Over 1.2 million apartments were built in the U.S. from 2020 to 2022, with another 460,860 units planned for 2023. However, nearly two-thirds of these units are concentrated in a handful of fast-growing metropolitan areas.
According to a new report from RentCafe, the Phoenix metro area ranked No. 12 in the country for new construction during the pandemic era, adding 28,039 units to the rental market. When it comes to individual cities, however, Phoenix ranked slightly lower at No. 15. The city added 10,132 units between 2020 and 2022.
Most of Phoenix’s new apartments constructed during the pandemic era are located in Phoenix proper, followed by Tempe, Gilbert, Mesa, Scottsdale, Goodyear, Glendale, Peoria, Chandler and Tolleson.
Phoenix also ranks No. 6 in the country for new apartment construction in 2023, with 14,629 units added so far.