Atlanta Multifamily Market Report

Improved job growth aids multifamily demand. Corporate expansions like AIG’s innovation center, PrizePicks’ expanded headquarters and Anovion’s new manufacturing facility will support future local job gains. As such, the metro’s rate of employment growth will surpass the U.S. pace in 2025. Many of these new roles will be filled by younger talent — a dynamic that will extend a recent growth trend. Last year, only three other major markets registered a larger increase in their 20- to 34-year-old resident count than Atlanta. An expanding young professional base with a high propensity to rent has potential to heighten overall demand for apartments in 2025. This trend will coincide with a moderation in deliveries following 2024’s peak. New supply will be front-loaded in the the first half of 2025, concentrated in the northern and western suburbs outside the Interstate 280 loop. Here, the 2,600 combined doors slated for addition may moderate local performance metrics over the near term. Meanwhile, Midtown and Northeast Gwinnett County will each record a roughly 40 percent reduction in arrivals year over year. These pullbacks  in supply additions occur at a time when both areas’ vacancy rates are below market average, suggesting near-term compression could materialize should local demand hold.