By RENTCafe
Office-to-apartment conversions are at a new all-time high, with the pipeline reaching 70,700 units as of 2025. More than two-thirds (68%) of all future apartments retrofitted from offices are located in 20 metros — and Phoenix is one of them, ranking as the nation’s 11th major retrofitter.
Let’s dive into the details:
Phoenix’s office-to-apartment conversions pipeline encompasses 1,634 units. Phoenix is behind Atlanta with 600 units, and behind Chicago with 2,000 units. New York is at the forefront of office-to-apartment conversions with a pipeline of 8,310 units, or 5 times more units than those expected in Phoenix through this type of adaptive reuse.
In Phoenix, office spaces turned residential saw a 19% increase year-over-year. Boston; Jacksonville, FL; Omaha, NE; and Charlotte, NC, saw their pipelines more than double year-over-year, while Los Angeles experienced an 80% increase. At the other side of the spectrum, office-to-apartment conversions in Detroit, Dallas and Cleveland decreased by up to 20% compared to last year.