The Phoenix apartment market is showing signs of recovery, with strong renter demand helping offset the impact of elevated supply. The Valley recorded 23,000 units of net absorption over the past 12 months, significantly above the pre-COVID average of 7,200 units and ranking …

The Phoenix apartment market started 2026 on a strong note, with record-high renter demand helping balance new apartment deliveries for the first time since 2021. Over the past 12 months, net absorption reached 22,000 units, significantly exceeding historical averages and positioning Phoenix among …

The Phoenix apartment market had a strong start to 2026, with demand reaching record highs. Over the past 12 months, approximately 21,000 apartment units were absorbed, matching the 21,000 new units delivered and creating the first balance between supply and demand since 2021. …

The Phoenix apartment market continues to experience challenges due to an oversupply of new units, despite strong renter demand. In 2025, approximately 16,000 units were absorbed, but developers delivered 21,000 new apartments, causing the overall vacancy rate to rise to 12.5%. With an …

The Phoenix apartment market continues to experience challenges due to an oversupply of new units, despite strong renter demand. In 2025, approximately 16,000 units were absorbed, but developers delivered 21,000 new apartments, causing the overall vacancy rate to rise to 12.5%. With an …

Phoenix continues to face high vacancies and declining rents due to a major surge in new apartment construction, despite strong demand. Over the past year, 17,000 units were absorbed, but 21,000 new units were delivered in 2025, pushing vacancy to 12.5%.

The Phoenix apartment market continues to struggle with an imbalance between strong demand and excessive new supply. Over the past year, the market absorbed 17,000 units, ranking Phoenix among the top 10 U.S. markets for demand growth. However, developers delivered 21,000 new units …

The Phoenix apartment market continues to face a significant supply–demand imbalance. Despite strong renter demand — with 15,000 units absorbed in the past year, more than double the pre-COVID average — an unprecedented surge in new construction is keeping vacancies high and pushing …

The Phoenix apartment market continues to face challenges due to a persistent imbalance between supply and demand. Although renter demand remains strong— with 16,000 units absorbed over the past year, more than double the pre-COVID average— an unprecedented surge in construction is keeping …

The Phoenix apartment market continues to face an imbalance between supply and demand. Despite solid leasing activity—17,000 units absorbed in the past year, more than double the pre-COVID average—record construction levels are keeping vacancy rates high (12.1%) and rent growth negative.

Over …