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Higher rents and low supply create major shifts in Phoenix multifamily

 Higher rents and low supply create major shifts in Phoenix multifamily

A mismatch of supply and demand has pushed people who would usually buy single-family houses into apartments, which causes higher demand and thus higher rents. And when labor and supply costs are the same no matter whether a developer builds luxury or workforce housing, it’s easy to see why they beef up amenities and charge more. However, that leaves out the “missing middle,” which could be targeted if cities would relax zoning and allow smaller units and higher density.

 

Source: https://azbigmedia.com/real-estate/higher-rents-and-low-supply-create-major-shifts-in-phoenix-multifamily/

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