Atlanta Multifamily Report – May 2025
Metrics show uneven performance going into the summer.
Atlanta fundamentals remained uneven three months into 2025. Average advertised asking rents were unchanged on a trailing three-month basis, at $1,637 in March, and contributed to a 1.6 percent slide year-over-year. This performance put Atlanta behind the nation, with the U.S. rate up 0.1 percent on a three-month basis and 1.0 percent year-over-year, to $1,755. Occupancy in stabilized properties endured due to strong absorption, down only 10 basis points year-over-year, to 92.5 percent in February.
Job growth continued to decelerate in Atlanta, up 1.2 percent as of January, with the market gaining 23,100 net jobs over 12 months. The U.S. rate stood at 1.0 percent for the fourth straight month. The metro’s 3.6 percent unemployment rate in March continued to outperform the U.S. (4.2 percent) and was on par with the state. Half of the metro’s employment sectors lost 14,600 jobs combined, with trade, transportation and utilities (-8,100 jobs) posting the largest drop. Gains were strongest in the education and health services sectors (20,500 jobs). Meanwhile, work continued on CIM Group’s Centennial Yards, with the topping out of a residential tower and hotel.
Deliveries remained elevated, totaling 2,548 units during the first quarter of the year, while another 28,837 units were underway as of March. Investment remained sluggish, totaling $323 million for the quarter, at a price per unit that declined 18.2 percent year-to-date, to $154,342.
