By Terrance Thornton | Buckeye Independent
From 2016 to 2020 the Phoenix metropolitan area experienced a shift from 5.8% to 3.9% in vacancy rate for all multifamily dwellings meanwhile rents overall saw an increase from $981 to $1,210 over the same time period.
From 2016 to 2020 the Phoenix metropolitan area experienced a shift from 6% to 4.5% in vacancy rate for all Type-A multifamily dwellings meanwhile that subset of the market saw an overall average rent increase from $1,150 to $1,460 from 2016 to 2019.
In the grand scheme of things, affordable housing — typically envisioned as multifamily layered development including single-family detached and attached dwellings — is a fair and balanced way to describe Phoenix metropolitan housing stock.
