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Multifamily Occupancy and Rents Rise in Phoenix

hamilton-zanze July 15, 2013

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