Atlanta Multifamily Investment Forecast
Favorable Household Growth Helps Preserve Capital Migration into Atlanta
Tailwinds build in Atlanta. Following the largest annual absorption of apartments in more than two decades, the metro is poised to record another strong year as in-migration and job growth facilitate household formation. The pace of renter demand gains will ease from 3.3 percent last year to 2.2 percent in 2022, largely due to the lack of available apartments. Vacancy improvement is projected to be the most robust in Midtown and Buckhead, which have the most empty units. White-collar workers are moving back into the densely populated areas following the distribution of vaccines and reopening of offices. Companies are also expanding operations in those locations, generating additional renter demand. Google, Cisco and Microsoft, among others, are adding thousands of jobs in the area this year. Suburban properties, meanwhile, will also continue to perform well as remote workers from the Northeast and West Coast remain in the market long term.