It's states like Arizona that will have the problem. I lived in Scottsdale. Saw the writing on the wall and we sold the Scottsdale place for an insane amount of money. Having said that, if you can get a place just inside the border of the city of Phoenix, you'll probably be good. Phoenix has been socking away water forever and has about 70 to 100 years worth of it under the city. As a matter of water availability, I'd stay away from places out in the suburban areas though. If you've been paying attention down there, you probably kind of already know that if it comes to a head, Phoenix will take care of Phoenix. Places like Scottsdale, Mesa, or Tempe would be expected to solve their own problems.
I firmly believe things are gonna get heated out in Arizona if the drought persists. No pun intended.