Phoenix Multifamily Market Stats

[Amber Boskers]

Interesting stats on the Greater Phoenix Multifamily Market by NorthMarq for those thinking about investing here.

- Vacancy ended 2019 at 5.6%

- Asking Rents increased 9.4% in 2019, ending up at $1,175/month

- Median multifamily price spiked at $138,600 per door, approaching $150,000 per door at the end of the year

- Cap rates averaged 5% in 2019

- The number of properties sold in 2019 was the highest annual total since 2006

*Stats from NorthMarq's Q4 2019 Greater Phoenix Market Report