Maricopa County population growth tops nation, for third year in a row
Maricopa County topped the country in population growth with an increase of 81,244 people, or 1.7 percent over the last year.
May 01, 2019
- Maricopa County topped the country in population growth with an increase of 81,244 people, or 1.7 percent over the last year, with Clark County, Texas coming in second with 47,650 people added. With the population exceeding 4.4 million people, the need for commercial real estate space continues to grow.
- The Phoenix office market currently has 2.0 million square feet under construction, with an estimated 1.4 million square feet planning to deliver throughout the next 18 months. Nearly 400 tenants are searching for office or industrial space throughout the valley. Growing firms are tapping into the strong demographic growth here and developers are working to meet this demand. The office market currently has 2.0 million square feet under construction, while industrial has 6.0 million square feet under construction.
- Investors may continue to look at Phoenix as an attractive investment opportunity given the strong macro trends, and rapidly growing population. Solid fundamentals such as a healthy and growing labor force, affordable cost of living and temperate climate continue to attract investors and new tenants to Phoenix.
Source: JLL Research, U.S. Census Bureau
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