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Multifamily market expected to exceed peak volume

  • ​​Phoenix ranks among the top most active multifamily transaction markets for the first half of 2017,  already reaching over $2.1 billion and expected to exceed peak volume yet again. The market has recorded exceptional growth in the last six quarters and topped the pre-recessionary peak in 2016 with $5.2 billion.
  • Additionally, Phoenix ranks among the top quartile of U.S. metros in terms of rent growth. Despite an active development pipeline and many projects beginning lease-up together, rent growth remains among the strongest in the country.
  • Excellent net migration and employment growth has sustained strong demand for apartment units and is expected to help fill up all of the new properties opening their doors. The Phoenix Metro is quickly approaching its development peak this cycle and is expected to begin to taper off over the forecast horizon.​

Source: JLL Research​

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