Kudos Gilbert, AZ – Most Prosperous City AND the 15th Best Housing Market!
azCentral reports that in a recent study by the Economic Innovation Group, Gilbert, Arizona ranked #1 in the U.S. for Most Prosperous City or Town of its size. Gilbert beat out San Francisco, Seattle and even Austin TX for the coveted distinction. Multiple data sets were considered and criteria included among other things, graduation rate, employment opportunities, and median income. Neighboring Chandler, Arizona came in at an impressive #4 and Scottsdale finished 10th in the nation.
Gilbert, AZ, the 1920’s-designated ‘Hay Capital of the World’ is now a vital, contemporary “…community with a vision” according to Gilbert Mayor Jenn Daniels. The eclectic downtown area successfully achieves a delightful fusion of historic old west, cultural entertainment and avant-garde upscale eateries. Gilbert is home to a burgeoning medical hub, trendy retail centers, and decidedly livable residential neighborhoods.
In a separate ranking, 300 cities and towns were analyzed by WalletHub. Categories ranked were Housing Market statistics, and Affordability and Economic Environment. As usual, cities in Texas dominated the lead rankings for booming housing markets, but I’m happy to report that Gilbert AZ has once again popped up near the top of the list at #15 for Best Housing Markets and #4 for Economic Environment.
What makes for an attractive housing market? Analysts at WalletHub recently identified several indicators of desirability, using a 100-point scoring system in 300 markets to rank the top 25 in the nation:
Best & Worst Real-Estate Markets
(1 = Best)
|City||Total Score||‘Real-Estate Market’ Rank||‘Affordability & Economic Environment’ Rank|
|16||Grand Rapids, MI||70.38||16||74|
|17||Fort Collins, CO||70.34||15||121|
|18||Overland Park, KS||70.16||18||43|
|19||Colorado Springs, CO||70.11||19||32|
The indicators applied in the ranking included average days on market, median home price appreciation, the share of homes selling for a gain, and the share of underwater homes.
Five of the top 10 markets are in Texas, which also dominates as the state home to four of the top five in the ranking. No. 1 Frisco boasts the second-lowest home maintenance costs of the 300 markets evaluated, while No. 3 Allen has the third-lowest and No. 4 Cary has the fourth-lowest. No. 6 Seattle is tied for first for the lowest average days on market, while No. 7 Bellevue has the fourth-lowest foreclosure rate.