By Brent Ruffner | YourValley
Some Valley renters in multifamily units have moved up in their quality of living thanks to recent perks from developers and a flood of new units expected during the next 18 months.
About 30,000 multifamily units are expected to be completed during the next six quarters in metro Phoenix and residents are benefiting, said Thomas Brophy, a housing analyst at Colliers in Phoenix
Incentives range from a month of free rent or free to discounted internet.
“(People are moving toward) higher asset classes and it’s cheaper (to do so) than at any point in the last 12 years,” Brophy said. “People can trade up.”
For instance, the Class B apartment class — where renters save an average of $1,041 over 12 months — grew by 99.4% year-over-year from renters moving into that asset class, Brophy said.
