Phoenix Area Needs 150,302 New Apartments by 2030 to Keep Pace with Demand Growth is Due to Aging Population, Immigration, Declining Home Purchases

An aging population, international immigration and fewer home purchases are resulting in an increased need for new apartments. The Phoenix metro area is expected to need 150,302 new apartments by 2030 to keep up with local demand, according to a new study commissioned by the National Multifamily Housing Council (NMHC) and the National Apartment Association…