The Epic Solution for Arizona’s Urgent Need for Affordable Housing

Everything is getting so expensive. As the cost of everything continues to skyrocket, the price of housing is also skyrocketing. Finding affordable housing in a decent location had become a challenge, according to Axios, but a new solution might just be the ticket to mitigating Arizona's crushing housing shortage.

What’s the deal with Arizona’s housing crunch?

Arizona’s housing market has been hot. Remote work has spawned mobility across the nation, and Phoenix has become an attractive place to establish roots.

The average rent in Phoenix has increased by 33% over the past seven years, according to AZ Big Media, and the median rent now stands at around $1,385/month. Students, service workers, and anyone not rolling in tech money are shelling out a disproportionate share of their income in housing alone.

Between rising homelessness and a shortage of affordable housing, Phoenix began to explore a creative and rapid solution. There's a good chance they've found it.

Read more about Arizona's rising costs: Trade War with China Affects Arizona's Alfalfa Farmers

Why are office buildings suddenly the new dorms?

After the COVID-19 lockdowns, a lot of firms discovered that remote work was not only possible, but it was also a cost-effective solution. Besides, who really wants to commute in 100+-degree heat?

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So now, downtown Phoenix is rife with empty office buildings. Around 23 to 28% of the offices are currently vacant. Rather than let the buildings gather dust or go to seed, area developers are flipping them into micro-apartments.

Essentially, this is dorm-style living with private sleeping quarters, shared kitchens, and bathrooms. And the best part is that rent is only around $850 a month, which includes utilities. It's not fancy, but it's convenient, inexpensive, and affordable.

Read why Women in Arizona are Leaving the Workforce

Why is Phoenix perfect for this kind of housing?

Phoenix is the perfect place for this experiment: it boasts a surplus of mid-century office towers, relaxed zoning laws, and a pressing need for affordable housing. The city even ended downtown parking requirements to make the transformation even easier.

This project is spinning up much faster than building from scratch, and it's solving problems.