Matrix Multifamily Phoenix Report-January 2022 January 26, 2022

Phoenix – New Horizons

Phoenix rents rose 25.9% on a year-over-year basis through November, to $1,607, leading all major U.S. markets, while the inventory expansion and investment activity marked new peaks. The job market expanded 7.0% in the 12 months ending in September, reaching a full employment recovery.