December 21, 2024 6:00 pm
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How long will Metro Phoenix’s apartment boom last?

Plans for Forty600 call for a seven-floor apartment complex with 155 units and a ground floor, with commercial space including a restaurant with exterior seating facing the Grand Canal and shaded sidewalks. (Rendering courtesy of RAS Development)

By AZ Big Media

RentCafe‘s 2024 Apartment Construction Report unveils surprising trends nationwide, including the Metro Phoenix apartment boom and its role in the market. 

• Metro Phoenix is an apartment construction powerhouse in 2024 (4th busiest builder in the U.S.), set to complete 20,141 apartments by the end of the year, outranked only by New York, Dallas and Austin. 

• What’s more, metro Phoenix is gearing up for a veritable building boom between 2024 and 2028, when a staggering 60,833 units are expected to comeonline. That’s a 22% increase compared to apartments built during the last half a decade.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.