Phoenix employers better weathered the impact of the health crisis than the U.S. overall, which will aid hiring this year. The employment base should climb to within 1 percent of the pre-pandemic level by year end.
While overall renter demand in 2021 is expected to exceed last year's level, historically high construction will temper the decline in the vacancy rate to a value of 3.5 percent, which is a new multidecade low.
The combination of falling vacancy and new, high-priced units coming online will push the average asking rent up to $1,338 per month in 2021. The annual growth rate is generally in line with the trailing five-year average.
Under no circumstances should any material at this site be used or considered as an offer to sell or a solicitation of any offer to buy an interest in any investment. Any such offer or solicitation will be made only by means of the Confidential Private Offering Memorandum relating to the particular investment. Access to information about the investments are limited to investors who either qualify as accredited investors within the meaning of the Securities Act of 1933, as amended, or those investors who generally are sophisticated in financial matters, such that they are capable of evaluating the merits and risks of prospective investments.