In Phoenix 38% of the housing is rented out compared to 62% of homes are owned, according to the most recent Census Bureau estimates. 11% of Phoenix's apartments are found in large buildings of 50 units or more, 40% are located in smaller apartment complexes with less than 50 units, and 50% are single-family rentals.
The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Phoenix are about 34 years old, on average. Of these, 65% have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 9 stories. About 21% of the rental communities here are low-rise, garden-style communities, 35% are mid-rises, and 44% are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.
Studio apartments in Phoenix are around 0% of rentals, while 1-bedroom floor plans represent 86% of the total stock. For those in search of larger rentals, 2-bedroom floorplans make up 14% of all rentals. More generous apartments with 3 bedrooms or more are also available in this city for those in search of more space.
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