Atlanta Q3 Multifamily Market Insights: Rapid hiring sparks renter demand, sparks new construction

Highlights:

ATL-Market
  • The third quarter was another period of operational improvement in the Atlanta multifamily market. Renter demand is being fueled by strong expansion in the local labor market.
  • Vacancy declined 10 basis points to 4.4 percent in the third quarter. The rate has retreated 10 basis points in each of the three quarters of this year and is currently at a five-year low.
  • Rent growth continued in the third quarter. Asking rents reached $1,609 per month, up 9.7 percent year over year.
  • Fewer properties changed hands in the third quarter, but prices were stable. Cap rates rose to 4.3 percent on average, after remaining below 4 percent in the first half of the year.

Read the report

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