{"id":8305,"date":"2024-09-02T08:44:00","date_gmt":"2024-09-02T08:44:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8305"},"modified":"2025-02-07T09:01:51","modified_gmt":"2025-02-07T09:01:51","slug":"atlanta-multifamily-market-report-august-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-august-2024\/","title":{"rendered":"Atlanta Multifamily Market Report \u2013 August 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>Slowdown Persists Across Fundamentals<\/h2>\n<p>Halfway through the year, an overall softening continued across multifamily fundamentals in the metro, according to the latest Atlanta multifamily market report. Rent movement remained negative, with the average advertised asking rent down 0.1% on a trailing three-month basis through June, to $1,638. Year-over-year, Atlanta posted the second-largest decline among major U.S. markets, with the average down 3.6%, as reported in the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>national multifamily outlook<\/strong><\/a>. Meanwhile, the national rate increased 0.6%, to $1,739, over 12 months. Atlanta occupancy also slid, down 80 basis points year-over-year, to 92.4%, in May.<\/p>\n<p><iframe id=\"datawrapper-chart-xB8VS\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Atlanta vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/xB8VS\/2\/\" 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>In the 12 months ending in April, Atlanta employment expanded 1.1%, adding 38,800 net jobs and trailing the 1.4% U.S. rate. Unemployment stood at 3.4% as of May, according to data from the Bureau of Labor Statistics, below the national average (4.0%) but lagging the state (3.2%). Two sectors lost 23,800 jobs combined over 12 months\u2014trade, transportation and utilities and information. Meanwhile, job gains were highest in education and health services (17,500 jobs) and government (16,100 jobs). Meanwhile, work continues on several billion-dollar projects, but Rivian Automotive paused the construction of its $5 billion truck factory.<\/p>\n<p><iframe id=\"datawrapper-chart-BVYHy\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Atlanta Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/BVYHy\/1\/\" 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>Developers delivered 5,649 units in 2024 through June and had another 36,575 apartments under construction, most of which were in the upscale segment. Meanwhile, transaction activity remained slow, totaling $1.2 billion during the first half of the year, for a price per unit that declined roughly 10%, to $167,424.<\/p>\n<p>Read the full Yardi Matrix Atlanta Multifamily Market Report: <a href=\"\/publications\/download\/file\/6070-MatrixMultifamilyAtlantaReport-August2024\"><strong>August 2024<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Slowdown Persists Across Fundamentals Halfway through the year, an overall softening continued across multifamily fundamentals in the metro, according to the latest Atlanta multifamily market report. Rent movement remained negative, with the average advertised asking rent down 0.1% on a trailing three-month basis through June, to $1,638. Year-over-year, Atlanta posted the second-largest decline among major [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":7754,"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-8305","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 August 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Atlanta\u2019s YoY rent growth remained among the weakest in the U.S., with the average advertised asking rent down 3.6 percent in June.\" \/>\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-august-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 August 2024\" \/>\n<meta property=\"og:description\" content=\"Atlanta\u2019s YoY rent growth remained among the weakest in the U.S., with the average advertised asking rent down 3.6 percent in June.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/atlanta-multifamily-market-report-august-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-02T08:44:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-07T09:01:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/06\/Atlanta-iStock-2162160058.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=\"Adina Rogoz\" \/>\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 August 2024 - 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