Tucson is a large and rapidly growing Sun Belt city located approximately 100 miles southeast of Phoenix. Tucson is the second most-populated city in Arizona behind Phoenix.  The city attracts both young residents and retirees alike, with its attractive setting, pleasant climate and cosmopolitan nature. Tucson is the second-most populous city in Arizona and is currently the 33rd largest city and 52nd-largest metropolitan area in the United States. Since 2000, it has had a population growth of 51.46%.  In 2018, the Census estimated the city’s population at 545,975 with a metropolitan area population at 1,039,073  

Tucson is rapidly becoming a hotbed for innovation in Arizona. Startups and businesses are trying to change the world of aerospace, optics, medicine, and engineering through technology.  Tucson has experienced tremendous growth in tech wages over the last five years, making it one of the top up-and-coming tech markets in North America, according to CBRE.   According to The Milken’s Institute, Tucson ranks 41 out of 200 of the best performing cities in high tech GDP Growth.  The University of Arizona is a crucial piece of that growth, developing and commercializing university-born technologies. The Tucson Tech Corridor, which consists of  Pima Community College, Startup Tucson, Tech Launch Arizona, UA Center for Innovation, and- premier research park-  Tech Park Arizona, have contributed  to Tucson’s momentum as an emerging tech hub. In the recent year, Tucson has attracted major distribution operations such for Target, HomeGoods and Amazon, due to the easy access to Interstate 10.  Some of the largest employees in Tucson include Raytheon Missile Systems (11,370 employees), Davis-Monthan Air Force Base (10,869 employees), Pima County ( 7,100 employees) and Freeport-McMoRan Copper & Gold Inc. (5,819 employees).

Tucson’s economy is centered around tourism and the city’s largest employer, with 12,053 employees, the University of Arizona.  The University of Arizona provides of plethora of employment opportunities and a consistent source of renters from faculty and students; ensuring stable rental demand and low vacancy rates.  “Tucson job and population-growth levels have created a boom in the real estate market with median home prices at $220,000, an 8% increase since 2018.  Realtor.com recently deemed the city as a top market for investors, due to the city’s affordability and low unemployment.  Population projections for metro Tucson and Phoenix predict the two cities downtowns, could join somewhere in Pinal County in approximately two decades (2040).  If Sun Belt Valley’s growth engine continues the merging of both large MSA’s, the result could bring auspicious market conditions for investors that have already taken advantage of the current expansion.