Read the latest Yardi Matrix Atlanta Multifamily Market Report.
New Construction Up, Occupancy Endures
Atlanta fundamentals remained uneven three months into 2025, according to the latest Atlanta multifamily market report. Average advertised asking rents were unchanged on a trailing three-month basis, at $1,637 in March, and contributed to a 1.6% slide year-over-year. This performance put Atlanta behind the nation, with the U.S. rate up 0.1% on a three-month basis and 1.0% year-over-year, to $1,755, as reported in the national multifamily outlook. Occupancy in stabilized properties endured due to strong absorption, down only 10 basis points year-over-year, to 92.5% in February.
Job growth continued to decelerate in Atlanta, up 1.2% as of January, with the market gaining 23,100 net jobs over 12 months. The U.S. rate stood at 1.0% for the fourth straight month. The metro’s 3.6% unemployment rate in March continued to outperform the
U.S. (4.2%), and was on par with the state. Half of the metro’s employment sectors lost 14,600 jobs combined, with trade, transportation and utilities (-8,100 jobs) posting the largest drop. Gains were strongest in the education and health services sectors (20,500 jobs). Meanwhile, work continued on CIM Group’s Centennial Yards, with the topping out of a residential tower and hotel.
Deliveries remained elevated, totaling 2,548 units during the first quarter of the year, while another 28,837 units were underway as of March. Investment remained sluggish, totaling $323 million for the quarter, at a price per unit that declined 18.2% year-to-date, to $154,342.
Read the full Yardi Matrix Atlanta Multifamily Market Report: May 2025
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