{"id":9962,"date":"2025-10-17T09:51:00","date_gmt":"2025-10-17T09:51:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=9962"},"modified":"2026-02-11T09:58:24","modified_gmt":"2026-02-11T09:58:24","slug":"phoenix-multifamily-market-report-september-2025","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/phoenix-multifamily-market-report-september-2025\/","title":{"rendered":"Phoenix\u00a0Multifamily Market Report \u2013 September 2025"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/phoenix-multifamily-market-report\/\">Phoenix Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Growth Challenges Across Fundamentals<\/h2>\n<p>Robust supply growth continued to challenge Phoenix\u2019s multifamily market, marking the third-weakest rent performance among the top 30 metros tracked by Yardi Matrix. Average advertised asking rents fell 2.7% year-over-year, to $1,553 in July. On a trailing three-month basis through July, rates in the metro were down 0.2%. Phoenix\u2019s occupancy rate in stabilized properties slid 20 basis points year-over-year, to 93.1% in June.<\/p>\n<p><iframe id=\"datawrapper-chart-77zbD\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Phoenix vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/77zbD\/1\/\" height=\"336\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}});<\/script><\/p>\n<p>Employment growth was 0.2% year-over-year through May, slower than the 0.8% U.S. rate, as reported by the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>national multifamily market outlook<\/strong><\/a>. Phoenix\u2019s workforce grew by 14,300 net jobs. Gains were recorded in only four sectors, led by education and health services (20,300 jobs) and government (4,800). Six sectors lost 13,100 jobs combined, with the largest losses in transportation and utilities (-4,200). Meanwhile, the metro\u2019s unemployment rate stood at 4.0% in June, 10 basis points below the U.S. and state figures. The metro had several projects underway that will sustain its economic development, including Mayo Clinic\u2019s $1.9 billion expansion at its Phoenix campus and Amkor Technology Inc.\u2019s $2 billion chip packaging and test facility.<\/p>\n<p><iframe id=\"datawrapper-chart-ZD3ru\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Phoenix Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/ZD3ru\/1\/\" height=\"417\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}});<\/script><\/p>\n<p>Developers delivered 9,850 units in 2025 through July and, while new construction moderated, the pipeline remained high, with 32,840 units underway. Investment activity remained slow, reaching $2.1 billion in 2025 through July, while the price per unit fell 1.1% year-to-date, to $267,475.<\/p>\n<p>Read the full Yardi Matrix Phoenix Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/Publications\/Download\/File\/7805-MatrixMultifamilyPhoenixReport-September2025\"><strong>September 2025<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Growth Challenges Across Fundamentals Robust supply growth continued to challenge Phoenix\u2019s multifamily market, marking the third-weakest rent performance among the top 30 metros tracked by Yardi Matrix. Average advertised asking rents fell 2.7% year-over-year, to $1,553 in July. On a trailing three-month basis through July, rates in the metro were down 0.2%. Phoenix\u2019s occupancy rate [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":9514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[513,457],"class_list":["post-9962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2025","tag-phoenix"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Phoenix\u00a0Multifamily Market Report \u2013 September 2025 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Phoenix\u2019s advertised asking rents fell by 2.7 percent YoY to $1,553 in July and occupancy slid to 93.1 percent in June, Yardi Matrix reports.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/phoenix-multifamily-market-report-september-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix\u00a0Multifamily Market Report \u2013 September 2025\" \/>\n<meta property=\"og:description\" content=\"Phoenix\u2019s advertised asking rents fell by 2.7 percent YoY to $1,553 in July and occupancy slid to 93.1 percent in June, Yardi Matrix reports.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/phoenix-multifamily-market-report-september-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-17T09:51:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-11T09:58:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2025\/07\/Phoenix-iStock-2207791108-MHN.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Phoenix\u00a0Multifamily Market Report \u2013 September 2025 - 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