{"id":6022,"date":"2023-06-19T10:52:16","date_gmt":"2023-06-19T10:52:16","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=6022"},"modified":"2023-09-12T16:58:48","modified_gmt":"2023-09-12T16:58:48","slug":"atlanta-multifamily-market-report-may-2023","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2023\/","title":{"rendered":"Atlanta Multifamily Market Report \u2013 May 2023"},"content":{"rendered":"<h2>Investment, Rate Gains Taper<\/h2>\n<p>Atlanta\u2019s rental market <a href=\"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-january-2023\/\"><strong>softened during the first quarter of 2023<\/strong><\/a>, following a strong performance over the past decade. Year-over-year rent expansion was 1.1% as of March, following several months of short-term decreases and trailing the 4.0% national figure. As a result, the metro\u2019s average was $1,690, just $16 below the U.S. figure. Meanwhile, occupancy in stabilized assets dipped, down 1.2%, to 93.8%, as of February.<\/p>\n<p><iframe id=\"datawrapper-chart-rxRkH\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Atlanta vs. National Rent Growth (Trailing 3 Months)\" src=\"https:\/\/datawrapper.dwcdn.net\/rxRkH\/1\/\" height=\"376\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>Atlanta employment outperformed the U.S. in 2022, adding 126,400 jobs, for an employment growth rate of 5.1%, 140 basis points above the national figure. Economic cornerstones such as trade, transportation and utilities and professional and business services added 20,700 jobs each, strengthening their positions. Leisure and hospitality led gains with 23,700 jobs, as the effort to recover positions lost during the pandemic continued.<\/p>\n<p><iframe id=\"datawrapper-chart-BCqno\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Atlanta Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/BCqno\/1\/\" height=\"576\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>Following two stellar years for investment activity, when a combined $27.9 billion in multifamily assets traded, Atlanta\u2019s sales volume tumbled to just $431 million in the first quarter of 2023. Property values in the metro have held up well, while the national price<br \/>\nper unit was down nearly 7% during the first months of the year. Construction is still solid in Atlanta, with 38,105 units underway and another 144,000 in the planning and permitting stages. Yardi Matrix expects nearly 15,000 units to come online in 2023, which would mark Atlanta\u2019s best year for deliveries this decade.<\/p>\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/3923-MatrixMultifamilyAtlantaReport-May2023\" target=\"_blank\" rel=\"noopener\">Matrix Multifamily Atlanta Report-May 2023<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investment, Rate Gains Taper Atlanta\u2019s rental market softened during the first quarter of 2023, following a strong performance over the past decade. Year-over-year rent expansion was 1.1% as of March, following several months of short-term decreases and trailing the 4.0% national figure. As a result, the metro\u2019s average was $1,690, just $16 below the U.S. [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":6023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[446,475],"class_list":["post-6022","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-2023"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Atlanta Multifamily Market Report \u2013 May 2023 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Multifamily started 2023 slow, following a stellar couple of years, with YoY rent growth at 1.1% as of March, well below the national figure.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Atlanta Multifamily Market Report \u2013 May 2023\" \/>\n<meta property=\"og:description\" content=\"Multifamily started 2023 slow, following a stellar couple of years, with YoY rent growth at 1.1% as of March, well below the national figure.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-19T10:52:16+00:00\" \/>\n<meta property=\"article:modified_time\" 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