The Impact of Out-of-State Buyers on Maricopa County Real Estate
Over the last few years, Maricopa County has experienced an extraordinary surge in population growth, largely fueled by out-of-state buyers relocating to the Phoenix metropolitan area. This trend has had a transformative impact on the region's real estate landscape, altering everything from home prices to housing availability and long-term development.
According to data from the U.S. Census Bureau, Maricopa County ranked as the fastest-growing county in the U.S. from 2019 to 2022, consistently adding tens of thousands of new residents annually. Many of these newcomers are from states like California, Washington, and Illinois, drawn by Arizona's lower cost of living, favorable tax climate, and year-round sunshine.
Zillow reports that Phoenix is one of the top relocation destinations in the country, with a significant share of traffic coming from out-of-state shoppers. Buyers are especially attracted to communities in Scottsdale, Chandler, Gilbert, and Queen Creek, where they can find larger homes, newer builds, and lifestyle amenities at more affordable prices than comparable metros in their home states.
The influx of out-of-state buyers, many with larger budgets due to higher home equity or incomes in their previous states, has pushed up home prices across Maricopa County. According to Realtor.com, the median listing home price in Maricopa County was $529,000 as of Q1 2025—up nearly 8% year-over-year.
Real estate professionals note that these buyers are often paying above asking price and making cash offers, contributing to the competitive environment that has made it increasingly challenging for local buyers to compete.
This population growth has strained housing inventory in many communities. The Arizona Regional Multiple Listing Service (ARMLS) shows that active listings in Maricopa County dropped by over 25% compared to pre-pandemic levels. New construction has attempted to fill the gap, but developers are struggling to keep up with demand due to rising construction costs and supply chain constraints.
Master-planned communities like Eastmark in Mesa and Alamar in Avondale are expanding rapidly to accommodate the new demand, but tight inventory continues to place upward pressure on prices.
The ripple effect is being felt by long-time Arizona residents and first-time buyers, many of whom are priced out of homeownership. As purchasing becomes more difficult, rental demand has soared. According to Zumper, rental rates in Phoenix have increased 6.5% year-over-year, driven by limited housing options and rising interest from out-of-state renters.
While the influx of out-of-state buyers has undeniably contributed to Maricopa County's real estate boom, it also poses challenges for housing affordability and long-term planning. Cities across the Valley are ramping up efforts to promote smart growth, improve infrastructure, and encourage diverse housing types to meet the evolving needs of both new arrivals and existing residents.
For investors, builders, and homebuyers alike, staying informed on these migration trends is essential. The continued popularity of Maricopa County as a relocation hotspot suggests that demand will remain strong—but affordability and inventory constraints will be key issues to watch.
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