Revitalization Causes South Scottsdale Homes to Grow Increasingly Unaffordable

It seems like every day new information is reported confirming the growing popularity of South Scottsdale. And why shouldn´t there be? Its central location keeps residents close to arts and cultural events scattered around the surrounding community, plus the area is undergoing major revitalization. However, with all this popularity, what was once one of the most affordable sections of the city is now growing quite unaffordable.

It has become nearly impossible to find South Scottsdale homes for under $200,000. Just this year, the median price of South Scottsdale homes shot up to $291,500, and condos "that are less than 1,000 square feet are routinely selling for $400,000."

These exorbitant prices for South Scottsdale homes are shutting out a lot of first time buyers and young families. "Community leaders have begun worrying about the long-term impact of shutting the less affluent out of houses," and are pressuring city officials, who are delighted with the increasing values of Scottsdale homes, into "discussing how they might create more housing that is within the grasp of less affluent residents." And with the expected influx of new workers brought by the planned ASU Scottsdale Center for New Technology and Innovation, affordable Scottsdale homes will become an even more important subject for the local government.