Q1 2023 Rising Demand and Rent Growth

Unlock the Growth Potential of Arizona’s Healthcare Real Estate Market with DOCPROPERTIES’ Q1 Report: Rising Demand and Rent Growth

Discover the latest trends and statistics for the Arizona healthcare real estate market in DOCPROPERTIES’ Q1 market report. As healthcare costs continue to rise nationwide, Arizona is no exception. In Arizona with the additional factors of a shortage of physicians and an aging population with increasing healthcare needs, the demand for hospitals and outpatient facilities is higher than ever. Revenue for inpatient versus outpatient healthcare costs is now split 50/50 as hospitals move to treat critical care and trauma and move other services to outpatient facilities, according to data from RevistaMed, a healthcare property database.

RevistaMed’s Q1 quarterly call highlighted Phoenix as a standout market where demand for healthcare properties is outpacing supply. This trend is further supported in our quarterly report shows increasing prices per square foot and a compressed average cap rate for sales transactions. On the leasing front, the average rent per square foot has increased by 5.5% statewide and an impressive 10.5% in the Phoenix Metropolitan Area. RevistaMed’s report supports our findings and ranks Phoenix as one of the top 10 sales transactions for Q1 and 11th for rent growth, reflecting the city’s booming healthcare real estate market.

As an investor or clinician property owner, you are in a unique position to benefit from this growing demand. Our quarterly marketing report provides you with valuable insights and information to help you make informed decisions about your investments in the Arizona healthcare real estate market. At, DOCPROPERTIES we’re committed to helping you make the most of your investments and to capitalize on the growth potential of this dynamic market.
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