Phoenix is the 8th largest multifamily market with 338,968 completed units and 109,641 units in development, 36,271 of which have already broken ground, as of August 2022.
Phoenix Multifamily Market Summary – August 2022
New lease asking rents are at $1,684, up 9.5%▲
from the previous year placing Phoenix at 70th
overall in year-over-year rent growth.
Phoenix Multifamily Market Summary – July 2022
New lease asking rents are at $1,692, up 13.3%▲
from the previous year placing Phoenix at 40th
overall in year-over-year rent growth.
Phoenix Multifamily Market Summary – June 2022
New lease asking rents are at $1,689, up 16.8%▲
from the previous year placing Phoenix at 22nd
overall in year-over-year rent growth.
Phoenix Multifamily Market Summary – May 2022
New lease asking rents are at $1,667, up 18.1%▲
from the previous year placing Phoenix at 15th
overall in year-over-year rent growth.
Phoenix Multifamily Market Summary – April 2022
New lease asking rents are at $1,665, up 20.6%▲
from the previous year placing Phoenix at 10th
overall in year-over-year rent growth.
Phoenix Multifamily Market Summary – March 2022
New lease asking rents are at $1,657, up 23.1%▲
from the previous year placing Phoenix at 6th
overall in year-over-year rent growth.
Phoenix Multifamily Market Summary – February 2022
New lease asking rents are at $1,652, up 25.3%▲
from the previous year placing Phoenix at 5th
overall in year-over-year rent growth.
Phoenix Multifamily Market Summary – January 2022
New lease asking rents are at $1,640, up 25.6%▲
from the previous year placing Phoenix at 4th
overall in year-over-year rent growth.
Phoenix Multifamily Market Summary – December 2021
New lease asking rents are at $1,618, up 25.3%▲
from the previous year placing Phoenix at 2nd
overall in year-over-year rent growth.
