Most new metro Phoenix apartments are high-end

By Catherine Reagor | Arizona Republic

Metro Phoenix’s apartment boom is a pricey one.

About 87 percent of all the new rental complexes to go up in the Valley in 2017 and this year are luxury apartments, according to new survey.

Renters looking for apartments they can afford in the Phoenix area won’t be surprised by that statistic. Many of the new complexes to dot central Phoenix and Scottsdale come with rents of higher than $1,500 a month — that’s a mortgage payment for many of us.

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