Phoenix apartment market kicks off 2026 with positive rent growth
January’s gain marks the second consecutive month of rising rents
Valley apartment rents started the new year on solid footing, following sluggish performance through most of 2025.
Despite slowdown, Arizona remained a top state for population growth in 2025
Weaker international net migration crimps gains
Newly released data from the U.S. Census Bureau reaffirms that, even with moderation from the previous year, Arizona remains among the nation’s top demographic performers.
Arizona ranks in top five for state-to-state net migration
Affordability, job opportunities, climate help attract new residents
Arizona remained a top destination for domestic movers, according to recently released geographic mobility data from the U.S. Census Bureau.
Reno, Nevada, multifamily rent growth accelerated in 2025
Healthy performance occurred across the quality spectrum
The average asking rent for Reno, Nevada, multifamily properties rose 3.6% in 2025, the strongest year-end gain since 2021.
Phoenix apartment rent growth finished 2025 in negative territory for third straight year
Persistent supply pressure overwhelms sturdy demand drivers
The average asking rent for Phoenix apartment properties fell 3% in 2025, the largest annual decrease since the Great Recession.
Phoenix apartment investors turning their attention toward vintage properties
Properties built from 2000 to 2019 lead all age tranches in sales
Investment sales volume in the Phoenix apartment market has been slowly returning, though the source of growth is shifting.
Reno, Nevada, apartment market poised for further recovery in 2026
Dropoff in supply additions supports vacancy improvement
After a turbulent few years marked by pandemic-driven supply imbalances, Reno, Nevada’s apartment market is continuing its steady climb back toward stability. Taking 2024 as an inf...
Phoenix wages and incomes have outpaced apartment rent growth for over three years
Sustained salary gains amid falling rents support affordability and renter demand
Following rapid increases in the years following the onset of the pandemic, Phoenix apartment rents have swiftly reversed course, with 2025 shaping up to be the third consecutive y...
Phoenix logistics market shifts toward modern warehouses
Newly constructed facilities captured nearly all occupancy gains in 2025, as older industrial spaces saw losses
Tenant demand for large logistics buildings in Phoenix stayed strong in 2025, but companies are favoring newly built properties over older ones.
Phoenix office sublease availabilities trending down
Relative affordability, move-in readiness support tenant appetite for space
The total amount of office space available for lease in Phoenix decreased to about 34 million square feet in the third quarter of 2025, down from more than 36 million square feet i...
Phoenix apartment rents continued to slide in November
Lower-tier properties held their ground
Phoenix apartment rents slipped another 0.4% in November, extending the market’s losing streak to 10 consecutive months. Asking rents are now down 3.2% year-to-date, double the 1.6...
Phoenix cracks the nation’s top five ranking for retail rent growth
Healthy tenant demand meets low space availability to spur gains
The average asking rent at Phoenix retail properties rose 4.9% annually in the third quarter of 2025, the fifth-largest gain in the United States among major retail markets.
These Phoenix industrial submarkets are among the nation’s leaders in sales volume in 2025
Flurry of mega deals powers robust investment activity
About $4.3 billion worth of industrial properties traded hands in Phoenix so far in 2025.
Nine straight months of declines push Phoenix multifamily rents down nearly 3%
Continued construction keeps market imbalanced, pushing apartment vacancies to highest level in over a decade
Apartment rents in Phoenix dropped again in October, falling 0.8%. This is the ninth month in a row of declines and the biggest monthly drop so far this year.
Phoenix medical office market shows further signs of stabilization in 2025
Pickup in demand meets modest supply pipeline to stem rise in vacancy
The Phoenix medical office market has performed well so far this year, bouncing back after a challenging 2024, according to CoStar’s latest Medical Office Report.
As Spurs-Suns rivalry heats up, hot Phoenix and San Antonio commercial real estate markets cool down
Following years of rapid expansion, the two cities are headed for slower growth
While the San Antonio Spurs and the Phoenix Suns are set to reignite their NBA rivalry, both Phoenix and San Antonio are facing a broader slowdown in the Sun Belt that threatens to...
Phoenix apartment market sees its worst month of rent loss of 2025
Rent performance varies widely throughout the Valley
The average asking rent at Phoenix multifamily properties decreased 0.6% in September 2025, the eighth consecutive month without positive growth and the largest monthly decline so ...
Apartment vacancy has turned the corner in Reno, Nevada
Recovery supported by pullback in supply additions, steady renter demand
Following five years of wheeling performance, conditions are improving in the Reno multifamily market.
Arizona is the big winner of the latest job data revision
Phoenix, Tucson rank in the top 10 among markets with the biggest positive adjustment
The Bureau of Labor Statistics recently released a preliminary look at its benchmark revision of annual job data, estimating that total U.S. nonfarm employment in March 2025 was 91...
Phoenix apartment rent losses compound in August
Glut of excess inventory keeps competition for prospective renters elevated
The Phoenix multifamily market is in a persistent state of fundamental imbalance, keeping vacancy elevated and rents on the decline.