{"id":7752,"date":"2024-06-03T09:39:00","date_gmt":"2024-06-03T09:39:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=7752"},"modified":"2024-09-13T09:47:08","modified_gmt":"2024-09-13T09:47:08","slug":"atlanta-multifamily-market-report-may-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2024\/","title":{"rendered":"Atlanta Multifamily Market Report \u2013 May 2024"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/atlanta-multifamily-market-report\/\">Atlanta Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Strong Supply Impacts Rents, Occupancy<\/h2>\n<p>Atlanta\u2019s multifamily market fundamentals were slightly sluggish at the end of the first quarter, as rents and occupancy rates decreased, according to the latest Atlanta multifamily market report. However, the metro is still displaying resilience following last year\u2019s substantial delivery volume. Demand remained healthy, with rents down just 0.1% on a trailing three-month basis through March. The overall rent was $1,648, below the $1,721 U.S. rate, as reported in the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>national multifamily outlook<\/strong><\/a>. Occupancy dropped 120 basis points as of February, to 92.3%.<\/p>\n<p><iframe id=\"datawrapper-chart-sYnqV\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Atlanta vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/sYnqV\/1\/\" height=\"320\" 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>The unemployment rate stood at 3.0% in February, outpacing both the U.S. (3.9%) and state (3.1%) figures, data from the Bureau of Labor Statistics shows. In 2023, Atlanta\u2019s job market expansion slowed, up 2.2%, or 72,000 jobs, just 20 basis points above the U.S. average. While two sectors\u2014information and manufacturing\u2014lost 5,800 total jobs, gains were led by education and health services (27,100 jobs) and leisure and hospitality (18,500). Notable expansion projects in Atlanta include the master-planned Science Square district and Centennial Yards.<\/p>\n<p><iframe id=\"datawrapper-chart-DNG2a\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Atlanta Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/DNG2a\/2\/\" height=\"423\" 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>During the first quarter of the year, 1,899 units came online and, as of March, developers had 39,214 units underway. Following strong deliveries in 2023, construction activity is dwindling, with only 1,296 units breaking ground through March. Sales volume through March totaled just $368 million as investors are still being cautious. The market recorded a per-unit price of $145,800, well behind the $196,096 U.S. figure.<\/p>\n<p>Read the full Yardi Matrix Atlanta Multifamily Market Report: <a href=\"\/publications\/download\/file\/5638-MatrixMultifamilyAtlantaReport-May2024\"><strong>May 2024<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Strong Supply Impacts Rents, Occupancy Atlanta\u2019s multifamily market fundamentals were slightly sluggish at the end of the first quarter, as rents and occupancy rates decreased, according to the latest Atlanta multifamily market report. However, the metro is still displaying resilience following last year\u2019s substantial delivery volume. Demand remained healthy, with rents down just 0.1% on [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":7454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[446,511],"class_list":["post-7752","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-2024"],"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 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Atlanta\u2019s supply expansion in 2023 ranked highest over the past decade, creating a lag in rent growth despite continued healthy demand.\" \/>\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-2024\/\" \/>\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 2024\" \/>\n<meta property=\"og:description\" content=\"Atlanta\u2019s supply expansion in 2023 ranked highest over the past decade, creating a lag in rent growth despite continued healthy demand.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-03T09:39:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-13T09:47:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/Atlanta-iStock-1795797376.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Razvan Cimpean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Atlanta Multifamily Market Report \u2013 May 2024 - Yardi Matrix Blog","description":"Atlanta\u2019s supply expansion in 2023 ranked highest over the past decade, creating a lag in rent growth despite continued healthy demand.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2024\/","og_locale":"en_US","og_type":"article","og_title":"Atlanta Multifamily Market Report \u2013 May 2024","og_description":"Atlanta\u2019s supply expansion in 2023 ranked highest over the past decade, creating a lag in rent growth despite continued healthy demand.","og_url":"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2024\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2024-06-03T09:39:00+00:00","article_modified_time":"2024-09-13T09:47:08+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/Atlanta-iStock-1795797376.jpg","type":"image\/jpeg"}],"author":"Razvan Cimpean","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anca Gagiuc","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2024\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2024\/"},"author":{"name":"Razvan Cimpean","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6"},"headline":"Atlanta Multifamily Market Report \u2013 May 2024","datePublished":"2024-06-03T09:39:00+00:00","dateModified":"2024-09-13T09:47:08+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2024\/"},"wordCount":237,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/Atlanta-iStock-1795797376.jpg","keywords":["Atlanta","Multifamily Outlook 2024"],"articleSection":["Metro Reports","Multifamily Market","Real Estate Trends"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2024\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2024\/","url":"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2024\/","name":"Atlanta Multifamily Market Report \u2013 May 2024 - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2024\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/Atlanta-iStock-1795797376.jpg","datePublished":"2024-06-03T09:39:00+00:00","dateModified":"2024-09-13T09:47:08+00:00","description":"Atlanta\u2019s supply expansion in 2023 ranked highest over the past decade, creating a lag in rent growth despite continued healthy demand.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2024\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2024\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2024\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/Atlanta-iStock-1795797376.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/Atlanta-iStock-1795797376.jpg","width":1200,"height":628,"caption":"Photo by ianmcdonnell\/iStockphoto.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-may-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Atlanta Multifamily Market Report \u2013 May 2024"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6","name":"Razvan Cimpean","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","caption":"Razvan Cimpean"},"url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/02\/Atlanta-iStock-1795797376.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/753"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=7752"}],"version-history":[{"count":1,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7752\/revisions"}],"predecessor-version":[{"id":7755,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7752\/revisions\/7755"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/7454"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=7752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=7752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=7752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}