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Market Report

Atlanta Multifamily Market Report

2025 Investment Forecast

Inflow of Young Adults and Moderating
New Supply Offer Tailwinds for Operators and Investors

Job opportunities for young professionals bolster multifamily performance. Last year, only three major U.S. rental markets recorded a larger increase in their 20- to 34-year-old resident cohort than Atlanta. Attracted in part by corporate growth like AIG’s upcoming innovation center, the metro’s base of young professionals is again expected to expand in 2025. As most of this group historically slots into the renter pool, apartments stand to benefit. This dynamic, coupled with a cooling delivery slate and the largest expected net in-migration among metro east of the Mississippi River, will drive greater downward pressure in vacancy across over a quarter of all submarkets in the metro. Notably, Midtown and Northeast Gwinnet County will see over a 40 percent decline in deliveries year over year, likely accentuating their already below-market level vacancies. The greater influx of renters will support both new and existing supply, pushing overall vacancy down and ushering in a return to upward rent momentum.
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