department of Economic Security projects the county population will top 4.5 million by the year 2020, and 6.2 million by 2040.