A new report by The Pew Charitable Trusts and global architecture, planning, and design firm Gensler shows Phoenix could turn empty offices into housing and help the city address two major challenges: a surplus of vacant offices and a shortage of housing. The report outlines how co-living, dorm-style microunits can be designed and financed to provide lower-cost homes for people earning well below the area median income.

Median rents in metro Phoenix have risen 33% over the past seven years, reaching $1,385 per month in August 2025. At the same time, the city faces a 23% office vacancy rate. Recent policy changes, including relaxed density rules , a state law on adaptive reuse , and city programs such as the Adaptive Reuse Program and the 2025 Housing Solutions Plan , give Pho

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