In 2023, Arizona led the nation in build-to-rent construction, with over 2,000 homes planned or under construction per million residents. By 2024, RentCafe ranked Phoenix 6th in the nation for apartment growth, outpacing cities like Atlanta, Washington, and Houston. While many major U.S. cities are seeing a decline in new apartment buildings, Phoenix is booming. Population growth and economic trends are factors, but a key yet often overlooked contributor to this success is Arizona’s robust cable infrastructure and network connectivity.
Roughly one year ago, Governor Katie Hobbs announced that Arizona received nearly $1 billion in federal funding for the Broadband Equity, Access, and Deployment (BEAD) program. “Broadband plays an essential role in people’s lives—whether it’s for education, healthcare, jobs, or starting a small business, internet connectivity is a necessity.”, she stated.
Indeed, this initiative is just one of many that have positioned Arizona as a leader in reliable cable infrastructure and network deployment, a foundation that supports both residential and commercial growth.
Phoenix, in particular, has become a magnet for tech companies, earning its place among the most active tech markets in North America according to CBRE’s annual Tech-30 report. The city’s burgeoning tech sector necessitates top-tier network connectivity—a demand that Arizona has met with historic investments in broadband infrastructure and advanced technology integration.
Another case study is Tempe’s Innovation District. Tempe, a suburb of Phoenix, has seen rapid development recently, largely due to its proximity to Arizona State University and its advanced technology infrastructure. The city’s investment in fiber optic networks has drawn tech companies, startups, and research institutions spurring a surge in housing demand, including for apartments.
Furthermore, the increase in tech businesses has also boosted demand for services from structured cabling companies. Brian Pessin, the Owner of Cabling Solutions Group, a Tucson-based company serving Southern Arizona, says, “We’ve seen significant growth due to the rising demand for our services. We’re expanding our team to keep up with the demand and continue providing top-quality support.”
Will this apartment boom last?
The question remains: Will this unprecedented apartment boom last? The answer is yes. With Phoenix’s strategic investments in network infrastructure, combined with its affordability and favorable climate, the city is well-positioned to sustain its growth. Other metros looking to replicate Phoenix’s success should, therefore, take note—reliable cable infrastructure and robust network connectivity are key ingredients to driving and sustaining residential and commercial growth in today’s digital age.