Multiple transmit antennas in a downlink channel can provide tremendous capacity (i.e. multiplexing) gains, even when receivers have only single antennas. However, receiver and transmitter channel state information is generally required. In this paper, a system where the receiver has perfect channel knowledge, but the transmitter only receives quantized information regarding the channel instantiation is analyzed. Simple expressions for the capacity degradation due to finite rate feedback as well as the required increases in feedback load per mobile as a function of the number of access point antennas and the system SNR are provided.