Phoenix Multifamily Market Report - Q1 2026

This Kidder Mathews report analyzes the Phoenix multifamily market in first quarter 2026, presenting data on vacancy rates, rental prices, construction activity, and significant transactions across the region. Key findings include a vacancy rate of 11.8% (down 10 basis points year-over-year), average asking rents of $1,535 per unit (down 3% year-over-year), construction deliveries of 2,978 square feet (down 28% year-over-year), and average sales prices of $221,942 per unit (down 12% year-over-year).