January 29, 2025
Matrix Multifamily Phoenix Report-January 2025
Deliveries Weigh Down Rents in Phoenix
The 15,703 units delivered in Phoenix in 2024 through November muted growth in average advertised asking rents, down 0.4 percent on a T3 basis to $1,564. Construction activity remained high, with 36,842 units underway, nearly half of which broke ground last year.
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