In its recently published U.S. Multifamily Outlook, Phoenix ranked #1 on JLL’s list of U.S. markets for Demographics, beating out fellow front-runners Austin, Orlando, Dallas-Fort Worth and Tampa when it comes to a community’s successful mix of population growth, quality of workforce and job opportunities.
A great many sunbelt markets, are projecting high overall population growth (including high millennial concentrations). In Phoenix, overall population growth is expected to reach 2.4 percent this year.
Combine this with Phoenix’s broad economic recovery, and you get local job growth exceeding 3.5 percent — a significant number when compared to most U.S. markets and a good portion of which is happening in Phoenix’s historically strong suburban office space.
Click here to download JLL’s full U.S. Multifamily Perspective report or for more Phoenix market multifamily trends, contact:
John P. Cunningham
Executive Vice President
+1 602 282 6314
+1 602 282 6264