Arizona’s Affordable Housing Supply at “Crisis Point”

Courtney LeVinus

Rising housing demand in Arizona is starting to outpace new supply, and the affordable housing supply in particular has reached a crisis point, according to a recent report from the Arizona Multi-Housing Association. In the state, 32% of households require an affordable housing permit, and 48% of households require an affordable housing permit. To accommodate this demand, AMA says the market can support considerable new construction activity.

“This is a function of supply and demand. As more apartments are built and the state’s housing stock increases, prices naturally decrease,” Courtney LeVinus, president and CEO of the Arizona Multi-Housing Association, tells GlobeSt.com. “Unfortunately, for various reasons including increasing land prices, local land use restrictions, and costly regulations, we can’t build fast enough to meet the growing demand.”