{"id":1018,"date":"2021-05-21T08:00:09","date_gmt":"2021-05-21T08:00:09","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=1018"},"modified":"2023-09-12T15:03:15","modified_gmt":"2023-09-12T15:03:15","slug":"atlanta-multifamily-market-report-spring-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-spring-2021\/","title":{"rendered":"Atlanta Multifamily Market Report \u2013 Spring 2021"},"content":{"rendered":"\n

Demand Outpaces Robust Supply<\/h2>\n\n\n\n

Atlanta\u2019s economic foundation, focused on infrastructure, workforce expansion and small business development proved to be a successful resiliency strategy<\/a><\/strong>. The multifamily market exhibited healthy fundamentals, with rents posting a strong performance in the second half of 2020, then slightly softening in the first quarter of 2021, up by 0.3% on a trailing three-month basis through March to $1,378<\/strong>. Despite robust supply additions, the occupancy rate in stabilized properties increased by 110 basis points in the 12 months ending in February, to 94.8%.<\/p>\n\n\n\n

The unemployment rate dropped to 5.1% in January<\/strong>, and February preliminary data pointed to sustained recovery, with the figure sliding further to 4.5%. The employment market shrunk by just 3.5% in the 12 months ending in December, outperforming the -6.8% U.S. rate. Two sectors gained jobs, led by the largest one\u2014trade, transportation and utilities, up by 2.8% or 17,200 jobs. Record levels of container traffic at the Port of Savannah boosted the distribution sector and sustained demand for industrial space. Professional and business services contracted by 4.4% in 2020, but is poised to recover as tech companies announced expansions in 2021.<\/p>\n\n\n\n

In the first quarter of 2021 multifamily sales amounted to $1.3 billion<\/strong>, for a per-unit price that rose 10.1% to $148,525. Meanwhile, 2,779 units came online and 20,037 were underway.<\/p>\n\n\n\n

Read the full Matrix Multifamily Atlanta Report-Spring 2021<\/a><\/strong><\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Demand Outpaces Robust Supply Atlanta\u2019s economic foundation, focused on infrastructure, workforce expansion and small business development proved to be a successful resiliency strategy. The multifamily market exhibited healthy fundamentals, with rents posting a strong performance in the second half of 2020, then slightly softening in the first quarter of 2021, up by 0.3% on a […]<\/p>\n","protected":false},"author":650,"featured_media":1019,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[446,221],"class_list":["post-1018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-atlanta","tag-multifamily-outlook-2021"],"yoast_head":"\nAtlanta Multifamily Market Report \u2013 Spring 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Rent growth in Atlanta moderated slightly, but rents still rose 0.3% on a trailing three-month basis through March to $1,378.\" \/>\n<meta name=\"robots\" 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