Story perspectives

Phoenix Data Center Market Surges with 67% Growth

3/17/2025

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Summary

Story summary

Phoenix is the fourth largest data center market in North America, boasting 602.8 MW of inventory, a 67% increase from last year.
Average asking rates are between $170 and $210 per kW/month, with a record low vacancy rate of 1.9%.
Currently, 176.0 MW of new construction is in progress, fueled by demand for cost-effective power and tax incentives.
Nationwide, data center construction has reached 6,350.1 MW, driven by rising demands for AI and digital services.

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Story summary

Phoenix is the fourth largest data center market in North America, boasting 602.8 MW of inventory, a 67% increase from last year.
Average asking rates are between $170 and $210 per kW/month, with a record low vacancy rate of 1.9%.
Currently, 176.0 MW of new construction is in progress, fueled by demand for cost-effective power and tax incentives.
Nationwide, data center construction has reached 6,350.1 MW, driven by rising demands for AI and digital services.