Apartment Rent Growth Trends Continue in Early 2019 as Phoenix Enjoys a ‘Golden Age’ for Multifamily Property.

 

 

 

 

 

 

“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “   

Please check maps if your Land or Commercial Property is in the Opportunity Zone, IF SO CONTACT ME / THIS IS FOR SELLER’S AND BUYER’S.

ARE YOU READY TO SELL OR PURCHASE YOUR INDUSTRIAL / OFFICE OR RETAIL BUILDING OR YOUR  LAND  in Phoenix, Maricopa County and Pinal County, Arizona, please call me.

Also Call me if you need an estimated value of your Property.  Direct : 602-759-1209,  Prefer cell: 520-975-5207,   or email me walterunger@ccim.net.       CLICK HERE TO VIEW ALL MY LISTINGS.    

EVENTS & MEETINGS That Matter. Townhall Meeting Wednesday March 27.

 

MARCH 21, 2019|MICHAEL PETRIVELLIEMAILPRINT.

Phoenix has consistently ranked among the top multifamily rent growth markets in the nation in recent years, and strong rent gains early in 2019 indicate no change in that trend is expected any time soon.

The Phoenix multifamily market is in the midst of a golden age, with vacancies trending near all-time lows despite an ongoing construction boom. Robust job and population growth, buttressed by strong in-migration from residents of pricey coastal markets, are fueling unprecedented housing demand.

In recent years, apartments located in areas with low rents, limited new construction, and tight vacancies experienced the strongest rent gains. Submarkets with large but dated inventories and strong demand for workforce housing, such as East Valley and Deer Valley, epitomized this trend.

The affordability dynamic has sustained above-average rent gains in the East Valley and Deer Valley submarkets so far this year. Vacancies in these areas are among the lowest in metro Phoenix, and apartment construction has only recently seen an uptick after being overlooked by developers for most of this economic cycle.

Several of the more affluent neighborhoods in Phoenix featuring new, luxury units have also seen a surge in year-over-year rent increases.

In early 2019, Chandler, a city southeast of Phoenix, is boasting the strongest apartment rent growth in the metro region by a considerable margin. Supply-driven pressure has not, to this point, had a dampening effect on slowing rent growth in Chandler.

This mirrors the dynamic playing out in the larger metropolitan area. In fact, rent gains are accelerating from last quarter’s robust figures, and Chandler’s Class A units are outperforming its Class B and C apartments.

Part of the reason for this trend stems from the fact that average rents the premium Class A apartments are not much more expensive than Class B units—a 16 percent premium in Chandler versus a 33 percent gap for the Phoenix market as a whole. The narrow price difference entices many renters to move up to a higher-quality unit at a minimal cost.

Planning efforts and infrastructure improvements over the course of a few decades have transformed Chandler from farm town to tech hub. Since 2000, the population has grown from 177,000 to roughly 250,000. Companies such as Intel, Allstate Insurance, Deloitte and Orbital ATK are in various stages of expansion with plans to add thousands of jobs in the area.

At the other end of the multifamily rent spectrum, strong demand from renters in swanky Old Town Scottsdale has also driven average rents higher despite elevated levels of construction. Although it already commands some of the highest rental rates in Phoenix, the submarket’s rent growth is outperforming the metropolitan area’s average this quarter.

Unlike Chandler, Class A apartment units in Old Town Scottsdale command a hefty premium over less-expensive Class B units—roughly 45 percent—steering many renters seeking affordability to the middle segment of the market.

Multifamily investors should have plenty of opportunities to capitalize on the nation-leading rent growth in the Phoenix apartment market if current job and population trends hold.

However, any slowdown in the national economy would likely impact the local market as it did last cycle.

SEE IT ALL:  https://product.costar.com/home/news/1443790815?market=29

 

FROM ME:                                                                      

Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land  Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties. I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group.  I also sold  hundreds millions of dollars’ worth of  Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with  brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also internationalClick here to find out what is a   CCIM:   https://en.wikipedia.org/wiki/CCIM 

PLEASE CALL ME –  Direct : 602-759-1209 , cell: 520-975-5207 or email me walterunger@ccim.net       CLICK HERE TO VIEW ALL MY LISTINGS

Please check maps if your Land or Commercial Property is in the Opportunity Zone, IF SO CONTACT ME / THIS IS FOR SELLER’S AND BUYER’S.

WEEKLY LAND SALES

WEEKLY LAND CLOSING UPDATE / MARCH 15, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLOSING UPDATE / MARCH 8, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLOSING UPDATE / MARCH 1, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLOSING UPDATE / THROUGH February 22, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLOSING UPDATE / THROUGH February 15, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLOSING UPDATE / THROUGH February 8, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLOSING UPDATE / THROUGH February 1, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLOSING UPDATE / THROUGH JANUARY 25, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLOSING UPDATE / THROUGH JANUARY 18, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLOSING UPDATE / THROUGH JANUARY 11, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLOSING UPDATE / THROUGH JANUARY 4, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL SALES

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH March 15, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH March 8, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH March 1, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH February 22, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH February 15, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH February 8, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH February 1, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH JANUARY 25, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH JANUARY 18, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

 

WEEKLY APARTMENT SALES

WEEKLY APARTMENT CLOSING UPDATE THROUGH March 15, 2019, Phoenix Arizona Metro.

WEEKLY APARTMENT CLOSING UPDATE THROUGH March 8, 2019, Phoenix Arizona Metro.

WEEKLY APARTMENT CLOSING UPDATE THROUGH March 1, 2019, Phoenix Arizona Metro.

WEEKLY APARTMENT CLOSING UPDATE THROUGH February 8, 2019, Phoenix Arizona Metro.

WEEKLY APARTMENT CLOSING UPDATE THROUGH February 1, 2019, Phoenix Arizona Metro.

WEEKLY APARTMENT CLOSING UPDATE THROUGH January 25, 2019, Phoenix Arizona Metro.

WEEKLY APARTMENT CLOSING UPDATE THROUGH January 18, 2019, Phoenix Arizona Metro.

WEEKLY APARTMENT CLOSING UPDATE THROUGH January 11, 2019, Phoenix Arizona Metro.

WEEKLY APARTMENT CLOSING UPDATE THROUGH January 4, 2019, Phoenix Arizona Metro.

 

 

Walter Unger CCIM

Senior Associate Broker

Kasten Long Commercial Group

5110 N 40th Street, Suite 110

Phoenix , AZ 85018

CELL: 520-975-5207

Direct: 602-759-1209

Office: 602-445-4112

Fax:       602-865-7461

walterunger@ccim.net

CLICK HERE TO VIEW ALL MY LISTINGS

www.Walter-Unger.com

www.KLCommercialGroup.com

What is a CCIM.

 

 

 “You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “  ARE YOU READY TO SELL OR PURCHASE YOUR INDUSTRIAL / OFFICE OR RETAIL BUILDING OR YOUR  LAND  in Phoenix, Maricopa County and Pinal County, Arizona, please call me.  Office: 602-445-4113,  Direct : 602-759-1209 , cell: 520-975-5207 or email me walterunger@ccim.net.  … CLICK HERE TO VIEW ALL MY LISTINGS.

 Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE     

CLICK HERE:  Arizona Opportunity Zones As We Understand /maps. Interested!!! Please contact me.

History of Arizona from  900 BC – 2017 -Timeline.

WHY PHOENIX? AMAZING!!!  POPULATION – IN 1950 THERE WERE 331,700 PEOPLE LIVING IN PHOENIX – “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

PHOENIX TOPS US IN POPULATION GROWTH (MORE THAN LA, NYC) AND WHY THAT’S GOOD FOR THE ECONOMY, BUSINESS

 

8 Reasons You Should Invest in Land

History of Arizona from  900 BC – 2017 -Timeline.

 

WHY PHOENIX? AMAZING!!!  POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

PHOENIX TOPS US IN POPULATION GROWTH (MORE THAN LA, NYC) AND WHY THAT’S GOOD FOR THE ECONOMY, BUSINESS

DOT – LOOP 202 / SOUTH MOUNTAIN FREEWAY / PHOENIX AZ – UNDER CONSTRUCTION

ARIZONA FACTS – YEAR 1848 TO 2013

VIEW ALL OF WALTERS LISTINGS

What is a CCIM.

CLICK HERE TO VIEW MY WEBSITE

  • DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
  • The average age of the population is 34 years old.
  • The health cost index score in this area is 102.1. (100 = national average)
  • Here are some of the distributions of commute times for the area: <15 min (22.7%), 15-29 min (36.8%), 30-44 min (25.1%), 45-59 min (8.6%), >60 min (6.8%).

PHOENIX PROJECTED AS NUMBER ONE US HOUSING MARKET FOR 2017

LIST OF ECONOMIC DEVELOPMENT PROJECTS IN PINAL COUNTY, REVISED 2-14-17

Reasons to Consider me for Commercial Referrals – I have the Knowledge and Experience                                                                                                                         

Click here to View My Listings and Profile

Click here to find out what is a CCIM:

Click here to view my website:

Click her to join my mailing list :      

Walter Unger CCIM –  walterunger@ccim.net   – 1-520-975-5207  –  http://walter-unger.com

2016 Official Arizona Visitors Guide

Visit Arizona

Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950

Timeline of Phoenix, Arizona history

Phoenix, Arizona

Facts of Arizona – year 1848 to 2013

Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.

Walter Unger CCIM

Senior Associate Broker

Kasten Long Commercial Group

5110 N 40th Street, Suite 110

Phoenix , AZ 85018

Direct: 602-759-1209

CELL: 520-975-5207

Office: 602-445-4112

Fax:       602-865-7461

walterunger@ccim.net

CLICK HERE TO VIEW ALL MY LISTINGS

www.Walter-Unger.com

www.KLCommercialGroup.com

What is a CCIM.

 

“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “   

Please check maps if your Land or Commercial Property is in the Opportunity Zone, IF SO CONTACT ME / THIS IS FOR SELLER’S AND BUYER’S.

ARE YOU READY TO SELL OR PURCHASE YOUR INDUSTRIAL / OFFICE OR RETAIL BUILDING OR YOUR  LAND  in Phoenix, Maricopa County and Pinal County, Arizona, please call me.

Also Call me if you need an estimated value of your Property.

Call me if you want to see a map with what is in the Construction Pipeline for Apartments.

Direct : 602-759-1209,  Prefer cell: 520-975-5207,   or email me walterunger@ccim.net.       CLICK HERE TO VIEW ALL MY LISTINGS.    

 

Check out my professional profile and connect with me on LinkedIn.

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 Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages.  The interactive map  shows the location of each community (10+ units) and each location is color coded by the size (number of total units). 

 Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years.  If you have any questions about Commercial / Investment Properties in Phoenix or Commercial /  Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us. 

Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207

www.Walter-Unger.com

 

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me.

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