Valley’s Upper Crust Apartment Communities Continue Steep Price Climb

Article originally posted on Phoenix Business Journal on March 27, 2024

What a difference five years can make.

Phoenix’s multifamily market is an example of how a variety of factors — a global pandemic, widespread material shortages, inflation and a looming credit crunch, to name a few — can drive big changes in a relatively short window.

Perhaps no statistic crystallizes the Valley’s evolving multifamily market as efficiently as this: the most expensive one-bedroom apartment on the Phoenix Business Journal’s 2019 Luxury Apartments list wouldn’t be pricey enough to make the 2024 list, according to the latest data.

Read complete article here: https://www.bizjournals.com/phoenix/news/2024/03/27/luxury-apartments-list-rates-skyrocket.html?cx_testId=40&cx_testVariant=cx_9&cx_artPos=3#cxrecs_s