Atlanta Q4 Multifamily Market Insights: Transaction Activity, Prices Spiked to Close 2021
Highlights:
- After significant strengthening in the third quarter, the Atlanta multifamily market posted more modest gains in the final few months of the year. Many of the trends achieved at the end of 2021 will likely be sustained throughout much of 2022.
- Vacancy ticked up 10 basis points in the fourth quarter, ending 2021 at 4.7 percent. For the full year, the rate improved by 90 basis points.
- Asking rents in Atlanta continued to rise during the fourth quarter, though the pace of growth slowed from the third quarter. Rents rose 1.3 percent during the final quarter, finishing the year at $1,487 per month. In 2021, rents spiked 15.9 percent.
- The investment market gained momentum during the fourth quarter, with transaction activity surging and sales prices jumping. The median sales price reached $170,000 per unit through the end of 2021, while cap rates averaged around 4 percent during the fourth quarter.
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