November 5, 2024 1:06 am
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Affordable housing vanishing in Scottsdale

By Wayne Schutsky | Scottsdale Progress

The booming market for Scottsdale homes and apartments is compounding an existing housing affordability crisis in the city.

Over the past two years, the median sales price for a Scottsdale home jumped 27 percent to $745,000. Even historically-affordable 85257 in southern Scottsdale saw prices jump 32 percent to over $454,000 during that time.

Meanwhile the apartment rental market also saw median rents rise 8.6 percent over the past year citywide, according to Apartment List. Scottsdale currently has the highest median rent for a two-bedroom in the Valley at $1,640.

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© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.