For Multifamily Executive, Hamilton Zanze CEO Kurt Houtkooper details the reasons for optimism about the multifamily market and his company’s plans for 2024.Read
Multifamily Occupancy and Rents Rise in Phoenix
In Phoenix, both occupancy and effective rent growth are on the rise. During May 2013, effective rent growth rose to 3.12%, an increase from the 1.88% reported during the same time the year prior. Overall occupancy was 93.3%, which is slightly up from 92.9% in May 2012. Inventory was also up slightly to 150,262 units, up from 144,041 units in May 2012.
Breaking the statistics down by class, Class C product had more noticeable hikes in rent and occupancy figures:
Read the full article at the GlobeSt.com