Rents Soften, Occupancy Sets Record
Atlanta’s multifamily fundamentals softened but showed signs of stabilization going into the final innings of 2025, according to the latest Atlanta multifamily market report. Advertised asking rents declined 0.5% year-over-year, to $1,638 through November, compared to a 0.2% U.S. increase, to $1,740, as reported in the national multifamily outlook. Occupancy in stabilized assets, meanwhile, posted the strongest gain among the top 30 U.S. markets, up 100 basis points year-over-year, to 93.7% in October.
Atlanta’s labor market is cooling, with employment up 0.4% through August, compared to 0.8% nationally. The metro added 7,300 net jobs over the 12 months ending in August. Unemployment held at 3.5% as of August, trailing Georgia’s 3.4% and outperforming the 4.3% U.S. rate. Job growth was led by education and health services and leisure and hospitality, while trade, transportation and utilities and construction contracted. Still, major programs including the $11.6 billion ATLNext upgrade at Hartsfield-Jackson International Airport, SR 400 express lanes and Microsoft’s $1.8 billion Union City AI data center campus underpin longer-term economic growth.
New supply remained elevated, as developers delivered 16,086 units in 2025 through November. The pipeline was sizable, with 24,071 units underway, nearly half of which started construction in 2025. Investment activity was subdued, with $3 billion in multifamily assets trading through November. The average price per unit slid 8.6% year-over-year, to $169,244, significantly below the $206,794 U.S. figure.
Read the full Yardi Matrix Atlanta Multifamily Market Report: January 2026
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