Matrix Multifamily Phoenix Report-June 2026 June 24, 2026

Phoenix sees a spring gain

Phoenix advertised asking rents rose 0.2 percent on a T3 basis through April to $1,528, the first increase since May 2024. Elevated supply kept rents down 2.7 percent YoY and pulled occupancy 20 bps lower to 93.0 percent in March.