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Tucson Multifamily Demand Up, Construction Down

TUCSON-Rising home costs seem to be the underlying cause for an apartment demand that's double from last year's Q1 figures. Demand is up and construction is down, according to Hendricks & Partners' latest multifamily report.

By D.J. Burrough | Updated on June 16, 2001

TUCSON-Demand for apartments in Tucson is about double what it had been last year, based on first quarter comparisons. However, construction has slowed.

A total of 808 apartment units had been absorbed in the first quarter, according to a new study by Hendricks & Partners, a Phoenix-based multifamily consulting firm. “The Tucson apartment market demonstrated a strong level of demand in the first quarter, helping to spur moderate rent growth,” says John Hendricks, owner, president and CEO of Hendricks & Partners.

New construction has totaled just 229 units in two communities in comparison to 356 in first quarter 2000. The new units have gone up in east and south Tucson.

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