November 21, 2024 12:12 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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