Phoenix’s regional population is expected to reach 5.2 million by 2022, a 12 percent increase that began back in 2017. Reports rank the city as being home to the second-strongest U.S. multifamily market and Cushman & Wakefield found apartment vacancy rates hovering around 5% at mid-year 2020.
These stats have been fueled by a fast-growing population and an employment rate with stronger gains than those of the national average for the past three years.
“Phoenix has been and will continue to be a primary target market for us. We strongly believe that the job growth and population growth will continue to drive significant housing demand, creating growth for our properties in the market,” says Jim Duey, Milestone’s vice president of acquisitions.
Milestone now owns three properties in the Phoenix market.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
Email the Author
Reach over 250,000 Commercial Real Estate Professionals with Connect
Connect CRE reaches the top commercial real estate players nationwide and across all property types, offering you a variety of ways to showcase your team, your expertise and your brand to CRE decision makers.
ConnectCRE.com
The home for CRE news and everything you need to stay informed on deals, trends, and transactions, providing a platform to get your brand in front of your target audience.
Daily CRE Emails
Reaching over 150,000 inboxes across the nation every day, Connect’s Daily News emails provide advertising opportunities specific to your market.
Bi-Weekly Property Sector Emails
Focus your advertising on emails dedicated to your property sector and stay visible to current and potential clients.
Content Marketing
Position your team as experts in your field with content created by Connect’s editorial team and published on Connect’s news emails. Showcase your intelligence and broaden your reach.
