WalletHub Ranks Scottsdale 34th, Phoenix 55th & Tucson 105th in Job Recovery

Source: WalletHub

 

With inflation staying high but the U.S. gaining 372,000 jobs in June, WalletHub today released updated rankings for its report on Changes in Unemployment Rate by City as a follow-up to our report on the States Where Unemployment Claims Are Decreasing the Most.The U.S. job market has healed a lot from the damage done by the COVID-19 pandemic, and the national unemployment rate is currently at 3.6%, which is 76% lower than the peak of 14.7% during April 2020. Unfortunately, high levels of inflation and the threat of a recession on the horizon could cause a surge in unemployment in the near future. Some cities’ jobs have weathered the storm better than others, though.

In order to identify where workers have been most affected by the coronavirus pandemic, WalletHub compared 180 cities based on five key metrics. We looked at the change in each city’s unemployment during the latest month for which data was available (June 2022) compared to May 2022, June 2021, June 2020 and June 2019. We also considered each city’s overall unemployment rate.

To read more, go here.

Overall Rank City Unemployment Rate (June 2022) Change in Unemployment (June 2022 vs May 2022) Change in Unemployment (June 2022 vs June 2021) Change in Unemployment (June 2022 vs June 2020) Change in Unemployment (June 2022 vs June 2019)
1 Miami, FL 2.00% -9.46% -63.75% -74.88% -28.82%
2 Hialeah, FL 2.20% -7.22% -67.82% -73.68% -30.79%
3 Springfield, MO 2.00% -17.21% -51.79% -76.98% -24.34%
4 Manchester, NH 2.00% 6.26% -49.94% -82.14% -27.33%
5 Kansas City, MO 2.70% -16.45% -60.76% -73.55% -26.44%
6 Warwick, RI 2.30% 3.20% -64.51% -80.07% -14.42%
7 San Francisco, CA 2.20% 15.82% -61.12% -81.79% -9.25%
8 Nashua, NH 2.20% 9.66% -47.50% -80.17% -22.53%
9 San Jose, CA 2.40% 19.54% -60.26% -80.64% -17.77%
10 St. Louis, MO 3.30% -13.73% -55.62% -75.08% -21.36%
11 Fremont, CA 2.40% 18.11% -56.68% -76.10% -16.10%
12 Santa Rosa, CA 2.70% 13.80% -57.81% -77.57% -9.66%
13 Garden Grove, CA 3.10% 15.90% -64.66% -83.77% -7.50%
14 Minneapolis, MN 2.40% 39.65% -47.41% -81.08% -31.49%
15 Huntington Beach, CA 2.80% 13.93% -56.64% -78.36% -6.95%
16 Anaheim, CA 3.10% 14.47% -60.81% -81.00% -4.22%
17 St. Paul, MN 2.60% 40.71% -47.58% -79.54% -32.09%
18 Santa Ana, CA 3.00% 13.71% -56.60% -77.96% -5.49%
19 Oceanside, CA 3.20% 18.56% -58.18% -78.53% -13.62%
20 San Diego, CA 3.00% 17.22% -56.21% -77.24% -8.36%
21 Providence, RI 3.50% 2.32% -50.60% -78.41% -13.48%
22 Des Moines, IA 3.00% 10.53% -52.74% -69.67% -11.25%
23 Pembroke Pines, FL 2.70% 21.87% -42.03% -78.14% -13.46%
24 Oxnard, CA 3.50% 12.52% -55.63% -71.99% -20.84%
25 Portland, ME 2.50% 1.56% -51.30% -70.85% 23.60%
26 Oakland, CA 3.40% 14.85% -57.58% -78.31% -6.49%
27 Cape Coral, FL 2.80% 18.07% -40.14% -73.68% -14.79%
28 Irvine, CA 2.90% 21.66% -53.34% -73.15% -3.75%
29 Salt Lake City, UT 2.30% 12.71% -24.39% -70.39% -11.92%
30 Tampa, FL 2.90% 21.11% -41.03% -74.96% -14.67%
31 St. Petersburg, FL 2.80% 21.78% -41.21% -74.74% -10.46%
32 Rancho Cucamonga, CA 3.00% 18.09% -51.60% -72.80% -0.40%
33 Virginia Beach, VA 2.80% -1.65% -32.99% -70.88% 2.59%
34 Scottsdale, AZ 2.70% 20.89% -31.27% -66.15% -24.86%
35 Juneau, AK 3.20% 8.61% -37.43% -69.01% -17.90%
36 Port St. Lucie, FL 3.00% 19.77% -40.37% -70.39% -16.10%
37 Sioux Falls, SD 2.10% 11.46% -29.63% -57.23% -5.00%
38 Seattle, WA 2.40% 26.08% -38.08% -76.27% 6.99%
39 West Valley City, UT 2.50% 12.70% -28.74% -65.30% -10.30%
40 Ontario, CA 3.50% 14.47% -55.22% -72.78% -2.92%
41 Riverside, CA 3.50% 17.24% -53.64% -71.62% -7.46%
42 Bakersfield, CA 4.10% 17.46% -54.82% -73.48% -24.80%
43 Rapid City, SD 2.40% 15.09% -29.38% -57.95% -13.09%
44 Chula Vista, CA 3.70% 15.88% -55.89% -75.94% -1.51%
45 Chesapeake, VA 3.00% -1.82% -32.83% -68.17% 2.27%
46 Orlando, FL 3.30% 16.45% -43.77% -83.11% 7.46%
47 Bismarck, ND 2.20% 19.54% -34.78% -59.42% 1.03%
48 Fort Lauderdale, FL 3.30% 17.26% -42.02% -79.23% 0.36%
49 Fontana, CA 3.60% 17.88% -56.30% -71.54% -2.73%
50 Sacramento, CA 3.80% 13.57% -54.00% -71.93% -4.33%
51 Peoria, AZ 3.20% 14.42% -36.84% -61.48% -19.93%
52 Jersey City, NJ 3.80% 4.58% -54.69% -75.38% 12.98%
53 Boise, ID 2.40% 21.59% -28.96% -68.53% 3.49%
54 Moreno Valley, CA 4.10% 11.84% -56.64% -70.63% -10.35%
55 Phoenix, AZ 3.40% 15.05% -39.23% -64.08% -20.27%
56 Overland Park, KS 2.50% 13.37% -20.34% -60.76% -12.38%
57 Boston, MA 3.50% 11.55% -46.31% -77.82% 11.98%
58 Colorado Springs, CO 3.40% 7.80% -47.40% -68.24% 11.88%
59 Chandler, AZ 3.00% 20.56% -31.60% -61.28% -18.58%
60 Gilbert, AZ 2.80% 22.51% -27.24% -60.23% -19.47%
61 Norfolk, VA 3.80% -4.63% -40.55% -71.73% 6.35%
62 Glendale, AZ 3.50% 19.18% -40.58% -62.24% -21.05%
63 Richmond, VA 3.70% -3.94% -39.20% -73.82% 11.30%
64 Anchorage, AK 3.90% 3.49% -40.11% -63.89% -16.38%
65 Burlington, VT 2.40% 55.32% -35.89% -72.12% -7.74%
66 Denver, CO 3.30% 1.98% -48.99% -72.13% 34.36%
67 Cedar Rapids, IA 3.30% 18.30% -48.20% -63.85% 4.40%
68 Wichita, KS 3.50% 10.95% -37.01% -69.23% -3.30%
69 South Burlington, VT 2.10% 44.12% -33.24% -68.18% 11.87%
70 Fargo, ND 2.20% 26.46% -31.46% -64.59% 20.45%
71 Modesto, CA 4.60% 15.24% -51.08% -69.34% -24.97%
72 Missoula, MT 2.80% 17.21% -21.10% -65.34% -2.40%
73 Newport News, VA 3.90% -4.53% -37.66% -71.80% 10.97%
74 Omaha, NE 2.80% 25.06% -20.18% -59.41% -18.24%
75 Fort Wayne, IN 3.30% 25.23% -32.21% -71.89% -1.94%
76 Reno, NV 3.30% 16.01% -29.70% -71.14% 3.91%
77 Tempe, AZ 3.30% 27.08% -32.32% -62.24% -17.28%
78 Aurora, CO 3.70% 2.51% -51.02% -72.13% 34.69%
79 Mesa, AZ 3.40% 21.42% -32.00% -60.14% -17.62%
80 Jacksonville, FL 3.30% 26.64% -34.25% -64.72% -8.90%
81 Yonkers, NY 4.10% 7.80% -39.31% -73.29% 0.07%
82 Atlanta, GA 3.70% 20.01% -37.24% -67.37% -8.92%
83 Cheyenne, WY 3.20% 14.94% -30.34% -53.60% -12.48%
84 Portland, OR 3.60% 18.04% -39.67% -72.20% 9.47%
85 Fresno, CA 4.60% 22.63% -50.47% -67.76% -24.78%
86 Casper, WY 4.00% 6.48% -40.19% -63.61% -3.41%
87 Charleston, SC 2.80% 10.78% -22.76% -67.07% 19.56%
88 Billings, MT 2.90% 25.14% -19.41% -58.04% -17.25%
89 Louisville, KY 3.70% -10.04% -37.81% -36.49% -14.57%
90 Lincoln, NE 2.50% 29.01% -11.31% -55.92% -19.23%
91 Tallahassee, FL 3.40% 23.99% -33.31% -61.01% -8.68%
92 Pittsburgh, PA 4.30% 8.14% -39.13% -66.83% -9.58%
93 Madison, WI 2.80% 30.41% -22.88% -60.87% -5.72%
94 Indianapolis, IN 3.50% 24.80% -35.00% -69.27% 3.06%
95 Irving, TX 3.60% 11.65% -35.77% -65.86% 10.92%
96 Austin, TX 2.90% 16.09% -27.94% -64.37% 20.70%
97 San Bernardino, CA 4.80% 11.49% -55.08% -69.37% -2.91%
98 Raleigh, NC 3.60% 10.75% -25.22% -63.00% -4.19%
99 Oklahoma City, OK 3.40% 19.52% -36.74% -61.03% 10.03%
100 Durham, NC 3.50% 12.20% -24.76% -60.49% -0.91%
101 Worcester, MA 4.60% 9.85% -44.31% -74.46% 10.29%
102 Plano, TX 3.30% 15.05% -27.25% -58.93% 10.42%
103 Jackson, MS 5.00% 16.54% -39.55% -65.96% -29.44%
104 Charleston, WV 4.00% 26.18% -32.67% -65.41% -8.99%
105 Tucson, AZ 4.30% 17.35% -35.24% -58.98% -15.52%
106 Arlington, TX 3.90% 10.44% -33.63% -64.04% 14.24%
107 Columbus, OH 3.90% 27.03% -33.71% -65.87% 0.70%
108 Spokane, WA 4.50% 3.56% -20.86% -62.65% -19.80%
109 Glendale, CA 4.90% 15.24% -53.97% -74.66% 16.78%
110 Nashville, TN 3.50% 22.10% -29.15% -71.17% 25.59%
111 Garland, TX 3.80% 11.24% -30.58% -61.00% 13.36%
112 Tulsa, OK 3.70% 19.27% -33.86% -60.40% 12.96%
113 Albuquerque, NM 4.40% 20.04% -41.76% -53.07% -13.98%
114 Gulfport, MS 4.80% 23.10% -33.51% -64.19% -27.14%
115 Charlotte, NC 4.00% 12.58% -27.25% -62.67% 5.02%
116 Amarillo, TX 3.20% 16.22% -26.14% -53.53% 18.87%
117 Huntington, WV 4.20% 26.15% -28.05% -62.06% -15.69%
118 Fort Smith, AR 3.50% 19.20% -19.36% -55.37% -2.29%
119 Vancouver, WA 4.60% 6.80% -25.53% -64.16% -9.45%
120 Nampa, ID 3.20% 28.08% -18.91% -58.44% 5.44%
121 Huntsville, AL 3.00% 43.00% -14.47% -63.79% -1.51%
122 Lewiston, ME 3.70% 14.55% -44.33% -51.58% 27.39%
123 Dallas, TX 4.00% 13.15% -33.23% -61.57% 16.46%
124 Salem, OR 3.90% 25.59% -32.35% -57.33% -0.59%
125 Aurora, IL 4.50% 5.59% -29.60% -65.46% 6.34%
126 Honolulu, HI 4.00% 17.78% -32.72% -73.65% 30.27%
127 Stockton, CA 5.70% 11.50% -49.02% -65.97% -17.49%
128 Montgomery, AL 4.10% 26.48% -35.23% -69.96% 16.73%
128 Birmingham, AL 4.10% 32.47% -30.77% -69.78% 3.57%
130 Buffalo, NY 5.20% 6.21% -37.01% -69.53% 1.48%
131 Newark, NJ 5.90% 2.73% -52.08% -71.60% 2.28%
132 Rochester, NY 5.30% 4.36% -37.82% -66.43% -2.00%
133 Columbus, GA 4.50% 20.32% -27.39% -57.19% -15.84%
134 Little Rock, AR 4.10% 15.20% -31.26% -59.48% 14.77%
135 Long Beach, CA 5.30% 13.86% -49.31% -70.51% 11.59%
136 Mobile, AL 4.60% 26.87% -32.52% -70.25% 1.75%
137 Tacoma, WA 5.10% 4.71% -24.45% -66.93% -7.98%
138 San Antonio, TX 4.00% 15.58% -30.05% -60.23% 22.97%
139 Toledo, OH 5.10% 21.70% -36.84% -69.26% -1.77%
140 Los Angeles, CA 5.30% 14.32% -47.20% -70.47% 15.06%
141 Grand Prairie, TX 4.20% 14.64% -31.17% -60.28% 21.53%
142 Baton Rouge, LA 5.10% 31.05% -39.62% -62.48% -11.20%
143 Cincinnati, OH 4.60% 32.60% -28.87% -65.78% -3.60%
144 Santa Clarita, CA 5.10% 20.39% -43.88% -69.25% 16.33%
145 Fort Worth, TX 4.20% 18.66% -32.23% -58.16% 21.68%
146 Columbia, SC 4.10% 5.36% -19.59% -49.96% 12.19%
147 Winston-Salem, NC 4.60% 12.92% -25.20% -58.43% 4.85%
148 Greensboro, NC 4.80% 10.58% -25.85% -61.72% 5.58%
149 Akron, OH 5.00% 30.42% -33.45% -66.20% -6.40%
150 Lexington-Fayette, KY 3.50% 22.05% -24.24% -28.20% -4.60%
151 Augusta, GA 4.60% 21.43% -26.35% -50.79% -11.75%
152 Lubbock, TX 3.80% 26.24% -28.64% -50.81% 20.17%
153 Laredo, TX 4.70% 12.22% -33.17% -58.57% 19.17%
154 New Haven, CT 5.10% 7.89% -43.39% -55.81% 18.80%
155 Houston, TX 4.70% 12.43% -30.79% -60.85% 21.47%
156 Henderson, NV 5.10% 8.96% -30.29% -71.68% 28.51%
157 El Paso, TX 4.70% 12.36% -29.62% -56.78% 20.60%
158 Knoxville, TN 4.00% 33.12% -14.49% -58.07% 7.38%
159 Milwaukee, WI 5.40% 12.22% -33.88% -59.02% 5.56%
160 Chattanooga, TN 4.80% 29.48% -31.66% -60.19% 11.06%
161 Shreveport, LA 5.60% 22.69% -35.25% -58.20% -7.74%
162 Grand Rapids, MI 5.30% 14.22% -26.51% -67.78% 18.01%
163 Philadelphia, PA 6.20% 6.83% -39.91% -64.71% 5.51%
164 Las Cruces, NM 4.90% 45.71% -34.50% -45.76% -19.75%
165 Washington, DC 5.40% 12.43% -33.17% -39.71% -9.36%
166 Las Vegas, NV 5.90% 8.49% -35.74% -73.02% 26.94%
167 Bridgeport, CT 6.30% 5.66% -42.46% -62.15% 20.33%
168 Chicago, IL 5.70% 17.31% -38.19% -62.03% 26.61%
169 Corpus Christi, TX 5.40% 13.59% -28.91% -52.63% 25.37%
170 New York, NY 6.10% 6.83% -44.46% -66.02% 47.72%
171 New Orleans, LA 6.50% 21.18% -39.49% -64.20% 15.94%
172 Baltimore, MD 6.10% 21.54% -27.93% -44.73% 11.55%
173 Fayetteville, NC 6.40% 12.51% -22.78% -51.38% 12.99%
174 North Las Vegas, NV 6.90% 10.98% -31.81% -69.15% 46.21%
175 Wilmington, DE 7.20% 16.08% -27.14% -63.66% 20.13%
176 Memphis, TN 6.90% 25.71% -30.20% -56.95% 36.48%
177 Cleveland, OH 7.70% 7.98% -22.36% -61.90% 24.90%
178 Brownsville, TX 7.10% 16.36% -24.38% -43.92% 22.81%
179 Dover, DE 8.00% 17.80% -33.11% -60.70% 27.83%
180 Detroit, MI 10.10% -3.49% -38.19% -72.23% 8.77%


Phoenix Developer Buys Land to Make way for SpringHill Suites – Opening Summer 2023 in Marana

MARANA, ARIZONA — The new SpringHill Suites site is located in Marana, a growing Northwest suburb of Tucson. The site is on approximately 2 acres off Marana Center Blvd across from the Tucson Premium Outlet mall, near the I-10 and West Twin Peaks Rd intersection.

Phoenix-based developer, HCW, purchased the land for $1.3 million ($14.88 PSF) from an affiliate of Vintage Partners, VP Marana Investments. The transaction closed on July 27, 2022.

The development is a 4-story, 96-room SpringHill Suites by Marriott hotel.  The first floor is approximately 12,900 square feet and total building area on all four floors will be approximately 51,641 square feet.  The hotel will feature a lobby/lounge area with an adjacent exterior social patio, indoor fitness and an exterior pool and sun deck.  The exterior will feature a contemporary design with stucco finishes with a neutral off-white field color and accents of blue and brown following prototype standards.  The landscaping theme will embellish a desert oasis type environment of native indigenous and non-native species and will be of sufficient intensity to create a pleasant and comfortable resort atmosphere for the hotel guest.

This will be HCW’s 2nd SpringHills Suites by Marriott hotel, the first opened in Goodyear, AZ in August 2020.

SpringHill Suites is a brand of hotels operated by Marriott International. Geared toward the upper-moderate lodging segment of the hospitality industry, the chain consists of all-suite hotels. Amenities include spacious suites, mobile check-in, free-WIFI, complimentary breakfast, in-suite workspaces, fitness center, 24-hour market and Airy beds. You can also enjoy a night in at the Springhill Suites with a full selection of hand-picked wines, local craft beers and tasty food options. Learn more at springhillsuites.marriott.com.

To learn more about this transaction, see RED Comp #10089.



ABI Multifamily Brokers 30-Unit North Central Phoenix Apartment Community for $6.65 Million

PHOENIX, ARIZONA – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $6,650,000 / $221,667 Per Unit / $273.61 Per SF sale of Olive Gardens, a 30-unit multifamily apartment community located in Phoenix, Arizona. ABI Multifamily’s Mitchell Drake, Dallin Hammond, and Carson Griesemer represented the buyer in this transaction.The buyer is based in Arizona and the seller is based in Canada.Built in 1970, Olive Gardens is a 30-unit garden-style apartment community, resting on a .88-acre site. The property consists of 6 rental buildings constructed of block construction and features a mix of 2 one-bedroom / one-bath units, 24 two-bedroom / one-bath units, and 4 two-bedroom / one-and-one-half-bath units. Residents are sure to enjoy the amenities the property has to offer, including private patios, ample covered parking, a community swimming pool, and common area.Olive Gardens is located within the North Central Phoenix submarket between the I-17 and less than two miles from the SR-51 freeway. The property sits just a few miles from the Biltmore area, four miles north of Downtown Phoenix, and has easy access to all the dining, entertainment, and employment opportunities of both Uptown and Midtown Phoenix. Olive Gardens is situated in a location that allows residents to achieve the ideal work-life balance.ABI Multifamily (https://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson, San Diego, and Las Vegas, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.