Over 200 units coming to downtown Phoenix—with rent starting under $1,100

Day breaks over downtown Phoenix, on July 17, 2023. (AP Photo/Matt York)

By Robert Gundran

September 11, 2024

Over 500,000 rental units are expected to be built in Arizona by the end of 2024.

A new apartment complex just east of downtown Phoenix is open, and with rent prices starting at $1,099 a month, it’s more affordable than many city options. That’s good news for the thousands of young adults who move to Phoenix each year.

Greenlight Communities opened Streamliner 16th on 16th Street and Polk Road, with move-ins starting Sept. 15. The complex has 208 units.

Phoenix’s median rent is currently $1,999, according to Zillow, which is roughly $100 lower from median rent prices at this point last year—and 5% lower than the national median rent, which is $2,100.

RELATED: Kamala Harris wants to make it easier to afford housing in Arizona

More affordable housing lets younger people or people with limited income live and participate in a city community.

Over 500,000 rental units are expected to be built in Arizona by the end of 2024, according to reporting from The Arizona Republic. Increased housing supply to meet demand will theoretically help stabilize prices, or even drive them down.

Streamliner 16th has options for studio, one-, and two-bedroom apartments. The floor plans range from 431 to nearly 700 square feet, with the two-bedroom floor plans starting at $1,399.

Author

Robert Gundran

Robert Gundran grew up in the Southwest, spending equal time in the Valley and Southern California throughout his life. He graduated from Arizona State University's Walter Cronkite School of Journalism in 2018 and wrote for The Arizona Republic and The Orange County Register.

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CATEGORIES: HOUSING

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