Over 20% of Phoenix-area employees work from home
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The share of Valley employees working from home fell slightly between 2021 and 2022 but remains well above the national average, according to Census figures released last month.
Why it matters: Workers in Phoenix and other fast-growing, competitive cities aren't giving up the flexibility and savings — in both time and gas money — of working from home.
By the numbers: 21.7% of Phoenix employees worked from home last year, compared with 23.4% in 2021.
- Contrast that with 7.9% in 2019 — before the pandemic pushed many into remote work.
Zoom out: 15% of the U.S. worked from home last year, up from 5.7% before the pandemic.
The intrigue: COVID may have started the work-from-home surge, but the trend seems to be continuing without it.
- The share of people working from home declined by less than 3 percentage points nationwide between 2021 and 2022, according to the Census figures.
The big picture: The personal and economic impacts of the sudden increase in remote work remain unclear, but some early studies show mixed results, The New York Times reported this week.
- For example: The added flexibility has benefited working mothers, but women tend to face greater hurdles for career advancement if they work remote.
- Meanwhile, some researchers have found productivity declines as much as 19% when employees work from home, while others show gains as high as 24%.
What we're watching: The shift away from in-person work has led to an increase in office vacancy in metro Phoenix, and some real estate professionals are looking for the next best use for their empty buildings.
Reality check: Office-to-apartment conversions are the trendy move right now, but they've proved to be more complicated and expensive than expected.
One Camelback, a luxury apartment complex inside the former BMO Harris bank building at Central Avenue and Camelback Road, was to be the premier Phoenix conversion project, but it's run into a host of issues.
- It was supposed to open in 2021, but still hasn't. Its website now says apartments will be available starting Nov. 30.
- The building owner defaulted on its loan this summer and plans to sell it at auction in November, Phoenix Business Journal reported.
Zoom in: Commercial real estate group JLL found that the Phoenix office vacancy rate rose to 25% in the third quarter of this year.
Yes, but: JLL's report also noted high-end office space in prime areas like the Camelback Corridor, Chandler and south Tempe are bucking the trend and remain in huge demand.