Jessica Morin Jessica Morin

The Phoenix multifamily market will benefit from its late-cycle start. Phoenix was hit hard by the Great Recession and took several years to recover—much later than other cycles. As a result, the market is expected to have a long runway of growth ahead and will likely suffer a reduced impact during the next downturn. According to research from CBRE, Phoenix has the second-highest rent growth in the nation, behind Las Vegas with a constrained construction pipeline.

“The Phoenix multifamily market is benefiting from its position as one of the top markets in the country for job and population growth,” Jessica Morin, senior research analyst at CBRE, tells GlobeSt.com. “Phoenix arrived later to the recovery than other markets, but its growth has been sizeable over the last several years while other markets are beginning to slow.”

Recommended For You

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.