Arizona leads the nation in net borrower migration: Uncover essential insights for mortgage lenders

In this exclusive report we use Maxwell Business Intelligence data to unpack migration trends in the state of Arizona. With the 3rd highest growth compared to any other state, Arizona provides opportunities for mortgage lenders to consider as they look to grow their mortgage footprints.

Arizona takes the #3 spot in highest inbound migration across the US

In this report, you’ll discover how to reach borrowers migrating to Arizona with our exclusive insights, including:

  • Arizona’s migration growth compared to other states
  • The top states people are migrating from 
  • Hotspots where people in Arizona are settling, including city – and county-specific data

Arizona growth compared to other states

The trends presented in this report are derived from borrower migration data. The map above illustrates the net growth or decline each U.S. state has experienced due to borrower migration since 2021. The figures are calculated by subtracting the total number of outbound borrowers (those moving out of the state) from the total number of inbound borrowers (those moving into the state), then dividing by each state’s 2023 U.S. Census population. These trends indicate which states are attracting more borrowers than they’re losing, highlighting growth potential and opportunities for lenders to expand their footprints in these regions.

With over 5,600 borrowers moving to Arizona from another state and over 2,200 borrowers moving out of Arizona since 2021, Arizona exhibits the third-highest migration growth per capita of any state according to Maxwell Business Intelligence data.

This growth suggests Arizona’s increasing appeal and presents an opportunity for the region’s banks, credit unions, and mortgage banks to expand their customer base. Borrowers moving to Arizona from out of state will need a trusted partner familiar with the region to help guide them. As you strive to be one of those trusted professionals, knowing the states these borrowers are coming from will help you connect with them and better meet their needs. In the next section, we dive into the top 5 states residents are relocating to Arizona from.

Migration by state:
The top 5 states residents are relocating to Arizona from

Maxwell lender data reveals California as the primary source of new residents moving to Arizona, with 74 borrowers making this relocation. Unlike other high-growth states, Arizona is unique in that it attracts new residents from a wide variety of states rather than just a concentrated few. This diverse influx of borrowers highlights Arizona’s broad appeal as a destination for those seeking to relocate.

Understanding these migration patterns can help lenders target and attract new borrowers from these key states more effectively. Next, we’ll explore the top destinations where borrowers choose to settle within Arizona.

Mapping Arizona’s migration: Where borrowers choose to settle

Maxwell’s data reveals the most popular cities and counties where new borrowers are choosing to establish their homes in Arizona.

Top cities for inbound borrowers:

  1. Phoenix
  2. Tucson
  3. Mesa
  4. San Tan Valley
  5. Buckeye

Leading counties for inbound borrowers:

  1. Maricopa
  2. Pinal
  3. Mohave
  4. Yavapai
  5. Pima

As a mortgage lender in Arizona, understanding where new borrowers are settling allows you to tailor your marketing and outreach efforts more effectively. By focusing on the top cities and counties for inbound borrowers, you can develop targeted strategies to connect with potential clients seeking out these high-demand areas.

Charting the course forward

Don’t miss out on the chance to grow your mortgage business in Arizona. With the right insights and strategies, you can make the most of this booming market and secure your place as a leading lender in the state.

By leveraging the comprehensive analytics in our report, plus out-of-the-box reporting within Maxwell Business Intelligence, you can connect with more borrowers and maximize your business potential.

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