Phoenix Multifamily Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Cushman & Wakefield, Kidder Mathews, Northmarq, Matthews
Quarterly multifamily market indicators for Phoenix, aggregated by CREhunt from Cushman & Wakefield, Kidder Mathews, Northmarq, Matthews. As of Q2 2026, vacancy was 0.8%, per Cushman & Wakefield.
Projected current multifamily pricing — Phoenix
Projected asking rent
$1,562–$1,595/unit/mo
Estimated sale value
$145,166–$185,322/unit
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 multiple brokerages data (cap rate 5.9%, asking rent trend-adjusted to today). Assumes ~88% occupancy and a 52–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Cushman & Wakefield | — | 0.8% | 3 SF | 2K SF | Cushman & Wakefield |
| Q1 2026 Kidder Mathews | $1,535.00/unit/mo | 11.8% | — | — | Kidder Mathews |
| Q1 2026 Cushman & Wakefield | $1,588.00/unit/mo | 12.1% | — | 2K SF | Cushman & Wakefield |
| Q4 2025 Northmarq | — | 7.5% | — | — | Northmarq |
| Q4 2025 Cushman & Wakefield | $1,584.00/unit/mo | 12.8% | 17K SF | 1K SF | Cushman & Wakefield |
| Q3 2025 Northmarq | — | 7.2% | — | — | Northmarq |
| Q3 2025 Matthews | $1,600.00/unit/mo | 12.4% | — | — | Matthews |
| Q3 2025 Cushman & Wakefield | — | 3.2% | 1 SF | 1K SF | Cushman & Wakefield |
| Q2 2025 Cushman & Wakefield | $1,615.00/unit/mo | 6.9% | 1K SF | — | Cushman & Wakefield |
| Q2 2025 Matthews | $1,587.00/unit/mo | 12.1% | — | — | Matthews |
| Q1 2025 Cushman & Wakefield | $1,200.00/unit/mo | 7.0% | 0 SF | — | Cushman & Wakefield |
| Q3 2024 Cushman & Wakefield | — | — | 2K SF | — | Cushman & Wakefield |
| Q2 2024 Cushman & Wakefield | — | 4.1% | — | — | Cushman & Wakefield |
| Q1 2024 Cushman & Wakefield | — | 2.9% | — | — | Cushman & Wakefield |
| Q4 2023 Cushman & Wakefield | — | 3.7% | — | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for multifamily space in Phoenix?
- CREhunt aggregates multifamily asking-rent data for Phoenix from major brokerage market reports; see the quarterly table for the latest available figures.
- What is the multifamily vacancy rate in Phoenix?
- The multifamily vacancy rate in Phoenix was 0.8% as of Q2 2026 (Cushman & Wakefield).
- Where does CREhunt's Phoenix market data come from?
- This report aggregates quarterly multifamily market data for Phoenix from Cushman & Wakefield, Kidder Mathews, Northmarq, Matthews.
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