Enough with the dam "LUXURY Apartments" (Phoenix, Chandler: sales, affordable apartment)

[ELOrocks17]

Recently, I was looking to possibly move closer to work. I am single, so just looking for a studio or 1 bedroom apt. Have you noticed how 99% of apartment complexes in the valley look identical? Anyway, when looking in the apt guide, I was shocked how many were considered luxury apartments. Studios start at $800!!!! And that does NOT include utilities! I live in a 3 bedroom house for that much in N Phoenix! My question? Why? Why do property companies think that people want to pay that much to live in a luxury apartment? I don't want granite countertops, and vaulted ceilings. I just want 4 walls and a roof. Apparently, that's seems to be a tall order in this town.

[observer53]

Originally Posted by ELOrocks17

Recently, I was looking to possibly move closer to work. I am single, so just looking for a studio or 1 bedroom apt. Have you noticed how 99% of apartment complexes in the valley look identical? Anyway, when looking in the apt guide, I was shocked how many were considered luxury apartments. Studios start at $800!!!! And that does NOT include utilities! I live in a 3 bedroom house for that much in N Phoenix! My question? Why? Why do property companies think that people want to pay that much to live in a luxury apartment? I don't want granite countertops, and vaulted ceilings. I just want 4 walls and a roof. Apparently, that's seems to be a tall order in this town.

Go to one of the apartment locator places. It won't cost you anything, and they know about smaller, non "luxury" complexes that will have what you are looking for.

[ajonesaz]

Supply and demand. Also, most complexes are owned by a handful of companies. When you have a large market share, you can drive up prices.

[gearedtowardssalad]

It's a trend all around the country unfortunately and the continual rise in income inequality won't convince anyone to build affordable housing. Gentrification is inevitable.

[Bondurant]

Originally Posted by gearedtowardssalad

It's a trend all around the country unfortunately and the continual rise in income inequality won't convince anyone to build affordable housing. Gentrification is inevitable.

I feel like the bottom will fall out in a few years, at least here in Phoenix. I know a few local business owners downtown that aren't buying into the hype.

[BIG CATS]

Its common. Charge ridiculous rent prices because it says "luxury" in the title, and give it some catchy, goofy name (ie "Elev8" or "Moderne"), and VOILA! A recipe for suckers to pay out the wazoo for some mediocre living space.

[grmi66]

Ditto on using an apartment locating service. The last two apartments I had to find I used one, they found me both places within an hour. Took me another hour or so to drive up and look at the places. Had a new place both times by lunchtime. Neither place were luxury by any means, typical "Bachelor Pad" kind of places. If you are north Phoenix that's where I found these places.

The other thing I found is that rental prices on apartments fluctuate. It's more expensive to rent one now than it will be after winter visitors have left in April. So the place I started to rent in October for $600 a month went for $750 if you tried to lease it in January.

[PhoenixSomeday]

They all say luxury, they all say they have amazing amenities, they all say they're close to everything, they all say they're spacious, they all say they have "upgraded" interiors even when they don't. We've checked out every single apartment complex between northwest Ahwatukee to southeast Chandler in the last two months, and every single one of them say every single one of these things even if they aren't even close. It's just marketing BS.

One thing we have noticed that is consistent is that properties that have been built by Mark Taylor (even if they may not be currently owned by them) in the last 10 years or so really do fit the description for the most part (be careful though, they do also manage properties that they haven't built). Some of the floor plans might feel a little small for a small family (2 adults, two tiny children/toddlers/babies) given the reported square footage, but they really are nice.

We have noticed that the prices pretty closely reflect the area. Nice apartments South of 202 and east of Price Rd go for consistently more than apartments, say, north of Chandler Blvd and east of AZ/Alma School (and for good reason).

But yes, ALL apartment complexes say they're luxury. Even if it's not on the name, it WILL be there somewhere on the site in their sales pitch.

[ELOrocks17]

Originally Posted by BIG CATS

Its common. Charge ridiculous rent prices because it says "luxury" in the title, and give it some catchy, goofy name (ie "Elev8" or "Moderne"), and VOILA! A recipe for suckers to pay out the wazoo for some mediocre living space.

Its odd that all of the apartments in or around I-10 and Ray rd. are outrageously high, yet, are completely surrounded by 100's of businesses that hire minimum wage employees.

[new2colo]

There are proposals for new micro apartments near downtown Phoenix. These will still probably be overpriced for the square footage you have, but I'm sure rents won't be as outrageous as a standard sized apartment. It's all about location here. There are PLENTY of affordable apartment complexes outside of the more central neighborhoods.