Phoenix apartment rents get off to a hot start in opening month of 2025
The average asking rent in metro Phoenix rose 0.5% in January, bringing growth closer to pre-pandemic norms.
The increase is a relief to multifamily owners and managers who have dealt with two years of overall losses.
Still rapid housing construction is driving many new properties to provide generous move-in discounts. As much as six to eight weeks of free rent is now standard at many communities.
