Atlanta Multifamily Report – May 2026
This market is recording mixed metrics.
Atlanta’s multifamily fundamentals were mixed at the end of the first quarter. Advertised asking rents slid 0.1 percent, on a trailing three month basis through March, to an average of $1,634, 20 basis points below the national figure. Meanwhile, the occupancy rate in stabilized properties rose 20 basis points year-over-year, to 93.3 percent in February, driven mostly by the Lifestyle segment.
Employment growth decelerated to 0.4 percent in 2025, trailing the U.S. rate of 0.6 percent. Unemployment stood at 3.6 percent in January, on par with Georgia and below the 4.3 percent national rate, according to preliminary data from the Bureau of Labor Statistics. Atlanta lost 300 net jobs in 2025, as gains in four sectors, led by education and health services and professional and business services, were outweighed by losses in six sectors, led by the trade, transportation and utilities and information sectors. Notable project advancements across the metro include Mercedes-Benz’s consolidation in Sandy Springs and the $441 million South Parking Deck Phase I at Hartsfield–Jackson International Airport, slated for a summer 2026 delivery.
Developers added 1,808 units or 0.3 percent of stock, in the first quarter, while 22,302 units were underway as of March. Development skewed toward suburban submarkets and Lifestyle projects. Investment activity remained moderate, with $672 million in multifamily sales through March and an average price of $192,823 per unit, below the $196,464 national figure.
