A city in Maricopa County, AZ, Surprise was founded in 1938 by Flora Mae Statler, who named it Surprise as she "would be surprised if the town ever amounted to much." It turned out that it did, as its population was 143,148 at the 2020 census.
The local real estate market offers a promising landscape for investors looking to make strategic property acquisitions. As of August 4th, 2023, the median home price in Surprise AZ stands at $213,600, while the median rent is $1,219. With a population of 129,534 and a median age of 41.3, Surprise presents a growing and diverse community. Unemployment is at 6.7%, contributes to a stable economic environment.
The real estate market features single-family homes that sold for an average of $516,995 last week, with a 57-day average time on the market. Condo/townhomes also hold appeal, with an average selling price of $292,200 and 93 days on the market. The city's population density is approximately 55,938 units, reflecting its growing popularity as a residential destination. Homeowner vacancy rates are at 3.4%, while rental vacancy stands at 5.5%.
Surprise takes pride in its educational institutions, with 36 schools evaluated based on factors like test scores and student-teacher ratios. This ensures quality education options for families considering the city as their home.
Overall, Surprise presents an opportunity for property buyers to tap into a growing market with a range of housing options.
PURE Property Management understands the unique opportunities and challenges that come with rental property investments in Surprise. Our expert property management Surprise AZ team can help you navigate the local market, find quality residents, and maximize your return on investment. Whether you're a seasoned investor or exploring rental property for the first time, trust PURE Property Management to be your partner in success.