Wednesday, November 25, 2020 12:56 am

Expected apartment shortage could raise rent in Tucson even higher

Pima Canyon Apartments on Orange Grove Road west of Oracle Road is renting now but still under construction. /Ron Medvescek / Arizona Daily Star

Within two years, Tucson could face a shortage of more than 1,700 apartments pushing rents to levels not seen before in this market.

In 2017, only 318 new units were brought online and 796 units are now under construction.

Currently, the Tucson metro has a 94 percent occupancy rate, which is four percent above what the city has ever seen, said Thomas Brophy, director of research for ABI Multifamily Apartment Brokerage & Advisory Firm.

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