Rental Boom is Boon to Phoenix Economy

PHOENIX—The apartment industry emerged as one of the strongest sectors coming out of the Great Recession, and a new study shows just how much the Phoenix economy benefited from the rental boom. In 2013–the latest numbers available–apartment construction, operations and resident spending contributed $9.9 billion locallyand supported 99,900 jobs in the metro area.

The economic data are part of new research commissioned by the National Multifamily Housing Council and the National Apartment Association, which looks at dollars and jobs from apartment construction, operations and resident spending, nationally, by state and in 40 specific metro areas, including Phoenix.