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PHOENIX-High-end apartments, more plush and luxurious than ever seen before in Phoenix are appearing on the market in select areas, with rents to match. In Central Phoenix, the Valley’s most expensive rental area, effective rents average $1,062 compared to $818 throughout the rest of the Valley, according to a Q3 Marcus and Millichap apartment research report.

But will it hold? “We don’t know because we haven’t seen that tested yet. However I’ll speculate we’re going to be pretty successful,” says Jack Hannum, vice president of Transwestern.

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