November 21, 2024 3:57 pm
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Metro Phoenix almost doubles its apartment construction

Edison Midtown has started construction on Phase II.

By Rent Cafe | AZ Big Media

The most anticipated RentCafe report is out – and do we have some news. No less than 420,000 new apartments are expected to be built nationwide by the end of this year. and Metro Phoenix has seen a staggering increase of 90% in apartment construction.

And considering 2021 as well, the last time apartment deliveries went over 400,000 units was in 1972.

Here are the highlights for Metro Phoenix apartment construction:

• Phoenix metro makes a sharp increase of 90% in apartment construction compared to last year, and takes the 6th position nationally in terms of new development, with an estimated 16,600 apartments, on the way. The previous year saw just 8,421 new units coming up in the Valley.

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