April 25, 2025 9:42 pm
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COVID hasn’t deterred apartment development in the Valley

By AZRE | AZ Big Media

Despite COVID-19 and all that has happened in 2020, apartment development hasn’t been deterred as some thought it might be.

A little over 292,000 new market-rate apartments have gotten off the ground in the nation’s 150 largest markets in 2020. That wasn’t far off from annual volumes that hovered at a little more than 300,000 units during the previous five years.

Nearly 592,000 units were under way across the nation at the end of 3rd quarter 2020. Phoenix was one of the top performers in apartment development, with 17,215 of apartment starts in 2020.

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